DEFINITION of 'Congress'

The legislative branch of the United States government. It is responsible for making laws and helps to balance out the power of the executive and judicial branches of government. Congress has enumerated powers established by the U.S. Constitution, including laying and collecting taxes, borrowing money, regulating commerce and declaring war.


Congress consists of the Senate and the House of Representatives. Each state elects a number of representatives in proportion to that state's population. The representatives serve two-year terms. Each state also elects two senators, who serve six-year terms.

The political power in Congress impacts the financial world directly. For this reason, almost every large industry has many lobbyists in Washington pushing their agendas.

  1. Stop Trading On Congressional Knowledge ...

    A bipartisan bill signed into law Apr. 4, 2012 by President Barack ...
  2. Senate Bill

    A piece of proposed legislation that either originated or was ...
  3. Bill Presentment

    The submission of a bill of exchange for payment. A bill, such ...
  4. Sixteenth Amendment

    The amendment within the Constitution that gives Congress the ...
  5. Congressional Oversight Panel - ...

    A panel created by the U.S. Congress in 2008 to oversee for the ...
  6. Legislative Overkill

    A law enacted to stop or prevent the abuse of a loophole, but ...
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