The Budget and Impoundment Control Act of 1974

Question

Quizplus · Accepted Answer

The Budget and Impoundment Control Act of 1974 established a schedule for enacting taxing and spending legislation. This schedule set specific deadlines for Congress to pass budget and appropriations bills, which helped to streamline the budgetary process and ensure that spending decisions were made in a timely manner. The Act did not require tax bills to originate in the Senate, require authorization bills to originate in the Senate, nor did it expand the president's authority to impound funds or sync the fiscal year with the calendar year.