AP Gov Ch 14 Study Guide

Sources of federal revenue

Income taxes

-          Individual

-          Corporate

Payroll taxes

Progressive taxation

Tax expenditures

Types of federal expenditures

Mandatory spending

Discretionary spending

Destinations of federal expenditures

Deficit

Surplus

Sixteenth Amendment

Pollock v. Farmer’s Loan and Trust Co. (1895)

Office of Management and Budget

Congressional Budget Office

History of federal taxes and expenses

Incrementalism

Role of executive branch in budget process

Role of legislative branch in budget process

Calendar of budget process

Budget reconciliation

Continuing resolution

Authorization bill

Appropriations bill

Gramm-Rudman-Hollings Act