How does the
budget go from an idea to a law?
February, the Office of Management and Budget, which is part of the
White House, releases the President's budget requests for the next
fiscal year, which starts October 1. The House of Representatives and
the Senate subcommittees hold hearings, make changes, and send the
final bills to the floor for a vote. Once each chamber has passed the
appropriations bills, the President signs it into law and the budget
officially takes effect on the first day of the next fiscal year. See
Budget 101 ...