False. It is in the House.
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The bills proposed to raise money for the federal government are called revenue bills. Revenue bills must pass through both houses, but originate in the House of Representatives.
All revenue, tax, and "money bills" originate in the House of Representatives
All laws that deal with money must originate from Congress. This is the group responsible for raising money for the federal government mainly through taxes.
All bills relating to raising money (taxes), and the budget, must originate in the House of Representatives.
Only Congress has "the power of the purse." Specifically, any appropriations bills must originate in the House of Representatives (not the Senate). Once an appropriation has been passed by both the House and the Senate, and signed into law by the President, then the President has broad authority to control how the appropriation is *spent*, but only Congress (starting with the House) can set aside the money in the first place.