What is the history of the federal budget process? Q.What is the history of the budget process? A.In 1972, President Richard Nixon impounded funds for various social programs. Nixon argued that because Congress lacked a process for controlling the federal budget, budget deficits might expand irresponsibly if the president lacked the power to block funding. Congress responded by establishing a formal budget process through the Congressional Budget and Impoundment Control Act of 1974. Read more about What is the history of the federal budget process?
How does the federal budget process work? Q.How does the budget process work? A.Ideally, following submission of the president’s budget proposal, Congress passes a concurrent budget resolution setting total spending, revenue, and deficit targets for at least the next five years, and then passes annual appropriation bills to fund discretionary programs and legislation to enact any changes to mandatory programs and taxes. The process has typically broken down at various points in recent years, however, with Congress failing to pass a concurrent resolution or not completing timely action on appropriations. Read more about How does the federal budget process work?
What are rescissions? Q.What are rescissions? A.The rescission process allows a president to avoid spending money on discretionary programs that has been appropriated by the Congress, but not yet obligated for the purchases of goods and services. Read more about What are rescissions?
