WASHINGTON--President Barack Obama packed his final budget proposal with more than $4.1 trillion in tax breaks and spending in a fiscal 2017 plan designed to find a few spots of bipartisan agreement now while also laying out a broader liberal policy agenda for a future Democratic administration.

The proposal, which also calls for more than $2.6 trillion in revenues over a decade, primarily from top earners and businesses, provoked partisan sniping even before he formally sent it to Congress on Tuesday.