The principal law within the Subcommittee's purview is the Congressional Budget and Impoundment Control Act of 1974. Also, the Subcommittee enjoys jurisdiction over budget process related provisions found in Part C of the Balanced Budget and Emergency Deficit Control Act of 1985 and the Budget Enforcement Act of 1990. The Subcommittee also exercises oversight of the congressional budget process.

In previous Congresses, the subcommittee has played primary roles in the drafting and passage of the line item veto, conducted extensive oversight of the budget process resulting in numerous reform recommendations and examined the impact of executive orders on the legislative process.