Budget and Accounting Act of 1921

This is a Non Profit Project. We don't collect personal data and we don't use cookies.


Budget and Accounting Act of 1921

Budget and Accounting Act of 1921 in the Federal Budget Process

Meaning of Budget and Accounting Act of 1921 in the congressional and executive budget processes (GAO source): Enhanced budgetary efficiency and aided in the performance of constitutional checks and balances through the budget process. It required the President to submit a national budget each year and restricted the authority of the agencies to present their own proposals. (See 31 U.S.C. §§ 1104, 1105.) With this centralization of authority for the formulation of the executive branch budget in the President and the newly established Bureau of the Budget (now the Office of Management and Budget (OMB)), Congress also took steps to strengthen its oversight of fiscal matters by establishing the General Accounting Office, renamed the Government Accountability Office (GAO) in 2004.


See Also

Further Reading

  • Legislatures and the budget process: the myth of fiscal control

    (J Wehner, 2010)

  • Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
  • Fiscal institutions and fiscal performance

    (JM Poterba, J von Hagen, 2008)

Leave a Comment