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The Budget Enforcement Act of 1990 requires the President to submit the budget no later than the first Monday in February, which in 2027 is 1 February.
Congressional Research Service report on the submission deadline and its history.[1]
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The U.S. could fail to meet its debt obligations sooner than expected, Treasury Secretary Janet Yellen warned in a letter to House Speaker Kevin McCarthy.
Yellen said a drop in tax receipts meant the U.S. could hit its debt ceiling as soon as June 1, earlier than Wall Street and Washington had estimated.
This date is earlier than Wall Street economists were expecting. Goldman Sachs’ latest estimate this week put the deadline at some point in late July, though the bank’s economists acknowledged that weaker-than-expected tax receipts could advance that timeline.