Obama to release 2016 budget Feb. 2

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The White House says President Barack Obama plans to release his budget for the 2016 fiscal year on Feb. 2.

Obama has often blown budget deadlines in the past, but the budget release scheduled for next month would be on time.

Much of Obama's budget -- especially its annual call for tax increases -- will be ignored by the GOP-controlled Congress. Its release will mark the beginning of a face-off with Republicans over taxes and spending.

Republicans say they will attempt to use the 12 annual appropriations bills to take on Obama. A key GOP focus will involve trying to roll back regulations on business and environmental issues that Republicans say are harming the economy.