What significant act gave the president more power over budgeting and accounting in the early 20th century?

The Budget and Accounting Act of 1921 marked a pivotal moment in reshaping the president's role in the federal budgeting process. This act was significant because it established a more structured system of budget preparation and control, allowing the president to submit a comprehensive budget proposal to Congress. Before this act, the budgeting process was less centralized and often chaotic, with multiple agencies overseeing their own financial matters independently.

With the enactment of this law, the President gained increased authority in financial planning and oversight, leading to a more coordinated approach to fiscal policy. Additionally, the act established the Bureau of the Budget (now known as the Office of Management and Budget), which provided the president with a dedicated staff to assist in budget formulation and execution, further enhancing executive power over federal expenditures and accounting.

The other options pertain to different aspects of governance. The Revenue Act primarily deals with taxation, while the Insurrection Act relates to military authority in times of domestic unrest, and the War Powers Resolution addresses congressional oversight of military actions. None of these measures specifically target the budgeting and accounting powers of the presidency as directly and effectively as the Budget and Accounting Act of 1921.