Identify the federal commercial and fiscal powers and give the source in the Constitution where the power is granted to the federal government. Explain what is meant by each
The commerce power is found in Article I, Section 8, of the U.S. Constitution. It grants to the federal government the exclusive power to regulate commerce with foreign countries and among the states. Article I, Section 8 also authorizes the federal government to pay debts and to spend for the common defense and general welfare of the United States. In addition, Article I, Section 8 grants Congress the power to borrow and coin money, which is the basis for the establishment of the Federal Reserve System. The Constitution grants the federal government a broad power to tax, subject to three major limitations: (a) direct taxes other than income taxes must be apportioned among the states, (b) all custom duties and excise taxes must be uniform throughout the U.S., and (c) no duties may be levied on exports from any state. The Fifth and Fourteenth Amendments give the federal government and the states the power of eminent domain.
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