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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.
Legal writers, as opposed to economic historians, incorrectly assume that the constitutional phrase "Bills of Credit" was simply a synonym for paper money, but it refers to only one, though a very important, type of paper currency. [10] The Constitution explicitly prohibits the states from issuing bills of credit and coining money.
No such committee has been established under the 1937 constitution, [9] but one was established for a 1935 bill under the 1922 Constitution of the Irish Free State, [9] [24] which contained similar provisions until the 1936 abolition of the Free State Seanad made the distinction of money bills moot since they were henceforth treated the same as ...
The United States Constitution and its amendments comprise hundreds of clauses which outline the functioning of the United States Federal Government, the political relationship between the states and the national government, and affect how the United States federal court system interprets the law. When a particular clause becomes an important ...
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 ...
Congress had also authorized paper money (e.g. Continentals) even before the Constitution was adopted. The Continental was issued by both the individual states and the Continental Congress under the Articles of Confederation. Those Articles specifically allowed the issuance of legal tender paper money, at the time called "bills of credit". [12]
He condemns the state issuance of paper money by citing the problems caused by this after the peace in 1783 (paper money issued by the states led to runaway inflation). Madison vigorously defends the outlawing of bills of attainder, ex post facto laws and laws impairing the obligations of contracts. He insists that such laws would contradict ...
After the Clerk of the House receives the bill it is then assigned a legislative number, enrolled in the House Journal and printed in the Congressional Record and the Speaker of the House refers the bill to the Committee(s) with jurisdiction by sending the bill to the office of the chairman of the committee(s), and the Clerk of the Committee ...