PILT (Payments in Lieu of Taxes): Somewhat Simplified

The federal budget is central to Congress's ability to exercise its "power of the purse." Each fiscal year Congress and the President undertake a variety of steps intended to set levels of spending and revenue and to make policy decisions. The purpose of this report is to provide an overview and background on the current budget debate. This report will track legislative events related to the federal budget and will be updated as budgetary legislation moves through Congress.