The OMB is an executive branch agency responsible for assisting the President in creating the federal budget, overseeing its implementation, and evaluating agency performance. It also helps develop policies and regulations.
Related terms
Federal Budget: The comprehensive plan for how much money the government will spend on various programs and services in a fiscal year.
Executive Branch: Refers to one of three branches of government, headed by the President, responsible for enforcing laws.
Regulations: Rules created by government agencies to implement laws passed by Congress.
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