The law requires the President to annually submit specified information and is colloquially known as the President’s budget or the presidential budget submission. First required by the Budget and Accounting Act of 1921, the parameters of the submission have changed over the past century. Though some laws require information to be transmitted at the same time as the President’s budget, the formal list of requirements are set forth in 31 U.S.C. 1105.
The document sent to Congress by the President in January or February of each year, as required by law (31 U.S.C. § 1105), requesting new budget authority for federal programs and estimating federal revenues and outlays for the upcoming fiscal year and 4 subsequent outyears. Although the title of the document is Budget of the U.S. Government, it represents proposals for congressional consideration. (See also Budget; app. I.)
Definition of President’s Budget
President’s Budget: The document sent to Congress by the President in January or February of each year, requesting new budget authority for Federal programs and estimating Federal revenues and outlays for the upcoming fiscal year.
[The Congressional Budget Process: An Explanation, Appendix J (Glossary), Committee on the Budget of the U.S. Senate, S. Prt. 105-67 (Revised December 1998).]