Credit Authority

Credit Authority: Authority to incur direct loan obligations or to incur primary loan guarantee commitments. Under the Budget Act, new credit authority must be approved in advance in an appropriation act.

[The Congressional Budget Process: An Explanation, Appendix J (Glossary), Committee on the Budget of the U.S. Senate, S. Prt. 105-67 (Revised December 1998).]

GAO Glossary of Terms and Definition (September 2005)

Credit, Credit Reform

See under Federal Credit.

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Countercyclical Policy


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