The President shall annually transmit to the Congress not later than 10 days after the submission of the budget under section
1105
(a) of title
31, with copies transmitted to the Governor of each State and to other appropriate State and local officials, an economic report (hereinafter in this chapter referred to as the “Economic Report”) together with the annual report of the Council of Economic Advisers submitted in accord with section
1023
(c) of this title, setting forth—