information and analysis it needs to work on an equal footing with the executive branch.
²Senator Edmund Muskie, June 21, 1974The law established- procedures for controlling presidential impoundments of funds- formal process through which the Congress could develop, coordinate, and enforce its own budgetary priorities- the House and Senate Budget Committees to oversee execution of the budget process- the Congressional Budget Office to provide the budget committees and the Congress with anindependent, nonpartisan source of informationIII. The Role of the Congressional Budget OfficeCBO¶s chief responsibility is to help the budget committees with the Congressional budget resolutionand its enforcement.The budget resolution sets- total levels of spending- total levels of revenues- broad spending prioritiesThe budget resolution is a concurrent resolution- approved by the House and Senate- not signed by the President- does not have the force of law- provides no taxing or spending authorityIt is more like a ³blueprint´ to guide Congressional action on spending and revenue legislationwithin the jurisdiction of other committees.
Other duties of the CBO are
:1. It provides budgetary information for Congress.- the Appropriations, Ways and Means, and Finance Committees- other Congressional committees- individual members of Congress2. It must issue annual reports.- helps Congress identify authorizing legislation that should be in place before it considers the 12regular appropriation bills3. It must identify federal mandates contained in legislation and to estimate the cost that they wouldimpose.4. It must produce reports at Congressional request that analyze specific policy and program issues thatare significant for the budget.