The House Committee on Ways and Means: A Vital Role in U.S. Fiscal Policy

Overview

The House Committee on Ways and Means is a key player in shaping the United States' fiscal policies. The committee has jurisdiction over revenue-raising measures, including taxes and tariffs, as well as social welfare programs such as Social Security and Medicare. The committee also plays a major role in the budget process and has broad oversight authority over the U.S. Treasury Department.

History

The Committee on Ways and Means was created in 1802 and is one of the oldest committees in the House of Representatives. The committee's name derives from its original responsibility for devising ways and means to raise revenue for the federal government.

Jurisdiction

The jurisdiction of the Committee on Ways and Means is extensive and includes:

• Taxes
• Tariffs
• International trade
• Social security
• Medicare
• Medicaid
• Unemployment insurance
• The budget
• The Treasury Department

Membership

The Committee on Ways and Means is composed of 39 members, 24 Democrats and 15 Republicans. The committee is chaired by a Democrat, Rep. Richard Neal of Massachusetts, and the ranking member is a Republican, Rep. Kevin Brady of Texas.

Role in Fiscal Policy

The Committee on Ways and Means plays a vital role in shaping U.S. fiscal policy. The committee's jurisdiction over revenue-raising measures gives it significant influence over the federal budget and the overall direction of the economy.

The committee also plays a major role in social welfare policy. It has jurisdiction over Social Security, Medicare, and Medicaid, which are the three largest social welfare programs in the United States. The committee's decisions on these programs have a major impact on the lives of millions of Americans.

Recent Activities

In recent years, the Committee on Ways and Means has been involved in a number of high-profile issues, including:

• The Tax Cuts and Jobs Act of 2017
• The Affordable Care Act
• The Budget Control Act of 2011

Conclusion

The House Committee on Ways and Means is a powerful and influential committee that plays a central role in U.S. fiscal policy. The committee's jurisdiction over revenue-raising measures, social welfare programs, and the budget gives it significant power to shape the future of the United States.

Sources:

• [House Committee on Ways and Means website](https://waysandmeans.house.gov/)
• [Committee on Ways and Means: Jurisdiction](https://waysandmeans.house.gov/legislative-activity/jurisdiction)
• [Committee on Ways and Means: Members](https://waysandmeans.house.gov/members)