Definition
The legislature's constitutional authority to control government spending and taxation. The ultimate check on executive power, assuming Congress actually uses it instead of rubber-stamping spending requests.
Example Usage
Congress exercised its power of the purse by refusing to fund the president's border wall proposal.
Origin
English constitutional principle dating to the Magna Carta and Bill of Rights of 1689
Fun Fact
The power of the purse was considered so fundamental that Article I, Section 7 of the US Constitution requires all revenue bills to originate in the House.
Source: Constitutional law fundamentals
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