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 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
The federal budget process typically involves a rather complex series of legislative and executive procedures and various financial transactions. photo credit: Evelyn Proimos The term Revenue refers to income that is received by the federal government. (The executive branch also uses receipts as a term for revenue.) Revenue may be raised from a variety of … Read more