The Goals and Objectives of General Revenue Sharing

Abstract

In the fall of 1972, the federal government enacted significant, landmark legislation providing for the automatic sharing of a portion of national income taxes with state and local governments throughout the country. Gen eral revenue sharing represents a very different approach to federal financial assistance. There are no applications re quired ; all units of general government automatically re ceive funds based on a known formula; and funds are utilized in accordance with local needs and priorities without the requirement of complex and expensive adminis tration at any level of government. The program is adminis tered by the Treasury Department's Office of Revenue Sharing.