Who holds the power of the purse in the federal government?

Answer 1

The so-called "power of the purse" is the ability of Congress or any other legislative body to control what the other two branches of government do by appropriating or not appropriating budget funds to the other branches. For example, the President as Commander-in-Chief of the military forces has the right to decide how those forces are used within the scope of constitutional and statutory restrictions. Under the War Powers Act, the president may deploy military forces for a short period of time without a formal declaration of war by Congress. However, even though that is within his authority, he cannot do that unless he has the funds in the military budget to do it. If Congress refuses to appropriate money for such a military purpose, Congress can effectively prevent the President from doing something he has the legal right to do.

Answer 2

The "power of the purse" is the practical as opposed to legal method by which the legislative branch checks the executive and even the judicial branches of government. Neither of those two branches can raise money or appropriate money for things they need, therefore tey are dependent on Congress. If the President wants to commit troops to fight somewhere, the President cannot do so unless Congress appropriates money to pay for the soldiers, equipment, etc. If the Supreme Court wants more members, the Chief Justice cannot add them unless Congress appropriates the money to pay for them. This power also extends to threats by Congress to the President and Judiciary to reduce appropriations for other matters (except compensation during their terms) unless they do what Congress wants. It is a powerdul tool but not absolute.

Answer 3

The ability to raise tax and spend money for the Crown (or government more generally)

Answer 4

Congress controls the money.