How the Federal Budget Process Works

On May 28, 2021, the Biden administration formally announced its proposed federal budget for fiscal year (FY) 2022

The budget proposal is the product of work undertaken throughout the executive branch under the direction of the White House Office

Management and Budget (OMB) to determine the financial requirements for running the government.

It covers ongoing government activities as well as expenditures for any new programs sought by the president for the government’s next fiscal year,

beginning Oct. 1, 2021, and ending Sept. 30, 2022. Upon its release by the White House, the budget is submitted to Congress,

initiating a formal legislative process of evaluation, debate, and amendment intended to culminate in the budget’s enactment.

The president submits the budget to Congress for review and passage by both chambers.