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1 (January 28, 2004)

handle is hein.crs/crsmthaazqg0001 and id is 1 raw text is: Order Code RS20095 Updated January 28, 2004 CRS Report for Congress Received through the CRS Web The Congressional Budget Process: A Brief Overview James V. Saturno Specialist on the Congress Government and Finance Division Summary The term budget process, when applied to the federal government, actually refers to a number of processes that have evolved separately and that occur with varying degrees of coordination. This overview, and the accompanying flow chart, are intended to describe each of the parts of the budget process that involve Congress, clarify the role played by each, and explain how they operate together. They include: the President's budget submission, the budget resolution, reconciliation, sequestration, authorizations, and appropriations. This report will be updated to reflect any changes in the budget process. The Basic Framework. The Constitution grants the power of the purse to Congress,' but does not establish any specific procedure for the consideration of budgetary legislation. Although a number of laws and congressional rules contribute to the federal budget process, two statutes in particular form the basic framework. The Budget and Accounting Act of 1921, as codified in Title 31 of the United States Code, established the statutory basis for an executive budget process by requiring the President to submit to Congress annually a proposed budget for the federal government. It also created the Bureau of the Budget (reorganized as the Office of Management and Budget (OMB) in 1970) to assist him in carrying out his responsibilities, and the General Accounting Office (GAO) to assist Congress as the principal auditing agency of the federal government. The Congressional Budget and Impoundment Control Act of 1974 (P.L. 93-344, 88 Stat. 297) established the statutory basis for a congressional budget process, and provided 1 Article I, Section 8 provides that The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, and Section 9 provides that No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law. Congressional Research Service **o The Library of Congress

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