Improving Congressional Control Over Budgetary Outlay and Receipt Totals: Interim Report, 85. sējums

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U.S. Government Printing Office, 1973 - 34 lappuses

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8. lappuse - In holding hearings pursuant to subdivision (A), the committee shall receive testimony from the Secretary of the Treasury, the Director of the Office of Management and Budget, the Chairman of the Council of Economic Advisers, and such other persons as the committee may desire.
3. lappuse - Control and directed it to study ". . . the procedures which should be adopted by the Congress for the purpose of improving congressional control of budget outlay and receipt totals, including procedures for establishing and maintaining an overall view of each year's budgetary outlays which is fully coordinated with an overall view of anticipated revenues for that year.
7. lappuse - House — the Ways and Means Committee in the House of Representatives and the Finance Committee in the Senate.
8. lappuse - Congress created the Bureau of the Budget (now the Office of Management and Budget) to review the morass of agency budgetary information and to approve agency budget requests.
6. lappuse - The fact that no legislative committee has the responsibility to decide whether or not total outlays are appropriate in view of the current situation appears to be responsible for much of the problem. Perhaps still more critical for the process is the distribution of committee jurisdictions over components of the budget among several different congressional committees.
11. lappuse - ... be carried over to the end of the fiscal year 1973, for example, are estimated in the 1973 budget at $290 billion (of which $155 billion represents Federal funds). A summary of obligated and unobligated balances as estimated for the end of fiscal year 1973 is in Appendix Table 8. Much of this total is earmarked for specific uses and is not available for new programs or discretionary use either by the executive department or by the Congress. Of the $290 billion of yearend balances, $108 billion...
18. lappuse - ... accounts for which the revenue is earmarked. All trust fund payments are made from the specific trust funds accounts. Trust funds surplus receipts are invested in Federal securities (public debt or Federal agencies obligations). At the end of fiscal year 1971 the trust funds owned $96,000,000,000 of public debt securities.
3. lappuse - However, if Congress is to effectively maintain and carry out its Constitutional power over the purse, it is evident that it must establish an effective permanent mechanism for budget control which will assure a more comprehensive and coordinated review of budget totals and determination of spending priorities and spending goals, together with a determination of the appropriate associated revenue and debt levels.
18. lappuse - The unified budget concept includes both Federal funds and trust funds for receipts and outlays. Federal funds correspond roughly to the old administrative concept used by the Federal Government prior to fiscal year 1969.
18. lappuse - I ncome taxes (individuals and corporations), most excise taxes, estate and gift taxes, customs duties, and miscellaneous receipts are paid into the Federal funds accounts from which all Federal funds expenditures are piad. All trust funds receipts are paid into the specific trust fund accounts for which the revenue is earmarked. All trust fund payments are made from the specific trust funds accounts Trust funds surplus receipts are invested in Federal securities (public debt or Federal agencies...