Obama to release budget outline on Apr. 10

President Obama is reaching out to lawmakers to try and end the gridlock in Washington. But, as Tara Mergener reports, Republicans and Democrats remain far apart when it comes to a budget compromise.

WASHINGTON The White House says President Barack Obama will release his federal budget outline on April 10 - two months late.

Under the law, the president was supposed to submit a budget on Feb. 4. But White House aides said deliberations over spending in the past few months delayed the release of Obama's blueprint.

The Republican-controlled House and Democratic-controlled Senate have passed rival budgets in the past week.

The Senate budget embraces nearly $1 trillion in tax increases over the coming decade and shelters the domestic programs House Republicans want to cut. The GOP version would balance the budget over the next decade without raising taxes.