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Office of Management and Budget (OMB): An Overview The Office of Management and Budget (OMB) is a component of the Executive Office of the President (EOP). OMB is tasked with numerous statutory duties relating to the operations of executive branch agencies. As a source of support to the institutional presidency, OMB also acts on the President’s behalf in preparing the President’s annual budget proposal, overseeing executive branch agencies, and helping steer the President’s policy actions and agenda. In pursuing these activities, OMB interacts extensively with Congress and agencies in ways that are both publicly visible and more hidden from view.