From the Congressional Glossary – Including Legislative and Budget Terms Trust Fund / Trust Fund Accounts photo credit: Fristle Funds collected and used by the Federal Government for carrying out specific purposes and programs according to terms of a trust agreement or statute, such as the Social Security trust funds. Accounts designated as “trust funds” … Read more
From the Congressional Glossary – Including Legislative and Budget Terms President’s Budget photo credit: Navin75 The document sent to Congress by the President in January or February of each year, as required by law (31 U.S.C. § 1105), requesting new budget authority for federal programs and estimating federal revenues and outlays for the upcoming fiscal … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Unanimous Consent photo credit: levork Proceedings of the House or Senate and action on legislation often take place upon the unanimous consent of the chamber, whether or not a rule of the chamber is being violated. Unanimous consent is used to expedite floor action and … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Yield Time photo credit: Lori Greig When the Senate has reached a unanimous consent agreement limiting the time for debate and placing it under the control of floor managers, a senator may be recognized to speak only if a manager yields the senator a specified … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Unanimous Consent Agreement / Time Limitation Agreement A device used in the Senate to expedite legislation by spelling out the process for considering a proposal. Much of the Senate’s legislative business, dealing with both minor and controversial issues, is conducted through unanimous consent or unanimous … Read more
photo credit: World Economic Forum [Ezra] Vogel ends his new account of the Paramount Leader [Deng Xiaoping] by asking: ‘Did any other leader in the 20th century do more to improve the lives of so many? Did any other 20th-century leader have such a large and lasting influence on world history?’ Deng Xiaoping and the … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Budget Process Established by the Congressional Budget and Impoundment Act of 1974, the budget process refers to the steps necessary for adoption of a concurrent resolution on the budget, thereby creating the framework for consideration of appropriations bills and authorizing legislation. The Joint Select Committee … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Sequester / Sequestration photo credit: pheezy The cancellation of budgetary resources pursuant to the Budget Enforcement Act of 1990. If canceled, sequestration funds will not be available for obligation or expenditure. Sequestration may occur in response to the enactment of appropriations that cause a breach … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Reconciliation photo credit: Ben Sutherland Reconciliation: Process by which Congress changes existing laws to conform revenue and spending levels to the limits set in a budget resolution. Limited to twenty hours of debate in the Senate. Reconciliation Instruction: A provision within a Budget Resolution directing … Read more
From the Congressional Glossary – Including Legislative and Budget Terms Budget Resolution photo credit: haydnseek Legislation in the form of a concurrent resolution setting forth the congressional budget, but not requiring the president’s signature. The budget resolution establishes various budget totals, divides spending totals into functional categories (e.g., transportation), and may include reconciliation instructions to … Read more