Double Fine announced via Kickstarter that they plan to release the first half of Broken Age in January of 2014. In the announcement, Tim Schafer explained the decision to release the first half of the game this coming January.
He noted that launching an incomplete version of the game early would allow the development team to be more efficient without cutting down the game. Originally, the release of the first half of the game was projected for July 2014 and the full version was supposed to launch sometime in 2015. Releasing the game sooner means that not only will Double Fine be able to avoid asking backers for more funding, but it will also prevent them from having to greatly reduce the scope of the game, according to the recent Kickstarter update.
The game was always set for release on Steam, but Steam Early Access will allow Double Fine to charge for the pre-release content, meaning the money made off the first half of the game can be used to fund the development of the second half. As promised, backers of the project will still receive early beta access to the game, before the first half goes up for sale on Steam Early Access. Double Fine is projecting that the second half of Broken Age will be released a few months after the first, likely sometime in April or May.