Much higher than expected receipts reduced the estimated deficits for fiscal year 2006 in both the Administrations Mid-session review and in the Congressional Budget Office's The Budget and Economic Outlook: An Update. These were over $100 billion below the Administration's previous estimate and $70 billion below the Congressional Budget Office's previous baseline estimate. This report contains information on the background and analysis for the federal budget in the fiscal year 2006, the financial situation at that time, budgeting tools, budgetary actions, outlays, receipts, deficits, and related materials.