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Congressional Action
The Budgeting Calendar of Events
26
Finance
Graduate
08/20/2011

Additional Finance Flashcards

 


 

Cards

Term
Budget Policy Development
Definition
December - April
Term
Budget Committees hold hearing in preparation for drafting the concurrent resolution of the budget.
Definition
January
Term
Congress receives President's budget between this specific time.
Definition
The first Monday in January and the first Monday in Feburary.
Term
House and Senate Appropriations Committees jointly hold special hearings on budget overview with Director, OMB and Chairman of the Council of Economic Advisers.
Definition
January
Term
Budget Committees receive views and estimates of all committees within 6 weeks after President's budget is submitted.
Definition
Feburary
Term
Budget Committees begin drafting the concurrent reolution of the budget.
Definition
February
Term
House & Senate Appropriations Committees seperately hold hearings and review justifications from each agency.
Definition
February
Term
Budget Committees draft budget resolutions in a series of publick meetins called "mark-ups".
Definition
March
Term
In Congress each house adopts a Budget Resolution.
Definition
March
Term
Budget Committees report concurrent resolution to their respective Houses. The resolution sets spending revenue and other budget targets for the upcoming fiscal year.
Definition
April
Term
In the Congress differences are worked out by House/Senate conference.
Definition
April
Term
Appropriation committees jointly make spending allocations based on budget resolution.
Definition
April
Term
Action on Individual Bills
Definition
May - August
Term
Congress adopts a Concurrent Budget Resolution by this date.
Definition
April 15
Term
House appropriation committee drafts appropriation bill and reports.
Definition
May
Term
Within the Congress the House debates and passes appropriation bills with or w/o amendments by this date.
Definition
June 30
Term
Senate receives the House passed bills and refers to Senate Appropriations Commmittees.
Definition
July or August
Term
Congress receives mid-year Presidential update of the budget estimates on this date.
Definition
July 15
Term
House Appropriations Committee has the full committee review action of subcommittes and adopts or revises bills and reports.
Definition
June
Term
House appropriation committees report regular appropriation bills by this date.
Definition
June 10
Term
Senate Appropriations Sub-committee draft revisions of house bills and reports.
Definition
June
Term
Senate debates and passes appropriation bills with or without amendments to be sent to conference committee or directly to the President.
Definition
August
Term
Full Senate Appropriations committees review actions of subcommittees and either adopt or revise bills and reports.
Definition
August
Term
Congress sends appropriation bills to the President for his approval or veto.
Definition
Septemeber
Term
If appropriation action is not completed by this date, or if Congress does not override a Presidential veto, then the affected programs may be covered in a continuing resolution.
Definition
September 30
Term
New Fiscal Year Begins
Definition
October
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