Final answer:
Taxes to be raised during a budget period are listed in a fiscal year budget. This budget period corresponds with the fiscal year used by governments for budgeting, which is subject to change based on policy decisions and unforeseen events.
Step-by-step explanation:
Taxes to be raised pursuant to law during a budget period are set forth in a fiscal year budget. A budget period typically refers to a fiscal year, which is the period used by governments for accounting and budget purposes. It often ranges from October 1 to September 30 of the following year for the federal government, and can vary for state and local governments.
All levels of government—federal, state, and local—have budgets that anticipate how much revenue they expect to receive from taxes and other sources. These budgets also outline how the government plans to spend these revenues. However, these budget plans can see significant shifts due to policy decisions or unexpected events, affecting tax and spending projections within the budget. Notably, the President's proposed budget serves as an initial statement of policy goals and priorities, but the actual federal budget process can be complex and contentious as it moves through Congress.