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Pages:
2 pages/≈550 words
Sources:
2 Sources
Level:
APA
Subject:
Mathematics & Economics
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
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Topic:

Making of the budget (Coursework Sample)

Instructions:
The goal of this activity is to explore the budget process (the making of the budget) a little more closely, with a focus on the relation between the executive and the legislative branches, which is a critical aspect of the budget process. Step 1: Read through “Introduction to the Federal Budget Process” [published by the Center on Budget and Policy Priorities] http://www(dot)cbpp(dot)org/files/3-7-03bud.pdf Step 2: Answer the following questions; for this portion of the paper you can merely list the questions and provide the answers, BUT this portion of your paper should not merely cut-and-paste from the website, nor should it merely copy direct quotes from the website. Write the report in your own words (although you can use quotes in support of, but not in place of, your writing): 1) What three roles/purposes does the President's budget request serve? 2) What is the first step generally taken by Congress when the president's budget request is received? 3) What are the differences between “budget authority” and “outlays”? 4) What is “authorizing legislation” and what effect does it have on the budget? 5) Both the House and Senate each have a rule requiring that all entitlement increases and tax cuts be fully offset. In the Senate, if this requirement is not met, a senator can raise a “point of order” against the bill. What does this imply? In the House, if a member raises a “point of order,” what happens? Step 3: Select one (1) of the following states and read through the description of their budgeting process by clicking on the highlighted name of the state. Thereafter, identify and briefly explain four ways in which the budget process at the federal level is similar OR different to the budget process for the state you chose (point assessment based on the relevance of the differences/similarities you identified and the explanation provided). This portion of your paper can be written in descriptive/bulleted style, e.g. ‘Difference #1,' ‘ Similarity #1,' etc. Just make sure you provide adequate explanation of each of the four differences/similarities. Arizona - See "Making Sense of the State Budget". See also http://www(dot)azleg(dot)gov/jlbc/budgetprocess.pdf source..
Content:
Budget Preparation Name: Institution: What three roles/purposes does the President’s budget request serve? The three main roles that the president’s budget request plays include; helping the congress establish the recommendation for the federal fiscal policy by the office of the president. This relates to the much money the congress should allocate to spend on the public and the much that should be collected as tax, as well as the difference between the two entities. The request also plays the role of indicating how much the president would want spent on the various priorities that the country has such agriculture, defence, health and education. Then there is the aspect of what changes the presidents would want implemented on taxes and the spending policies (Center on Budget and Policy Priorities, 2011). What is the first step generally taken by Congress when thepresident’s budget request is received? After receiving the president’s request on the budget for the next financial year, the congress is supposed to hold a meeting with the various administrative officials. This meeting is held to establish the budgetary requests from the officials, after which the congress now consolidates its own resolution on the budget, through the committees from the senate and the house. What are the differences between “budget authority” and “outlays”? The budget authority and the outlay are ways in which the congress expresses the spending in the country. But there are differences between the two, where the budget authority is basically the much money the congress allows any fe...
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