creating the budget
DESCRIPTION
Creating the Budget. $. Where does the federal budget come from??. The Federal Budget. $. Let’s review a key concept… What is a budget? . The Federal Budget. $. A budget is… . A. a type of plan for printing money. . I see! A budget is a plan for receiving and spending money. . - PowerPoint PPT PresentationTRANSCRIPT
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WHERE DOES WHERE DOES THE FEDERAL THE FEDERAL BUDGET COME BUDGET COME
FROM??FROM??
Creating the Creating the BudgetBudget
$
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Let’s review a key concept… What is a budget?
The Federal BudgetThe Federal Budget$
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The Federal BudgetThe Federal Budget$
A budget is… A. a type of plan for printing
money. B. something the government
uses to measure things. C. a plan for receiving and
spending money. D. a pet bird.
I see! A budgetbudget is a plan for receiving and spending money.
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The federal budget is… A. a type of plan for printing
money. B. the US government’s plan
for managing revenue and spending. C. the President’s plan to save a lot of money.
D. a really big pet bird.
I see! the federalfederal
budgetbudget is the US government’s plan for managing revenue and
spending.
The Federal BudgetThe Federal Budget$
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Creating the Federal BudgetCreating the Federal Budget$
Now that you know what the federal budget is… (a plan for managing (a plan for managing
revenue and spending)… revenue and spending)…
you will learn about how the federal budget is created!
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Creating the Federal BudgetCreating the Federal Budget$
The goal is forTHIS PERSONandTHESE PEOPLE
to work together to create a
federal budget for the country.
The The PresidentPresident
The The CongressCongress
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Creating the Federal BudgetCreating the Federal Budget$
The first thing you should know is that it takes over a year for a budget to be created.
I get to go first!
The President and his team at the Office of Management and
Budget work to develop a proposal for the budget.
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Step One: President’s Proposal Step One: President’s Proposal $
This budget proposal is due on the1st 1st MondayMonday in in February February
and it includes the following things: • spending priorities
• plans for raising revenues through taxes
• lots of documents supporting each item!!
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STEP ONE: President’s Proposal
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Step Two: Budget ResolutionsStep Two: Budget Resolutions$
The House of Representatives comes up with its plan for the
budget… In order to develop their plans, they take several things into consideration:• the President’s budget outline• the previous year’s budget • new programs or projects that government agencies want to start
The Senate comes up with its plan for the
budget…
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Step Two: Budget ResolutionsStep Two: Budget Resolutions$
These budget plans include lots of details and contain
tables like this:
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Step Two: Budget ResolutionsStep Two: Budget Resolutions$
These plans are called RESOLUTIONS…A budget resolution budget resolution is a
document that lays out a rough budget. It is a plan for Congress as they work
to create an official budget.
Rough Draft
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STEP ONE: President’s Proposal
STEP TWO:House Budget
Resolution
STEP TWO:Senate Budget
Resolution
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Quick Review! Quick Review! $
A budget resolution is…
A. a budget plan that the President must sign into law.
B. a plan written by Congress that sets guidelines for the budget.
C. when two people come together to get over their financial differences. D. the stuff you spray on stains on your carpet, right?
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Step Three: Conference Step Three: Conference CommitteeCommittee
$Once budget resolutions are made, it is time for
the House and the Senate to come together to create the budget!
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Step Three: Conference Step Three: Conference CommitteeCommittee
$Selected Representatives from the House…
And selected Senators from the Senate…
come together in a…CONFERENCE CONFERENCE
COMMITTEECOMMITTEE
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Step Three: Conference Step Three: Conference CommitteeCommittee
$CONFERENCE CONFERENCE COMMITTEECOMMITTEE
A Conference Committee Conference Committee brings the House and
Senate committee members together to resolve
differences between the two houses of Congress.
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The goal of this Conference
Committee is to approve one final budget resolution that combines the
House and the Senate’s budget
resolutions.
Step Three: Conference Step Three: Conference CommitteeCommittee
$CONFERENCE CONFERENCE COMMITTEECOMMITTEE
HouseBudget
Resolution
SenateBudgetResolution
JOINT Budget
Resolution
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STEP ONE: President’s Proposal
STEP TWO:House Budget
Resolution
STEP TWO:Senate Budget
ResolutionSTEP THREE:
Conference Committee to Approve Budget
Resolutions
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$
Step Four: Appropriations Step Four: Appropriations CommitteesCommittees
Once the Conference Committee has created a
joint budget resolution the House and Senate have to tackle the massive project
of creating a budget.
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$
Step Four: Appropriations Step Four: Appropriations CommitteesCommittees
This job is made a little bit easier by dividing spending on specific projects into
categories…
Agriculture & Rural Dev.
Commerce, Justice, Science Defens
e
Energy
Legislative Branch
Financial Services
Homeland Security
Labor, HHS,
Education
Veterans Affairs & Military
Construction
Interior & Environmen
t
Transportation & Urban
Dev.
State Dept &
Foreign
Twelve different categories!
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$
Step Four: Appropriations Step Four: Appropriations CommitteesCommittees
Each of these categories is given to an APPROPRIATIONS APPROPRIATIONS subcommittee to pass an
APPROPRIATIONS APPROPRIATIONS bill! appropriation = money set aside for a specific
purpose$ $For example…
The Appropriations Subcommittee on Defense would decide to set aside $6.5
billion for researching and building a new type of fighter jet.
