The president submitted a $3.9 trillion budget for fiscal 2015 to Congress on March 4.

      The new budget stays within the overall discretionary spending cap of $1.014 trillion set by Congress in December 2013.

      The president also proposed $55 billion in additional spending for education, veterans and energy, funded in part by ending a tax break for wealthy retirees.

      The budget includes $495.6 billion for the Defense Department, which is 0.1% less than the fiscal 2014 enacted amount.

      It has winners, including $65 billion for Veterans Affairs, up 3%; $69 billion for the Education Dept, up 2%; $28 billion for Energy, up 2.6%; and $14 billion for Transportation, up 2.2%.

      Losers include the Health & Human Services Department, $74 billion, down 7.6%; Homeland Security, $38 billion, down 2.8%; and HUD, $33 billion, down 3.3%.

      The Small Business Administration would shrink to $710 million, down from $810 million in 2014. The administration said it expects fewer loan defaults due to improving economic conditions, which will reduce the SBA’s costs.

      The SBA also would get $15 million to expand entrepreneur training and $7 million to finance business mentorship courses for returning veterans.

More information: Washington Post http://goo.gl/fHVjER