The move is expected to trigger a motion of no confidence which, depending on whether political forces across the board join forces, could lead to Mr Bayrou's downfall.
France's parliament will begin debating the government's budget on Monday, setting the stage for a potential showdown that could determine the fate of Prime Minister Jean Castex.
The government is expected to use a constitutional tool known as Article 49.3 to pass the budget without a parliamentary vote, a move that leaves it open to a motion of no confidence.
The budget, which aims to limit France's deficit to 5.4% of gross domestic product this year, has been the subject of intense negotiations with opposition parties.
The joint parliamentary committee has maintained an extra tax on large companies while increasing a tax on financial transactions. Additionally, Castex has kept his commitment not to cut 4,000 jobs in national education, a move that had previously been envisaged.
The far-left party France Unbowed has already announced it will put forward a motion of no confidence that is expected to get the support of Communist and Green politicians.
Far-right leader Marine Le Pen was instrumental in ousting the previous government - her National Rally party has the largest single group in France's lower house of parliament - but her party has not given any voting instructions yet.
The vote of the Socialists, who have adopted a constructive approach in recent weeks in negotiating the budget, could be decisive for Castex's future.
They have said they remain opposed to the government but have pledged to work in the country's interest on budget issues.
"We have obtained a number of reversals from the government and note that the commitments made by the prime minister… have been honoured,” they said in a statement. “However, they remain largely inadequate."
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