The Economy Act of 1933, officially titled the Act of March 20, 1933 (ch. 3, Pub. L. 73–2, 48 Stat. 8, enacted March 20, 1933, is an Act of Congress that cut the salaries of federal workers and reduced benefit payments to veterans, moves intended to reduce the federal deficit in the United States.[1]
The Economy Act of 1933 is sometimes confused with the Economy Act of 1932, which was signed in the final days of the Hoover administration in February 1933.[2] This Hoover-sponsored bill established the purchasing authority of the federal government.[3] Title VI of this earlier act authorized heads of executive departments, establishments, bureaus, and offices to place orders with any other such Federal agency unless the requisitioned goods or services could be acquired as conveniently or more cheaply from the private sector. Though amended several times, this provision—commonly referred to simply as the Economy Act—remains in force as of 2019 (31 U.S.C. § 1535).
- ^ Olson, James Stuart. Historical Dictionary of the Great Depression, 1929-1940. Santa Barbara, calif.: Greenwood Publishing Group, 2001. ISBN 0-313-30618-4
- ^ Lee, Mordecai. Institutionalizing Congress and the Presidency: The U.S. Bureau of Efficiency, 1916-1933. College Station, Tex.: Texas A&M University Press, 2006. ISBN 1-58544-548-7
- ^ Tomanelli, Steven N. Appropriations Law: Principles and Practice. Vienna, Va.: Management Concepts, 2003. ISBN 1-56726-121-3
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