President Obama likely will release his budget the week of April 8, two months behind schedule, spokesman Jay Carney told reporters Tuesday.

Carney said the proposal would be a "balanced approach" with a mix of new revenue and spending cuts, but that that does not mean it would balance the budget. He said it would be "a useful and valuable contribution to" bipartisan negotiations. 

By law, the president is supposed to submit his budget request to Congress on the first Monday in February, kicking off the legislative process. Republicans have criticized Obama for not meeting that schedule.

Senate Minority Leader Mitch McConnell (R-Ky.) said from the Senate floor Tuesday that  the president "is happy to drop the bomb on the congressional budget process" by releasing a budget after both chambers have acted.

"It’s understandable that the president would be embarrassed to release a budget that never balances, but there is no excuse for this unprecedented delay and failure of leadership," said Brendan Buck, spokesman for House Speaker John Boehner (R-Ohio).

House Budget Chairman Paul Ryan (R-Wis.) unveiled a budget Tuesday morning that balances the budget by 2023, producing a small surplus. Senate Democrats will soon release a budget that combines close to $1 trillion in tax increases with $1 trillion in spending cuts but does not balance.