Number: 98-512 Title: Formulation and Content of the Budget Resolution Authors: William Heniff, Jr., Government and Finance Division Abstract: budget plan for the upcoming fiscal year and at least the following four fiscal years. As a concurrent resolution, it is not sent to the President for his signature and thus does not become law. The budget resolution, however, provides the framework for subsequent legislative action on the annual appropriations bills, revenue measures, debtlimit legislation, reconciliation legislation (if required), and any other budgetary legislation. Consequently, the President may be drawn into negotiations with Congress on the budget resolution. Pages: 2 Date: May 1, 2007