The President's Budget: Overview of Structure and Timing of Submission to Congress

The Budget and Accounting Act of 1921, as amended and later codified in the U.S. Code, requires the President to submit a consolidated federal budget to Congress toward the beginning of each regular session of Congress. Under 31 U.S.C. Section 1105a, the President must submit the budget which contains budgetary proposals, projections, and other required reports to Congress on or after the first Monday in January, but no later than the first Monday in February. The Presidents budget, or the Budget of the United States Government as it is referred to in statute, is required to include in part 1 estimates of spending, revenues, borrowing, and debt 2 detailed estimates of the financial operations of federal agencies and programs 3 the Presidents budgetary, policy, and legislative recommendations and 4 information supporting the Presidents recommendations. The Presidents budget also contains budgetary proposals for the legislative and judicial branches. These proposals are transmitted to the President and submitted, without change, as part of the Presidents budget submission to Congress. There are a number of reports that are required to be submitted along with, or at the same time as, the Presidents budget, such as an annual federal government performance plan and a report estimating the annual costs and benefits of federal rules.