The Budget and Accounting Act of 1921

The Budget and Accounting Act of 1921 was a law that reorganized how the U.S. government manages its finances. It created the position of the President’s Budget Director and required the President to submit a comprehensive budget proposal to Congress each year. The law also established the General Accounting Office to oversee government spending and ensure funds are used properly. Overall, it aimed to improve transparency, control spending, and make government budgeting more organized and accountable for the American people.