Congress

AAA

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.

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.

RELATED TERMS
  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 ...
RELATED FAQS
  1. What kinds of financial instruments are designated as “Securities” by Cabinet Order?

    In Japan, securities are regulated by the Diet and the Financial Services Agency, or FSA. Rulings about securities come down ... Read Full Answer >>
  2. How is money supply used in monetary policy?

    Regulating the money supply is the sole tool of the Federal Reserve's monetary policy. The Federal Reserve can affect the ... Read Full Answer >>
  3. How can a nation adopt an export policy based on the economies of scope?

    A nation as a whole can adopt an export policy based on the economies of scope by focusing production on goods and services ... Read Full Answer >>
  4. What's the difference between short-term investments and marketable securities?

    The chief difference between federal and state withholding taxes is that state withholding is done based on state-level tax ... Read Full Answer >>
  5. What are some examples of different corporate governance systems across the world?

    Different corporate governance models have become increasingly scrutinized and analyzed as globalization takes hold in world ... Read Full Answer >>
  6. How can I find out the Medicare sustainable growth rate?

    Per the Social Security Act, the Medicare Payment Advisory Commission is required to make an estimate of the sustainable ... Read Full Answer >>
Related Articles
  1. Insurance

    The Government And Risk: A Love-Hate Relationship

    Though the U.S. government can help its citizens by subsidizing risky loans, the costs always come back to the taxpayers.
  2. Economics

    What Is Fiscal Policy?

    Learn how governments adjust taxes and spending to moderate the economy.
  3. Economics

    How Education And Training Affect The Economy

    Education and training benefit not only the worker, but also the employer and the country as a whole.
  4. Retirement

    Is The U.S. Government Too Big To Fail?

    Some think that the U.S. government is too big to fail, but one must only look at historical examples to know that it's not true.
  5. Insurance

    Free Markets: What's The Cost?

    Some argue that when the free market fails to protect consumers, government regulation is required.
  6. Taxes

    Explaining Progressive Tax

    A progressive tax is a levy in a tax system where the tax rate increases as the taxable base increases.
  7. Economics

    Chinese Opportunities For A Changing Child Policy

    China's one-child policy is changing, and investors are looking for ways to cash in. The reform might not have the effects that many anticipate, however.
  8. Taxes

    Tea Party Vs. Republican Party: Who Will Win In 2016?

    What agendas define the rift between the Tea Party and the Republican establishment, and which side will win the presidential nomination in 2016?
  9. Taxes

    Understanding Income Tax

    Income tax is a levy many governments place on revenue of entities within their jurisdiction.
  10. Economics

    What's a Regressive Tax?

    A regressive tax is a levy in a tax system where the tax rate does not change based on the level of income.

You May Also Like

Hot Definitions
  1. Moving Average - MA

    A widely used indicator in technical analysis that helps smooth out price action by filtering out the “noise” from random ...
  2. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  3. Productivity

    An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in ...
  4. Variance

    The spread between numbers in a data set, measuring Variance is calculated by taking the differences between each number ...
  5. Terminal Value - TV

    The value of a bond at maturity, or of an asset at a specified, future valuation date, taking into account factors such as ...
  6. Rule Of 70

    A way to estimate the number of years it takes for a certain variable to double. The rule of 70 states that in order to estimate ...
Trading Center