Federal budget

Federal budgets are the national budgets of federations, including:

Federal budget (economics)

In economics, a federal budget is a plan for the federal government’s revenues and spending for the coming year.

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References

United States federal budget

The Budget of the United States Government often begins as the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1 and ending on September 30 of the year following. The fiscal year is named for the year in which it ends. However, Congress is the body required by law to pass appropriations annually and to submit funding bills passed by both houses to the President for signature. Congressional decisions are governed by rules and legislation regarding the federal budget process. Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various federal programs.

If Congress fails to pass an annual budget, a series of Appropriations bills must be passed as "stop gap" measures. After Congress approves an appropriations bill, it is sent to the President, who may sign it into law, or may veto it (as he would a budget when passed by the Congress). A vetoed bill is sent back to Congress, which can pass it into law with a two-thirds majority in each chamber. Congress may also combine all or some appropriations bills into an omnibus reconciliation bill. In addition, the president may request and the Congress may pass supplemental appropriations bills or emergency supplemental appropriations bills.