Ways and means committee

The term "ways and means" originated with the Parliament of England and refers to the provision of revenue to meet national expenditure requirements and to implement the objectives of economic policy.

For example, the Minister of Finance introduces changes to its fiscal plan via a Ways and Means Motion to Amend the Income Tax Act 1985.

Only after a federal budget is tabled may the government's detailed taxation plans be made public.

The Committee of Ways and Means was abolished in 1967 and the responsibility for all fiscal matters, including taxation, now rests with the Chancellor of the Exchequer.

Unlike its UK counterpart, the US committee still meets and has jurisdiction over all taxation, tariffs, and other revenue-raising measures, as well as Social Security, Medicare, and a number of other programs.