United States Senate Committee on the Budget - Similar companies

The Senate Budget Committee’s principal responsibility is to develop a concurrent resolution on the budget to serve as the fr ... amework for congressional action on spending, revenue, and debt-limit legislation. Each chamber introduces its own resolution, which, when jointly agreed to by the House and the Senate, becomes the so called “budget resolution.” The adoption of the resolution does not result in a new law of the United States, as the president does not sign the resolution. The Senate Budget Committee is also responsible for the enforcement of this concurrent resolution and associated budget laws. Budget enforcement is accomplished by informing senators when budget “points of order” apply because of violations to the budget, and by working with other committees during the crafting of legislation to address potential violations. The committee also tracks the appropriations process throughout the year to make sure that spending levels in appropriations bills conform to the levels set forth in the budget resolution. Through the budget resolution, the Committee can also initiate and enforce the budget reconciliation process, a piece of legislation that is written to bring about specific identified fiscal goals. A reconciliation bill, if passed and signed by the president, carries with it the full force of law. The Committee also holds hearings on the economy, oversight hearings to monitor the performance of government agencies, and hearings to consider nominations for the president’s Office of Management and Budget. read more