Search results
Results from the WOW.Com Content Network
The Origination Clause, sometimes called the Revenue Clause, [1] [2] is Article I, Section 7, Clause 1 of the U.S. Constitution.The clause says that all bills for raising revenue must start in the U.S. House of Representatives, but the U.S. Senate may propose or concur with amendments, as in the case of other bills.
The Constitution provides in the Origination Clause that all bills for raising revenue must originate in the House of Representatives. The idea underlying the clause is that Representatives, being the most numerous branch of Congress, and most closely associated with the people, know best the economic conditions of the people they represent ...
The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.
Underwood quickly shepherded the revenue bill through the House of Representatives, but the bill won approval in the United States Senate only after extensive lobbying by the Wilson administration. Wilson signed the bill into law on October 3, 1913. The Revenue Act of 1913 lowered average tariff rates from 40 percent to 26 percent.
Today's telephone excise tax derives from the Revenue Bill of 1932. Since then, it has been reauthorized 29 times. The 1932 Act was passed in response to a federal budget deficit brought about because of a decline in income tax receipts caused by an economic depression rather than as a result of war. Initially the tax was levied only on ...
The Origination Clause of the United States Constitution (Article I, Section 7, Clause 1) provides that the House of Representatives has exclusive authority to introduce bills raising revenue: "All bills for raising Revenue shall originate in the House of Representatives." As such, the House considers itself to be the only proper venue to ...
Congress is supposed to pass 12 annual appropriations bills — also known as spending or government funding bills — by October 1, the start of the new fiscal year. But this rarely happens.
The House's exclusive powers include initiating all revenue bills, impeaching federal officers, and electing the president if no candidate receives a majority of votes in the Electoral College. [3] [4] Members of the House serve a fixed term of two years, with each seat up for election before the start of the next Congress.