The Taxing and Spending Clause is the clause that gives the federal government of the United States is power of taxation. The component parts are known as the General Welfare Clause and the Uniformity Clause.

Fiscal policy is about taxing and spending.

The Taxing and Spending Clause grants Congress the power to levy taxes to pay debts and provide defense and welfare. This clause, found in Article 1, Section 8, Clause 1 of the U.S. Constitution, is commonly referred to as the General Welfare Clause.

The use of taxing and spending powers to shape the economy is commonly called fiscal policy. This type of policy influences macroeconomic conditions.

The federal budget.