Who formulates fiscal policy in the United States?

Question

Quizplus · Accepted Answer

Fiscal policy in the United States is formulated by Congress and the president. Congress determines the federal budget, including the allocation of funds for government programs and services, while the president proposes a budget to Congress and has the power to veto legislation that would prevent him or her from implementing his or her policy preferences. Together, they make decisions regarding taxation, spending, and borrowing policies in order to achieve various economic goals. The other options – The Federal Reserve, The president and the Council of Economic Advisers, The secretary of the Treasury and Congress, and The director of the Office of Management and Budget and the secretary of state – all play important roles in the economic policymaking process, but they are not primarily responsible for formulating fiscal policy in the United States.

Who Formulates Fiscal Policy in the United States