Presentation on theme: "Where does the federal budget come from??"— Presentation transcript:
1Where does the federal budget come from?? Creating the Budget$Where does the federal budget come from??
2Let’s review a key concept… What is a budget? The Federal Budget$Let’s review a key concept… What is a budget?
3I see! A budget is a plan for receiving and spending money. The Federal Budget$A budget is…A. a type of plan for printing money.I see! A budget is a plan for receiving and spending money.B. something the government uses to measure things.C. a plan for receiving and spending money.D. a pet bird.
4The Federal Budget $ The federal budget is… I see! the federal budget is the US government’s plan for managing revenue and spending.A. a type of plan for printing money.B. the US government’s plan for managing revenue and spending.C. the President’s plan to save a lot of money.D. a really big pet bird.
5Creating the Federal Budget $Now that you know what the federal budget is…(a plan for managingrevenue and spending)…you will learn about how the federal budget is created!
6Creating the Federal Budget $The goal is forTHIS PERSONandTHESE PEOPLEto work together to create a federal budget for the country.The PresidentThe Congress
7Creating the Federal Budget $The first thing you should know is that it takes over a year for a budget to be created.I get to go first!The President and his team at the Office of Management and Budget work to develop a proposal for the budget.
8Step One: President’s Proposal $This budget proposal is due on the1st Monday in Februaryand it includes the following things:spending prioritiesplans for raising revenues through taxeslots of documents supporting each item!!
10Step Two: Budget Resolutions $The Senate comes up with its plan for the budget…The House of Representatives comes up with its plan for the budget…In order to develop their plans, they take several things into consideration:the President’s budget outlinethe previous year’s budgetnew programs or projects that government agencies want to start
11Step Two: Budget Resolutions $These budget plans include lots of details and contain tables like this:
12Step Two: Budget Resolutions $These plans are called RESOLUTIONS…A budget resolution is a document that lays out a rough budget. It is a plan for Congress as they work to create an official budget.RoughDraft
14A budget resolution is… Quick Review!$A budget resolution is…A. a budget plan that the President must sign into law.B. a plan written by Congress that sets guidelines for the budget.C. when two people come together to get over their financial differences.D. the stuff you spray on stains on your carpet, right?
15Step Three: Conference Committee $Once budget resolutions are made, it is time for the House and the Senate to come together to create the budget!
16Step Three: Conference Committee $Selected Representatives from the House…And selected Senators from the Senate…come together in a…CONFERENCE COMMITTEE
17Step Three: Conference Committee $CONFERENCECOMMITTEEA Conference Committee brings the House and Senate committee members together to resolve differences between the two houses of Congress.
18Step Three: Conference Committee $CONFERENCECOMMITTEEHouseBudgetResolutionSenateBudgetResolutionThe goal of this Conference Committee is to approve one final budget resolution that combines the House and the Senate’s budget resolutions.JOINT Budget Resolution
20Step Four: Appropriations Committees $Once the Conference Committee has created a joint budget resolution the House and Senate have to tackle the massive project of creating a budget.
21Step Four: Appropriations Committees $This job is made a little bit easier by dividing spending on specific projects into categories…Twelve different categories!EnergyState Dept & ForeignTransportation & Urban Dev.Financial ServicesInterior & EnvironmentVeterans Affairs & Military ConstructionCommerce, Justice, ScienceLabor, HHS, EducationLegislative BranchHomeland SecurityAgriculture & Rural Dev.Defense
22$ $ Step Four: Appropriations Committees $ Each of these categories is given to an APPROPRIATIONS subcommittee to pass an APPROPRIATIONS bill!$$appropriation = money set aside for a specific purposeFor example…The Appropriations Subcommittee on Defense would decide to set aside $6.5 billion for researching and building a new type of fighter jet.That is an appropriation!
23Step Four: Appropriations Committees $The House and the Senate both split into these 12 smaller committees!House Appropriations CommitteesSenate Appropriations CommitteesEach committee develops a plan for spending money on smaller, specific projects in its category.
