Is The Bailout Bill Illegal?

[Lee]

I was wondering, since this bill was introduced and created by the Senate, is it actually 'legal'?

I was always under the impression that bills were supposed to be created by the House, then sent to the Senate, not the other way around?

Anyone know where this type of info could be found?

Regards,

Lee

[chadknowslaw]

Tricky question! Spending bills are supposed to be originated in the House and all other bills can originate in either chamber. I think this bill was not a "Spending" bill but rather authorized the Treasury to buy and sell securities and other assets which is not "spending" but expanding the authority of the Treasury. It is a stretch, especially because of the dollars involved but I don't think it could have passed if it was constitutionally unstable.
I believe the Iraq war authorization was over the Constitutional line as it transferred the power to declare war to the President, which in the Constitution is reserved only to Congress.

[chadknowslaw]

Checking the language of the Constitution, I find that the House is the only chamber where bills to raise revenue can be generated.

Section. 7.

All Bills for raising Revenue shall originate in the House of Representatives