<P> In March, the CBO publishes an analysis of the President's budget proposals . The CBO budget report and other publications are also posted on the CBO website . CBO computes a current - law baseline budget projection that is intended to estimate what federal spending and revenues would be in the absence of new legislation for the current fiscal year and for the coming 10 fiscal years . However, the CBO also computes a current - policy baseline, which makes assumptions about, for instance, votes on tax cut sunset provisions . The current CBO 10 - year budget baseline projection grows from $3.7 trillion in 2011 to $5.7 trillion in 2021 . </P> <P> In March, the budget committees consider the President's budget proposals in the light of the CBO budget report, and each committee submits a budget resolution to its house by April 1 . The House and Senate each consider these budget resolutions, and are expected to pass them, possibly with amendments, by April 15 . A budget resolution is a kind of concurrent resolution; it is not a law, and therefore does not require the President's signature . </P> <P> There is no obligation for either or both houses of Congress to pass a budget resolution . There may not be a resolution every year; if none is established, the previous year's resolution remains in force . For example, the Senate has not passed a budget resolution for FY2011, FY2012, or FY2013, and passed the FY2014 budget resolution on March 23, 2013, 23 days before the April 15 deadline set by the No Budget, No Pay Act of 2013 . This was the first budget resolution passed by the Senate since a FY2010 budget passed on April 29, 2009 . The House and Senate may propose a budget independently of the President's budget . For example, for the 2014 budget process, the House prepared its budget proposal on March 21 and the Senate proposed a budget on March 23, while the President's budget was not submitted until April 10 . </P> <P> After both houses pass a budget resolution, selected Representatives and Senators negotiate a conference report to reconcile differences between the House and the Senate versions . The conference report, in order to become binding, must be approved by both the House and Senate . </P>

When was the last time us passed a budget