Budget Update in the United States

Budget Update in the Federal Budget Process

Meaning of Budget Update in the congressional and executive budget processes (GAO source): A revised estimate of budget authority, receipts, and outlays issued subsequent to the issuance of the President’s budget. The President is required by provisions of the Congressional Budget and Impoundment Control Act of 1974 (see provisions of 31 U.S.C. §§ 1105(d), 1106) to transmit such statements to Congress by July 15 of each year; however, the President may also submit budget updates at other times during the fiscal year. (See also Budget Estimates.)

Resources

See Also

• Federal Appropriations
• Entries about the United States Budget Process in the Encyclopedia (including Budget Update)
• Public Debt

Further Reading

• Legislatures and the budget process: the myth of fiscal control

  (J Wehner, 2010)

• Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
• Fiscal institutions and fiscal performance

  (JM Poterba, J von Hagen, 2008)