Office of Management and Budget

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Office of Management and Budget
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Basic facts
Location:Washington, D.C.
Top official:Russell Vought
Year founded:1970
Website:Official website

The Office of Management and Budget (OMB) is a United States executive agency formed in 1970 to, according to its mission statement on its website, "serve the President of the United States in implementing his vision across the Executive Branch." The OMB reports directly to the president and is the largest element of the Executive Office of the President. Among its chief responsibilities are managing the development and execution of the annual federal budget, overseeing federal agencies and executive branch operations, and coordinating and reviewing agency regulations.[1]

Russell Vought is the director of the OMB. Click here to read more about his confirmation process.

Mission

The official OMB website gives the following description of the agency's purpose:[2]

“ OMB’s mission is to assist the President in meeting policy, budget, management, and regulatory objectives and to fulfill the agency’s statutory responsibilities.[3] ”

Background

The present Office of Management and Budget was organized in 1970 under President Richard Nixon. Its predecessor, the Bureau of the Budget, was established in 1921 as an agency of the Treasury Department. In 1939, control of the Bureau of the Budget was transferred from the treasury to the Executive Office of the President. The organization's responsibilities were expanded during the 1990s to include management as well as budgetary roles.[4][5]

Former directors of the OMB who later held higher offices in the federal government include George Shultz (Secretary of State), Caspar Weinberger (Secretary of Defense), Jack Lew (Secretary of the Treasury) and Leon Panetta (Secretary of Defense).[5]

Work

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In addition to assisting the president in developing and implementing the annual federal budget, the OMB oversees executive agency performance, federal procurement, financial management, and information policy, reviews significant regulations issued by executive agencies, coordinates agency communications with Congress, and assists the president with executive orders and presidential memoranda.[1]


Regulatory review process

See also: Office of Information and Regulatory Affairs

According to its website, the OMB is responsible for reviewing and coordinating what are deemed "all significant federal regulations by executive agencies," including new and preexisting rules. This responsibility, carried out by the OMB Office of Information and Regulatory Affairs (OIRA), was assigned by President Bill Clinton in a 1993 executive order, E.O. 12866. The office reviews both draft proposals and finalized regulations; this review process includes an examination of the rulemaking agency's analysis of the costs and benefits of its rule. OIRA also attempts to ensure that executive agency policies reflect the priorities of the president.[1]

Leadership

Russell Vought was confirmed to serve as OMB director on February 6, 2025.

A list of past OMB directors can be viewed below:[5]

Note: Votes marked "N/A" represent voice votes or unrecorded votes. Missing votes will be filled as they are researched.

Executive Office of the President

See also: Executive Office of the President

The Executive Office of the President (EOP) is a group of federal entities responsible for advising and supporting the president's policy agenda and administration. The EOP's composition has changed over time as different presidential administrations have added, transferred, and removed entities from the office.

Under the Biden administration, the EOP included the following 11 offices:

See also

External links

Footnotes

  1. ↑ 1.0 1.1 1.2 Office of Management and Budget, "The Mission and Structure of the Office of Management and Budget," archived December 19, 2016
  2. ↑ The White House, "Office of Management and Budget," accessed February 26, 2024
  3. ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
  4. ↑ Office of Management and Budget, "Fiscal Year 2017 Budget," archived November 10, 2016
  5. ↑ 5.0 5.1 5.2 AllGov, "Office of Management and Budget, accessed July 13, 2017
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