Budget of the U.S. Government, Fiscal Year 2017, published by the Office of Management and Budget, 2016
Under current law, the president must submit a budget proposal to Congress every year by the first Monday in February. The budget submitted to Congress for fiscal year 2017 was approximately $4.1 trillion.
Architect of the Capitol
Managing the Federal Budget
After World War I, the federal government grew exponentially due to its more active role in military and foreign policy. As federal spending rose, Congress sought to rationalize its decision-making process regarding government revenues and expenditures. Congress enacted the Budget and Accounting Act, which established a budget process for the executive branch and shifted many budgetary powers from Congress to the president. The 1921 act, as amended, remains the legislative basis for the nation’s executive budgetary system.