The Federal Budget Process. What is the Federal Budget Process  A Set of Rules and Institutions for Making Tax (revenue) and Spending Decisions  A Result.

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Presentation transcript:

The Federal Budget Process

What is the Federal Budget Process  A Set of Rules and Institutions for Making Tax (revenue) and Spending Decisions  A Result of Many Different Laws: Budget and Accounting Act of 1921 Congressional Budget and Impoundment Control Act of 1974 Balanced Budget and Emergency Deficit Control Act of 1985 Budget Enforcement Act of 1990

The Federal Budget Process Today  The Fiscal Year  Multi-year Process

Budget Preparation  Internal agency process – developing a budget request  Interaction between agencies and OMB  President’s budget recommendation

Budget Approval: The Budget Resolution  Development of budget resolution “Concurrent” resolution (set of rules to govern Congressional budget actions) Under the jurisdiction of House and Senate Budget Committees Scheduled to be adopted by April 15 Two key components Aggregate numbers Committee allocations

Budget Approval: The Appropriations Process  Section 302 (b) Allocations Division of overall pie into slices by subcommittee  Committee Action Subcommittee markup

12 Appropriations Bills (Subcommittees) Agriculture Commerce, Justice, State and Judiciary Defense Energy and Water Financial Services Homeland Security Interior & Environment Labor – HHS – Education Legislative Branch Military/Veterans State/Foreign Operations Transportation/HUD

Process of Appropriations Action  Full Committee Markup & Floor Action  Conference  Presidential Action