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