That is an appropriation!
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$
Step Four: Appropriations Step Four: Appropriations CommitteesCommittees
The House and the Senate both split into these 12 smaller committees!
Each committee develops a plan for spending money
on smaller, specific projects in its category.
House Appropriations House Appropriations CommitteesCommittees
Senate Appropriations Senate Appropriations CommitteesCommittees
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STEP ONE: President’s Proposal
STEP TWO:House Budget
Resolution
STEP TWO:Senate Budget
ResolutionSTEP THREE:
Conference Committee to Approve Budget
ResolutionsHouse Votes Senate Votes
STEP FOUR:12 House
Appropriations Committees
STEP FOUR:12 Senate
Appropriations Committees
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Step Five: Committees Work Step Five: Committees Work Together Together
$
Each Appropriations Subcommittee from the House meets with the
matching Appropriations Subcommittee
from the Senate…
HouseHouse SenatSenatee
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Step Five: Committees Work Step Five: Committees Work Together Together
$
…and they work together,
comparing their appropriation
bills and making compromises,
until each subcommittee has one final
version!
HouseHouse SenatSenatee
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STEP ONE: President’s Proposal
STEP TWO:House Budget
Resolution
STEP TWO:Senate Budget
ResolutionSTEP THREE:
Conference Committee to Approve Budget
ResolutionsHouse Votes Senate Votes
STEP FOUR:12 House
Appropriations Subcommittees
STEP FOUR:12 Senate
Appropriations Subcommittees
STEP FIVE:Appropriations Committees
Work Together & Compromise
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Quick Review! Quick Review! $
An appropriations bill is… A. something that balances out
mandatory and discretionary spending.
B. a bill that manages money spent
on the army. C. a bill that lays out how money
will be spent on specific projects. D. an equation for solving proportions.
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Congress VotesCongress Votes$
The Senate votes…
The House votes…
Each committee returns to its house of Congress and presents its appropriations bill.
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STEP ONE: President’s Proposal
STEP TWO:House Budget
Resolution
STEP TWO:Senate Budget
ResolutionSTEP THREE:
Conference Committee to Approve Budget
ResolutionsHouse Votes Senate Votes
STEP FOUR:12 House
Appropriations Committees
STEP FOUR:12 Senate
Appropriations Committees
STEP FIVE:Appropriations Committees
Work Together & Compromise
House Votes Senate Votes
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When approved by both houses of
Congress, the bills head to the President!
Step Six: To the President!Step Six: To the President!$
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Step Six: To the President!Step Six: To the President!$
Finally, it’s my turn again!
The President gets to decide if he will sign
the appropriations bills or veto them! If he signs them, they
become part of the final budget
And all this has to happen by October October
11stst… *Whew*
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STEP ONE: President’s Proposal
STEP TWO:House Budget
Resolution
STEP TWO:Senate Budget
ResolutionSTEP THREE:
Conference Committee to Approve Budget
ResolutionsHouse Votes Senate Votes
STEP FOUR:12 House
Appropriations Committees
STEP FOUR:12 Senate
Appropriations Committees
STEP FIVE:Appropriations Committees
Work Together & Compromise
House Votes Senate Votes
STEP SIX: To The President!
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The Budget in ActionThe Budget in Action$
The new federal budget goes into effect on October
1st. Government agencies (like the Department of Defense or the
Department of Energy) can only spend the money that has been appropriated for them by the final bills that were signed by
the President.
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$REVIEWREVIEW
Now, let’s review some of the key concepts…
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$Put the six steps in order:Put the six steps in order:
Which comes first?
Conference Committee to Approve Resolutions
Appropriations Committees Work
Together
To The President!
Appropriations Committees
President’s Proposal
Budget Resolutions
AB
C
DE
F
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$
Which comes second?
Conference Committee to Approve Resolutions
Appropriations Committees Work
Together
To The President!
Appropriations Committees
President’s Proposal
Budget Resolutions
AB
11
DE
F
Put the six steps in order:Put the six steps in order:
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$
Which comes third?
Conference Committee to Approve Resolutions
Appropriations Committees Work
Together
To The President!
Appropriations Committees
President’s Proposal
Budget Resolutions
A2211
DE
F
Put the six steps in order:Put the six steps in order:
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$
Which comes fourth?
Conference Committee to Approve Resolutions
Appropriations Committees Work
Together
To The President!
Appropriations Committees
President’s Proposal
Budget Resolutions
A2211
D33
F
Put the six steps in order:Put the six steps in order:
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$
Which comes fifth?
Conference Committee to Approve Resolutions
Appropriations Committees Work
Together
To The President!
Appropriations Committees
President’s Proposal
Budget Resolutions
A2211
D33
44
Put the six steps in order:Put the six steps in order:
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$Which comes sixth?
To The President!Appropriations Committees Work
Together55
Budget Resolutions22President’s Proposal11
DConference Committee to Approve Resolutions33
Appropriations Committees
44
Put the six steps in order:Put the six steps in order:
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REVIEWREVIEW$
Now in order…
To The President!
Appropriations Committees Work
Together
55
Budget Resolutions22President’s Proposal11
Conference Committee to Approve Resolutions33Appropriations
Committees44
66
Great Job!
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$BONUS QUESTIONBONUS QUESTION
The federal budget is created
between what two days?
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BONUS QUESTIONBONUS QUESTION$
The first Monday in
February and October 1st!