Plain meaning
A federal statute setting core rules for public money, borrowing, spending, Crown corporations, and financial administration.
Also called
FAA
Key points
- The Act provides part of the legal framework for managing federal public money.
- It deals with appropriations, accounts, Crown corporations, borrowing, and financial controls.
- Budget and fiscal announcements can rely on authorities or structures connected to the Act.
- It is not a tax-charging statute by itself, but it can sit behind government finance measures.
Why it comes up
The Act can matter when tax, tariff, fiscal, debt, or public-program announcements depend on federal spending authority or financial controls.