Items tagged with Federal Budget:
News & Updates:
The House Appropriations Committee approved a $23.4 billion financial services spending bill that includes a boost to IRS funding; Stock markets continue to rise despite President Trump’s contentious performance at the Group of Seven summit; New applications for U.S. unemployment benefits unexpectedly fell last week; U.S. retail sales increased more than expected in May; Prices for U.S. imports increased 0.6 percent for the second consecutive month in May.
The House Committee voted to advance the Pentagon’s annual spending bill; Speaker Ryan announced House Republicans will vote next week on two bills aimed at addressing the fate of DACA recipient; Fed increases rates as expected; Inflation rose at the fastest rate in six years.
House approves a measure to recover $15 billion in previously appropriated government funding; US Justice Department claims the parts of the Obamacare mandate is unconstitutional; The Atlanta Fed is forecasting a double in the GDP annualized 2017 growth rate.
On Wednesday, President Trump signed a bill that would enact several reforms designed to expand veterans’ access to private health care; The House Appropriations Committee revealed its $674.6 billion Pentagon spending bill; Shortages of affordable homes in the US continue to drive prices.
White House to request $11 billion in spending cuts from Congress; Factory orders rose 1.6% in March, the seventh increase in the last eight months; New applications for U.S. jobless benefits increased less than expected last week.
Congressional Budget Office
Since its founding in 1974, the Congressional Budget Office (CBO) has produced independent analyses of budgetary and economic issues to support the Congressional budget process.
The agency is strictly nonpartisan and conducts objective, impartial analysis, which is evident in each of the dozens of reports and hundreds of cost estimates that its economists and policy analysts produce each year. CBO does not make policy recommendations, and each report and cost estimate discloses the agency’s assumptions and methodologies. CBO provides budgetary and economic information in a variety of ways and at various points in the legislative process. Products include baseline budget projections and economic forecasts, analysis of the President’s budget, cost estimates, analysis of federal mandates, working papers, and more.
Quick link to Products page: http://www.cbo.gov/about/our-products
Quick link to Topics: http://www.cbo.gov/topics
Office of Management and Budget
As the implementation and enforcement arm of Presidential policy government-wide, OMB carries out its mission through five critical processes that are essential to the President’s ability to plan and implement his priorities across the Executive Branch:
- Budget development and execution, a significant government-wide process managed from the Executive Office of the President and a mechanism by which a President implements decisions, policies, priorities, and actions in all areas (from economic recovery to health care to energy policy to national security);
- Management — oversight of agency performance, Federal procurement, financial management, and information/IT (including paperwork reduction, privacy, and security);
- Coordination and review of all significant Federal regulations by executive agencies, to reflect Presidential priorities and to ensure that economic and other impacts are assessed as part of regulatory decision-making, along with review and assessment of information collection requests;
- Legislative clearance and coordination (review and clearance of all agency communications with Congress, including testimony and draft bills) to ensure consistency of agency legislative views and proposals with Presidential policy; and
- Executive Orders and Presidential Memoranda to agency heads and officials, the mechanisms by which the President directs specific government-wide actions by Executive Branch officials.
- Quick link to current budget: http://www.whitehouse.gov/omb/budget/Overview
- Quick link to historical budgets: http://www.gpo.gov/fdsys/browse/collectionGPO.action?collectionCode=BUDGET
- Quick link to “About OMB”: http://www.whitehouse.gov/omb/organization_mission/