<P> President Warren G. Harding brought about the enactment of the Budget and Accounting Act of 1921, which, for the first time, required the President to submit a budget annually to Congress and which established the Bureau of the Budget, the forerunner of the Office of Management and Budget, to assist in the formulation of the budget . Initially the Bureau was within the U.S. Department of the Treasury, but in 1939 it was moved to the Executive Office of the President . </P> <P> The President's budget submission is referred to the House and Senate Budget Committees and to the Congressional Budget Office (CBO). Other committees with budgetary responsibilities submit requests and estimates to the budget committees during this time . </P> <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>

When is the last time the senate passed a budget