Washington: 62nd Congress, 2nd session. House Document #854. 1912. 568 pages. 9 1/4 x 6 inches. Beige cloth with colored spine labels; covers soiled. Item #3110
In 1910 President Taft initiated the Commission on Economy and Efficiency (often referred to as the Taft Commission). The Commission’s report, focused national attention on budgeting and sound fiscal management. "It argued that the President should prepare and present budgets to Congress, the budget message should accompany policy proposals and include summary financial information, the Secretary of Treasury should present a consolidated financial report to congress, agencies should present an annual financial report to congress and that agencies should establish and maintain a comprehensive accounting system. Congress did not agree with a budget process centered on the executive and rejected the Taft Commission's recommendations". - Miranda. THE FEDERAL BUDGET: POLITICS, POLICY PROGRESS.