Archive Report
Archive Report
Proposals for Change in Budget System
Influential members of both parties in Congress have announced that they will seek action at the 1940 session on plans to overhaul the federal budget system. Projected changes would require submission by the President of a “balanced budget,” restrict executive discretion in formulating the government's financial program, and alter legislative procedure for review of the budget.
Senator Tydings (D., Md.), a member of the Senate Appropriations Committee, gave notice December 22 that he would offer an “automatic budget-balancing law” for adoption at the next session of Congress. It would prohibit Congress from appropriating more money in any one year than the government expects to receive from all sources in that year, unless concurrent legislation is enacted to raise additional revenue ...