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The Federal Budget Process

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

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The Federal Budget Process

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  1. The Federal Budget Process

  2. 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

  3. The Federal Budget Process Today • The Fiscal Year • Multi-year Process

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

  5. 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

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

  7. 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

  8. Process of Appropriations Action • Full Committee Markup & Floor Action • Conference • Presidential Action

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