25Step Five: Committees Work Together $HouseSenateEach Appropriations Subcommittee from the House meets with the matching Appropriations Subcommittee fromthe Senate…
26Step Five: Committees Work Together $HouseSenate…and they work together, comparing their appropriation bills and making compromises, until each subcommittee has one final version!
27House Budget Resolution STEP TWO: Senate Budget Resolution STEP ONE:President’s ProposalSTEP TWO:House Budget ResolutionSTEP TWO:Senate Budget ResolutionSTEP THREE:Conference Committee to Approve Budget ResolutionsHouse VotesSenate VotesSTEP FOUR:12 House Appropriations SubcommitteesSTEP FOUR:12 Senate Appropriations SubcommitteesSTEP FIVE:Appropriations Committees Work Together & Compromise
28An appropriations bill is… Quick Review!$An appropriations bill is…A. something that balances out mandatory and discretionary spending.B. a bill that manages money spent on the army.C. a bill that lays out how money will be spent on specific projects.D. an equation for solving proportions.
29Congress Votes $ The House votes… The Senate votes… Each committee returns to its house of Congress and presents its appropriations bill.The Housevotes…The Senatevotes…
31Step Six: To the President! $When approved by both houses of Congress, the bills head to the President!
32Step Six: To the President! $Finally, it’s my turn again!The President gets to decide if he will sign the appropriations bills or veto them! If he signs them, they become part of the final budgetAnd all this has to happen by October 1st…*Whew*
33House Budget Resolution STEP TWO: Senate Budget Resolution STEP ONE:President’s ProposalSTEP TWO:House Budget ResolutionSTEP TWO:Senate Budget ResolutionSTEP THREE:Conference Committee to Approve Budget ResolutionsHouse VotesSenate VotesSTEP FOUR:12 House Appropriations CommitteesSTEP FOUR:12 Senate Appropriations CommitteesSTEP FIVE:Appropriations Committees Work Together & CompromiseHouse VotesSenate VotesSTEP SIX:To The President!
34The new federal budget goes into effect on October 1st. The Budget in Action$The new federal budget goes into effect on October 1st.Government agencies (like the Department of Defense or the Department of Energy) can only spend the money that has been appropriated for them by the final bills that were signed by the President.
35Now, let’s review some of the key concepts… $Now, let’s review some of the key concepts…
36Put the six steps in order: $Which comes first?AAppropriations Committees Work TogetherDTo The President!BEConference Committeeto Approve ResolutionsBudget ResolutionsCFPresident’s ProposalAppropriations Committees
37Put the six steps in order: $Which comes second?AAppropriations Committees Work TogetherDTo The President!BEConference Committeeto Approve ResolutionsBudget Resolutions1FPresident’s ProposalAppropriations Committees
38Put the six steps in order: $Which comes third?AAppropriations Committees Work TogetherDTo The President!2EConference Committeeto Approve ResolutionsBudget Resolutions1FPresident’s ProposalAppropriations Committees
39Put the six steps in order: $Which comes fourth?AAppropriations Committees Work TogetherDTo The President!23Conference Committeeto Approve ResolutionsBudget Resolutions1FPresident’s ProposalAppropriations Committees
40Put the six steps in order: $Which comes fifth?AAppropriations Committees Work TogetherDTo The President!23Conference Committeeto Approve ResolutionsBudget Resolutions14President’s ProposalAppropriations Committees
41Put the six steps in order: $Which comes sixth?Appropriations Committees Work Together5DTo The President!Budget Resolutions2Conference Committeeto Approve Resolutions3President’s Proposal1Appropriations Committees4
421 2 3 Great Job! 4 5 6 REVIEW Now in order… $ President’s Proposal Budget Resolutions2Conference Committeeto Approve Resolutions3Great Job!Appropriations Committees45Appropriations Committees Work Together6To The President!
43The federal budget is created between what two days? BONUS QUESTION$The federal budget is created between what two days?
44The first Monday in February and October 1st! BONUS QUESTION$The first Monday in February and October 1st!