Question

how does the budget work which branch of the federal government creates / originates the budget...

how does the budget work which branch of the federal government creates / originates the budget who must approve the budget and how does this approval process work

Homework Answers

Answer #1

Congress formulates a new budget for US each year. This yearly congressional budget procedure is known as the appropriations procedure.

Appropriations bills state what amount of funds will go to various governmental agencies / programs. Additionally, Congress must approve legislation which provides the central government the legitimate authority to really spend the funds. These directives are known as authorization bills.

There are 5 main steps in the central budget procedure:

  1. President proposes a budget request before Congress
  2. Senate & the House pass budget declarations
  3. Senate & House Appropriations commissions ‘mark-up’ appropriations bills
  4. Senate & House caste their votes on appropriations bills & also resolve differences
  5. President endorses every appropriations bill & then the budget turns into law
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. Which of the following would decrease the size of a federal budget deficit? ?A recession...
1. Which of the following would decrease the size of a federal budget deficit? ?A recession ?An increase in defense spending ?An increase in the use of automatic stabilizers ?An increase in taxes ?An increase in transfer payments 2. Which of the following is true of the federal budget process in the U.S.? Congress must approve a budget with at least a two-thirds majority vote. The federal budget must be balanced each year because the volume of international trade reduces...
Which of the following is an argument against balancing the federal budget? A. The federal government...
Which of the following is an argument against balancing the federal budget? A. The federal government spends and interferes with the economy too much. B. Doing so may prevent the government from paying off its debts. C. Doing so may prevent the government from pulling the economy out of recession. D. An increase in government spending and taxes by the same amount does not affect income.
Government: How does each branch of government ensure that the other two branches listen to their...
Government: How does each branch of government ensure that the other two branches listen to their decisions? In other words, how are decisions made by each branch actually enforced? Are there imbalances in the enforcement capabilities of each branch, and if so how does this affect our governance system?
2. Which branch of government (federal, state or local) do you believe is more efficient and...
2. Which branch of government (federal, state or local) do you believe is more efficient and which impacts your quality of life the most? Why?
How does the branch of literacy study called narratology work and how is it crucial to...
How does the branch of literacy study called narratology work and how is it crucial to medical care?
Q1. Which of the following is true about the United States federal government budget since 1965?...
Q1. Which of the following is true about the United States federal government budget since 1965? A.The federal government has run a budget deficit in most years. B.The federal government has never experienced a budget surplus. C,The federal government has always run a budget deficit. D,The federal government has balanced its budget in most years. Q2: To avoid an increase in the size of the U.S. federal government’s fiscal imbalance, the Congressional Budget office evaluates the impact of a policy...
Most of the current federal government budget procedures come from the following two laws: The Budget...
Most of the current federal government budget procedures come from the following two laws: The Budget and Accounting Act of 1921 and the Congressional Budget and Impoundment Control Act of 1974. Please clearly indicate how each law affects the current federal budget processes. (4 points)
You work for an American firm which is setting up a branch office in Qatar. How...
You work for an American firm which is setting up a branch office in Qatar. How should you react to women in your workforce who wish to relocate to Qatar with your firm?
57) If pressure is put on the government to maintain a balanced budget during a recession....
57) If pressure is put on the government to maintain a balanced budget during a recession. In this scenario, government would need to _____ taxes, which would cause aggregate demand to ____. decrease; decrease increase; decrease decrease; increase increase; increase 58) For the federal budget deficit to be lowered the federal government's expenditures must be lower than its tax revenue the Federal Reserve must reduce the money supply the federal government must decrease its spending and increase net exports the...
The federal government in Australia has been running large budget deficits. The government has stated that...
The federal government in Australia has been running large budget deficits. The government has stated that it will take actions that will turn the budget deficits into budget surpluses over time. Use a market for loanable funds graph to illustrate the effect of the federal budget surpluses. What happens to the equilibrium real interest rate and the quantity of loanable funds? What happens to the level of saving and investment? Now suppose that households believe that surpluses will result in...