Tag: Congressional Budget Act

Baseline / Baseline Budgeting / Scorekeeping (CongressionalGlossary.com)

Baseline / Baseline Budgeting / Scorekeeping (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Baseline / Baseline Budgeting / Scorekeeping   Dan Mitchell Discussing Dishonest Budget Numbers with John Stossel   Baseline: Projection of future revenues, budget authority, outlays, and other budget amounts under assumed economic conditions and participation rates without a change in current policy. The Congressional Budget […]

Budget Deficit / Budget Surplus (CongressionalGlossary.com)

Budget Deficit / Budget Surplus (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Budget Deficit / Budget Surplus   Lesson 1 National Debt & Budget Deficit Explained   The relationship between spending and revenues is reflected in the surplus or deficit figure. A surplus is an excess of revenues over outlays, while a deficit is an excess of […]

Deeming Resolution (CongressionalGlossary.com)

Deeming Resolution (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Deeming Resolution “Deeming resolution” is a term that refers to legislation deemed to serve as an annual budget resolution for purposes of establishing enforceable budget levels for a budget cycle. A deeming resolution is used when the House and Senate are late in reaching final […]

Concurrent Resolution on the Budget (CongressionalGlossary.com)

Concurrent Resolution on the Budget (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Concurrent Resolution on the Budget photo credit: JPC24 The Concurrent Resolution on the Budget is often referred to as the Congressional Budget. A concurrent resolution adopted by both chambers of Congress as part of the annual budget and appropriations process, setting forth an overall budget […]

Offsetting Receipts (CongressionalGlossary.com)

Offsetting Receipts (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Offsetting Receipts photo credit: dev null Collections that are offset against gross outlays but are not authorized to be credited to expenditure accounts. Offsetting receipts are deposited in receipt accounts. Like offsetting collections, they result from (1) businesslike transactions or market-oriented activities with the public, […]

Offsetting Collections (CongressionalGlossary.com)

Offsetting Collections (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Offsetting Collections photo credit: Seth Tisue Collections authorized by law to be credited to appropriation or fund expenditure accounts. They result from (1) businesslike transactions or market-oriented activities with the public, (2) intragovernmental transfers, and (3) collections from the public that are governmental in nature […]

Budget Resolution (CongressionalGlossary.com)

Budget Resolution (CongressionalGlossary.com)

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 […]

The Presidential Budget Process

The Presidential Budget Process

Title III of the Congressional Budget Act requires that the President submit his proposed budget to Congress no later than the first Monday in February. The President’s budget is actually only a request made to Congress, and Congress is under no obligation to adopt the budget or consider the recommendations of the President. photo credit: […]