“ The functions vested in the President by Section 306 (b) (1) of the Foreign Assistance Act of 1961, as amended (22 U.S.C. 2226 (b) (1) ) , are delegated to the Secretary of State.
Sec. 2. The Director of the Office of Management and Budget shall furnish to the Secretary of State those reports which the Director receives from agencies pursuant to the provisions of Section 306 (b) (2) of the Foreign Assistance Act of 1961, as amended (22 U.S.C. 2226 (b) (2) ) . ”