Congress
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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. |
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Investopedia explains 'Congress'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. |
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