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Office of Management and Budget (OMB): A Brief Overview The Office of Management and Budget (OMB) is located within the Executive Office of the President (EOP). As a staff agency to the President, OMB acts on the President’s behalf in preparing the President’s annual budget proposal, overseeing the executive branch, and helping steer the President’s policy actions and agenda. In doing so, OMB interacts extensively with Congress in ways that are both visible and hidden from view. This report provides a concise overview of OMB and its major functions, and highlights a number of issues influenced by OMB in matters of policy, budget, management, and OMB’s internal operations.