From the Congressional Glossary – Including Legislative and Budget Terms Budget and Accounting Act of 1921 Panel 1: The History of the 1921 and 1974 Budget Acts The Budget and Accounting Act of 1921 (Pub.L. 67-13, 42 Stat. 20–27) required for the first time that the president submit to Congress each year a … Read more
From the Congressional Glossary – Including Legislative and Budget Terms President of the United States / State of the Union
From the Congressional Glossary – Including Legislative and Budget Terms Office of Management and Budget / OMB The core mission of OMB is to serve the president of the United States in implementing his vision across the executive branch. OMB is the largest component of the Executive Office of the President. It reports directly to … 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