Which of these statements about the OMB is true?

The statement about the Office of Management and Budget (OMB) that is true is that it prepares the federal budget. The OMB is an essential agency within the Executive Office of the President, primarily responsible for overseeing the preparation of the federal budget and ensuring that budgetary priorities align with the administration’s policy goals. It conducts analyses of agency budgets, oversees the implementation of the budget, and monitors spending across federal agencies to ensure funds are used efficiently and in accordance with federal law.

Other responsibilities of the OMB include reviewing proposals from federal agencies that involve significant budgetary implications and helping to coordinate the administration's financial priorities. The comprehensive role it plays in budget preparation makes it a critical component of the federal government's financial management process. The responsibilities of managing the IRS, enforcing environmental laws, and conducting foreign policy fall under different agencies and are not within the mandate of the OMB.