White House Set to Press Congress for $1.2T in Cuts

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The White House will ask Congress next month to try to cut the federal deficit by $1.2 trillion in the years ahead.

"We have a sequester coming less than a year from now unless Congress acts," a senior administration official said.

"We're going to ask Congress to do now what we think Congress should have done in December, which is enact more than $1.2 trillion in deficit reduction, turn off the sequester, and maintain the (spending caps)," the official said.

Last year, the so-called "supercommittee" tried to come up with deficit cuts to the federal budget but failed, meaning automatic spending cuts will go into effect next year.

However, the administration and congressional Republicans are worried those cuts could cripple the U.S. military.

Consequently, the White House is hoping Congress can come up with other ways to cut the deficit.

The administration plan will likely include new taxes and fees that Republicans won't support, meaning another showdown could be looming over the budget.

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