An Act To provide a national budget system and an independent audit of Government accounts, and for other purposes.
SEC. 20I. The President shall transmit to Congress on the first day of each regular session, the Budget, which shall set forth in summary and in detail:
(a) Estimates of the expenditures and appropriations necessary in his judgment for the support of the Government for the ensuing fiscal year; except that the estimates for such year for the Legislative Branch of the Government and the Supreme Court of the United States shall be transmitted to the President on or before October I5th of each year, and shall he included by him in the Budget without revision;
(b) His estimates of the receipts of the Government during the ensuing fiscal year, under (I) laws existing at the time the Budget is transmitted and also (2) under the revenue proposals, if any, contained in the Budget;
(c) The expenditures and receipts of the Government during the last completed fiscal year;
(d) Estimates of the expenditures and receipts of the Government during the fiscal year in progress;
(e) The amount of annual, permanent, or other appropriations, including balances of appropriations for prior fiscal years, available for expenditure during the fiscal year in progress;
(f) Balanced statements of (I) the condition of the Treasury at the end of the last completed fiscal year, (2) the estimated condition of the Treasury at the end of the fiscal year in progress, and (3) the estimated condition of the Treasury at the end of the ensuing fiscal year if the financial proposals contained in the Budget are adopted;
(g) All essential facts regarding the bonded and other indebtedness of the Government; and
(h) Such other financial statements and data as in his opinion are necessary or desirable in order to make known in all practicable detail the financial condition of the Government.
SEC. 202. (a) If the estimated receipts for the ensuing fiscal year contained in the Budget, on the basis of laws existing at the time the Budget is transmitted, plus the estimated amounts in the Treasury at the close of the fiscal year in progress, available for expenditure in the ensuing fiscal year, are less than the estimated expenditures for the ensuing fiscal year contained in the Budget, the President in the Budget shall make recommendations to Congress for new taxes, loans, or other appropriate action to meet the estimated deficiency.
(b) If the aggregate of such estimated receipts and such estimated amounts in the Treasury is greater than such estimated expenditures for the ensuing fiscal year, he shall make such recommendations as in his opinion the public interests require.
SEC. 203. [Supplementary or deficiency estimates to meet necessary expenses may also be transmitted.]
SEC. 206. No estimate or request for an appropriation and no request for an increase in an item of any such estimate or request, and no recommendation as to how the revenue needs of the Government should be met, shall be submitted to Congress or any committee thereof by any officer or employee of any department or establishment, unless at the request of either House of Congress.
SEC. 207. There is hereby created in the Treasury Department a Bureau to be known as the Bureau of the Budget. There shall be in the Bureau a Director and an Assistant Director. . . . The Bureau, under such rules and regulations as the President may prescribe, shall prepare for him the Budget, the alternative Budget, and any supplemental or deficiency estimates, and to this end shall have authority to assemble, correlate, revise, reduce, or increase the estimates of the several departments or establishments.
SEC. 209. The Bureau, when directed by the President, shall make a detailed study of the departments and establishments for the purpose of enabling the President to determine what changes (with a view of securing greater economy and efficiency in the conduct of the public service) should be made in (I) the existing organization, activities, and methods of business of such departments or establishments, (2) the appropriations therefor, (3) the assignment of particular activities to. particular services, or (4) the regrouping of services. The results of such study shall be embodied in a report or reports to the President, who may transmit to Congress such report or reports or any part thereof with his recommendations on the matters covered thereby.
[Title III of the act provides for the creation of a General Accounting Office under a Comptroller General of the United States, the latter to be appointed by the President, with the advice and consent of the Senate, for fifteen years, and to be removable for cause either by joint resolution of Congress or by impeachment. The offices of Comptroller and Assistant Comptroller of the Treasury, and of the six auditors, are abolished as of July I, I92I. The organization, duties, etc., of the General Accounting Office are prescribed.]
Approved. June I0. I92I.