GAO's Views on Export-Import Bank Being an Off-Budget Agency
ID-77-4: Published: Dec 17, 1976. Publicly Released: Dec 17, 1976.
- Full Report:
A return of the Export-Import Bank to its status as an off-budget agency is not necessarily a good idea.
For many years GAO has favored the principle of full disclosure to the Congress of budgetary programs submitted by the Executive Branch. It is impossible to differentiate between the Export-Import Bank's program and other loan programs in the budget. Excluding the Export-Import Bank's receipts and disbursements from the budget totals is undesirable and could set a precedent for other loan programs. The conclusion reached by the President's Commission on Budget Concepts of October 1967 that all loan programs operated by Federal entities in which the capital stock is owned by the Government should be included in the budget is valid.
Matter for Congressional Consideration
Comments: Please call 202/512-6100 for additional information.
Matter: It is very important to maintain the integrity of the unified budget as recommended by the President's Commission on Budget Concepts. If Congress is to exercise control over Federal expenditures through the budget, programs such as those of the Export-Import Bank should not be excluded.