OVERVIEW The Senate Committee on the Budget was established in 1974 by the Congressional Budget and Impoundment Control Act. Along with the House Budget Committee, it is responsible for drafting Congress' annual budget plan and monitoring action on the budget for the Federal Government. In addition, the Budget Committee has jurisdiction over the operation of the Congressional Budget Office (CBO). The Committee is currently chaired by Senator Judd Gregg (R - New Hampshire). Senator Kent Conrad (D - North Dakota) serves as Ranking Member. The Budget Committee is often confused with the Finance Committee and the Appropriations Committee, both of which have different jurisdictions. The Finance Committee (like the Ways and Means Committee in the House of Representatives) has legislative jurisdication in the areas of taxes, Social Security, Medicare, Medicaid and some other entitlements. The Appropriations Committee has legislative jurisdiction over appropriations bills, which provide funding for government programs. While the budget resolution prepared by the Budget Committee sets out a broad blueprint for the Congress with respect to the total levels of revenues and spending for the government as a whole, these other Committees prepare the legislation that actually enacts specific tax and spending policies. Download The Congressional Budget Process: An Explanation in PDF format to find out more about the Committee and the Budget Process.	Overview  Budget Timetable  Committee Members       Democrats       Republicans  Committee History  Jurisdiction  Committee Rules  Glossary of Budget Terms