Final answer:
False. The budget does not need to be passed by a majority of those present and voting in both chambers of the legislature.
Step-by-step explanation:
The statement that the budget must be passed by a majority of those present and voting in both chambers of the legislature is False. In the United States, the budget process begins with the President submitting a budget proposal to Congress.
The budget must be passed by both the House of Representatives and the Senate, but it does not require a majority of those present and voting in both chambers. Instead, the budget must be passed by a simple majority of those present and voting in each chamber.