Formal Tax Legislation

The process by which tax legislation becomes law in the United States. As with all federal laws, formal tax legislation requires the consent of both houses of Congress and the approval of the President (or a congressional override of a presidential veto by a two-thirds vote in both houses). However, unlike other laws, tax bills must be introduced in the House of Representatives. This is because the House is supposed to represent individual citizens, rather than whole states, as with the Senate. Formal tax legislation must work its way through the House Ways and Means Committee before its approval by the House; after this, the bill goes to the Senate Finance Committee and, if approved, moves to the whole Senate.

单词	formal tax legislation
释义	Formal Tax Legislation Formal Tax Legislation The process by which tax legislation becomes law in the United States. As with all federal laws, formal tax legislation requires the consent of both houses of Congress and the approval of the President (or a congressional override of a presidential veto by a two-thirds vote in both houses). However, unlike other laws, tax bills must be introduced in the House of Representatives. This is because the House is supposed to represent individual citizens, rather than whole states, as with the Senate. Formal tax legislation must work its way through the House Ways and Means Committee before its approval by the House; after this, the bill goes to the Senate Finance Committee and, if approved, moves to the whole Senate.
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