Legislative Powers

• As stated in the first article of the Constitution, the legislative power belongs to the Senate and the House of Representatives, which together form the Congress -- the legislative branch -- of the U.S. government. The Congress has the power to enact legislation, declare war, ratify treaties, confirm or reject presidential appointments that require consent and bring charges against an official, including the president.
  
  

Steps Toward a New Law

• Any member of the Congress can introduce a bill, which will be referred to the relevant committee for review. Both the House of Representatives and the Senate have committees and subcommittees with distinct areas of responsibility. When the bill is ratified by the subcommittee first and then the full committee, it is passed to the House or Senate for approval, where it can be approved, amended or rejected outright. After approval or amendment, the bill is passed to the president who can veto it or sign it into law. A vetoed bill returns into the Congress and can become law with a two-thirds vote of each chamber.
  
  

Economic Responsibilities

• The Constitution does not mention explicitly the fact that the Congress has responsibilities that have an effect on the nation's economy. However, a series of powers regarding the issuance of money, trade and taxation testify to the duties of the Congress in the economic sphere. According to Article 1, Section 8 of the Constitution, the "Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts ... but all Duties, Imposts and Excises shall be uniform throughout the United States."
  
  

Additional Economic Responsibilities

• Congress has the power to borrow money on the credit of the United States and regulate commerce with foreign nations, among the several states, as well as with Indian tribes. Only the Congress has the power to coin money and regulate its value. It is also responsible for regulating the value of foreign coin, according to the domestic currency. Furthermore, the House of Representatives must also approve any treaty that involves foreign trade.