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Final answer:
The 'power of the purse' refers to Congress's authority over taxation, spending, and financial control, enabling it to shape government policies and programs.
Explanation:
The power of the purse refers to Congress's authority to levy, collect, and appropriate taxes, as well as authorize federal expenditures, setting the basis for government spending and financial control.
This power enables Congress to influence fiscal policy and act as a check on the executive branch, ensuring that funds are allocated in alignment with legislative priorities.
Through taxation and budgetary control, Congress wields significant influence over the nation's financial operations, shaping the direction of government activities and programs.
Learn more about Congress's authority over financial matters here:
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