American Laws That Affected Today Budget - Assignment Example

However, through the Bureau of budget formed in 1970 during President Nixon’s Administration which was and is still referred to as the Office of Management and Budget (OMB). This office is the largest office in the Executive Office of the President, and is mandated to advise the president on issues related to budgeting and finance, also to countercheck and oversee budget and financial management of other executive branch groups (Gibbler, 2006, p. 14). Congressional ActionIn the congressional; action process, the budgeting committee through the Congressional act of 1974 directs that the president submits the proposed budget to the House and Senate Budget committees so that the budget resolution may be created to serve as a universal framework through which the decisions of specific government spending and tax levies would be based upon.

However, they do mot make budget nor do they require the president’s signature but their mandate is to establish the budget structure to avoid both misappropriation and overestimation of the US Budget.The Budget Resolution The process is mandated to layout a guideline plan for government tax and disbursement in the next fiscal year. The Budget Resolution is mandated to dictate the amount of money that no government is permitted to pay out in the 20 Budget allocations. This process is controlled by the Committee on appropriation (Gibbler, 2006, p. 38).Discretionary Spending and the Appropriations ProcessThe process is mandated to take effect after the budget is through.

Through the Appropriation Bill, the process should distribute funds to the key government programs through agencies to ensure that the prospective departments receive funding as appropriated in the budget (Gibbler, 2006, p. 72). TaxesDue to the poor economic state affecting the whole world, tax rates should be reviewed so that the country and world businesses move. At present, business is at a standstill being that traders spend much during service delivery just to realize that they are making losses.

Most people increase the prizes of food products claiming that the prize of the dollar – the US that controls the global finance is down, this could only be averted when the government of the USA gets to discuss the process to be followed to bring the country out of poverty (Gibbler, 2006, p. 17). Although the tax cuts that were enacted in 2001 expired in 2010, the federal government has exceeded a 20% GDP rate once since WWII to reach 20.9% which was experienced in the year 2000.Failings of Recent Health Care ProposalsThe high rate s of healthcare demands compared to the reducing number of workers greatly affects the US economy.

However, when the output is more than the input in any business then it is likely that the business may not thrive in the near future. The efforts to implement healthy schemes in America are yet to be achieved being that the working population is still low. The government should consider only severe cases so that the economy gets back to a better state before creating more jobs to absorb the many jobless citizens (Gibbler, 2006, p. 24). (b) Discuss how these laws have affected the roles of the executive and legislative branches in the budget process.

The taxation law has greatly affected the quality of services delivered in the US, this culminated in joblessness as the companies are not willing to lose their market due to staff who demand payments every month (Gibbler, 2006, p. 29). (c) How is the overall intent of the Gramm-Rudman-Hollings Budget Act of 1985 and of the 1990 Budget Enforcement Act (BEA) different from the scope and intent of the 1921 and 1974 laws?Comparing the budget enforcement of 1985 and 1990 to the budget of 1921 and 1974, it is clear that by the years 1985 and 1990 people had realized the importance of saving hence well information about the strategies aimed at developing the American future (Gibbler, 2006, p. 35). However, President Bush’s administration raised taxes despite using tax as a campaign tool.

This lead to increase in dependency level and reduction in life expectancy, the Gramm-Rudman-Hollings were meant to relieve the com on the man of the difficulties which were thwarted by President Bush’s administration which lead to economic recession in the US by then (Gibbler, 2006, p. 42).D. how the expiration of the 1990 BEA impacted budget-related decisions during the Bush II administrationAfter the expiration of the 1990 BEA, the immense increase in deficit raised a red flag on government expenditure which led to several reforms both major and minor.

The push and pull between the Republicans and the democrats led to a balanced budget that was geared towards achieving a balanced budget that catered for both the poor and the rich in America.