Role of the President in Budget Process

In the context of the federal budgetary process in the United States, various key players and stages are critical to understanding how budgetary decisions are made. The Constitution grants Congress the power of the purse, which includes the ability to authorize spending and taxation. However, the budgetary process involves not only Congress but also the President and various government departments. The following question examines the implications of the budget process, particularly focusing on the steps and people involved in formulating the budget.

Which of the following statements accurately reflects the role of the President in the budget process?