Management Sample Essay on President’s Budget and the Congressional Budget process

President’s Budget and the Congressional Budget Process

The term budget process is the number of procedures that develop independently and that arise with contrasting levels of harmonization. This paper attempts to describe each part of the budget process involving the Congress, and the president’s budget process. The budget process has three steps: progression of the budget plan compliance and validation of the President’s budget plan, and execution of approval appropriateness and other budgetary laws. The President’s budget is a statement of the President’s plans precedence and an incorporated plan for the distribution of centralized budgetary possessions. The President’s budget is a set of suggestions in which the Congress has a choice of executing the incorporated offers. The president is required to present to the Congress a planned financial plan by the first Monday in February, and the advancement commences 18 months before the financial year (Streeter, 2010, pg.10). It is an inclusive examination of centralized revenues and expenditure, together with any proposal suggested by the President, and is the establishment of wide relations with Congress.

Within six weeks of the President’s budget assent, congressional committees are obligated to present their “views and estimates” of expenditure and revenues in their relevant commands to the House and Senate Budget Committees. Every Budget Committee then employs these views and estimates, alongside the information from other sectors, in planning and reporting a concurrent resolution on the budget to its respective house. In practice, the President has handed over to Office of Management and Budget (OMB), assured budgetary responsibilities and jurisdiction required for developing the financial plan. OMB organizes the progress of the President’s budget scheme by issuing circulars, memos, and direction documents to the leaders of directive agencies (Streeter, 2010, pg.10). Directive agencies then put in order their budget requirements in harmony with the directives and supervision offered by OMB.

The Budget Resolution and Reconciliation

The budget resolution signifies an agreement that involves the House and Senate pertaining to the general size of the national budget, and the common composition of the financial plan in terms of practical classifications. The sums in practical classifications are interpreted into provision to each group with influence over expenditure in a method called “cross walking” under Section 302(a) of the Congressional Budget proceed (Schick, 2007, pg.121). The laws implemented by the house must be dependable with these allocations as well as with the degree of expenditure and revenues. Reconciliation instructions that are included in the budget resolution identify the committee that must advocate the modifications in the law involving revenues or direct expenditure programs in their command.

The Appropriations Process

The yearly appropriations procedure offers funding for unrestricted expenditure programs through 13 regular appropriations by laws that are created by 13 subcommittees. The congress has to ratify the procedures before the start of the financial year. Restrictions in terms of the sum of financial support are current on numerous levels. For a person’s agenda, money may be restricted to the degree suggested in empowered laws (Joyce, 2011, pg.35).

Revenue and Public Debt Legislation

The revenue level decided upon in the budget declaration acts as a least, warning deliberation of revenue legislation that it will reduce revenue less that degree. Additionally, Article I, Section7 of the Constitution calls for all revenue procedures to start from the House of Representatives, even though the Senate may modify them, like other laws .The budget resolution also identifies a proper level for the public arrears that reveals the budgetary plans approved in the declaration. Any modification in the certified rank of the civic debt ought to be executed through a legislative endorsement.

References

Joyce, P. G. (2011). The Congressional Budget Office: Honest numbers, power, and policymaking. Washington, D.C: Georgetown University Press.

Schick, A. (2007). The federal budget: Politics, policy, process. Washington, D.C: Brookings Institution Press.

Streeter, S., Library of Congress. & Capitol.Net, Inc. (2010). The federal budget process: A description of the federal and congressional budget processes, including timelines. Alexandria, VA: Capitol.Net.