The Budget for Fiscal Year 2005 (CRS Report for Congress)
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| Release Date |
Revised Dec. 12, 2005 |
| Report Number |
RL32264 |
| Report Type |
Report |
| Authors |
Philip D. Winters, Government and Finance Division |
| Source Agency |
Congressional Research Service |
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Summary:
Presidents generally submit their budget proposals for the upcoming fiscal year(FY) early in each calendar year. The Bush Administration released its FY2005budget (The Budget of the U.S. Government, Fiscal Year 2005) on February 2, 2004.The multiple volumes contained general and specific descriptions of theAdministration's policy proposals and expectations for the budget for FY2005through FY2009. It contained limited information on the revenue and mandatoryspending changes after 2009, and a section on long-term fiscal issues facing thenation. The full set of budget documents (Budget, Appendix, Analytical Perspectives,Historical Tables, among several others) contains extensive and detailed budgetinformation, including estimates of the budget without the proposed policy changes(current service baseline estimates), historical budget data, detailed budget authority,outlay and receipt data, selected analysis of specific budget related topics, and theAdministration's economic forecast. In addition to its presentation of theAdministration's proposals, the budget documents are an annual reference source forfederal budget information, including enacted appropriations.The Administration's annual budget submission is followed by congressionalaction on the budget. This usually includes the annual budget resolution,appropriations, and, possibly, a reconciliation bill (or bills) as required by the budgetresolution. Over the course of deliberation on the budget, the Administration oftenrevises its original proposals as it interacts with Congress and as conditions changein the economy and the world.
