Week 8: The Budget And Appropriations Process Flashcards
First Monday in February
President submits budget
February 15
CBO submits budget outlook
Mid-March
Committees submit views and estimates
April 1 budget committee reports budget resolution
April 15 congress completes budget resolution
May 15 house may consider appropriations bills
June 10 house appropriations reports last bill
June 30 house completes action on appropriations
Fiscal year begins October 1
Office of management and budget assists the president in
- Budget development and execution
- Management of agency performance, human capital, IT
- Coordinates regulatory policy
- Coordinate legislative action
- Deals with executive orders
Budget Actors
President Congress: • budget committees • appropriations committees • authorizing committees • tax committees • scorekeepers - Congressional Budget Office/Joint Tax Committee
Budget Committees
House and senate budget committees
Senate budget committee
- Mills over any bill that concerns the federal budget
- Must approve any budgetary resolutions that determines how much the federal government will spend in any given fiscal year. In that capacity, the committee has jurisdiction over the Congressional Budget Office
- Created in 1975 and was chaired by former democratic presidential hopeful Edmund Muskie (D - ME)
Senate Appropriations committees
Largest of all senate committees. Responsible for all revenue bills that come out of the House.
It is also tasked with developing supplemental spending bills to address issues arising in the middle of a fiscal year
House appropriations committee
Because the house is the birthplace of all appropriations bills
This committee was created to be responsible for all revenue legislation, including the source of the federal government budget.
They also wade through the various earmarks attached to each bill.
Earmarks
“Hidden” congressional provision that directs federal government to fund specific projects or exempts specific people or groups from paying specific federal taxes or fees
Presidents Budget
- submitted annually by first Monday in February
- contains presidents discretionary and mandatory spending priorities, tax policies, and debt
- 10 year budget projections
- can be starting point for budgets discussions with congress
Presidents signature required on legislation
Concurrent Budget Resolution
- sets congressional budget priorities / rules
- cannot be filibustered. Can pass Senate with 51 votes. But 50 hours of debate and virtually unlimited amendments
- requires agreement between house and senate to enforce
DOES NOT REQUIRE PRESIDENTS SIGNATURE