Budget and control act : The Impoundment Control Act 1974 is a U.S - TopicsExpress

Budget and control act : The Impoundment Control Act 1974 is a U.S federal statute. The Act provides for the budget procedures to be followed in the U.S. The Act sets the procedures by which Congress annually adopts a budget resolution concurrent resolution setting forth fiscal policy that is not signed by the president.T he Act is officially known as the Congressional Budget and Impoundment Control Act. The Act aims: 1. to assure effective congressional control over the budgetary process; 2. to provide for the congressional determination of the federal revenues and expenditures; 3. to provide a system of impoundment control; 4. to establish national budget priorities; and 5. to provide for the furnishing of information by the executive branch in a manner that will assist the Congress in discharging its duties.The Act established the Congressional Budget Office.

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