What was the financial power of Congress under the Articles of Confederation? A. It could increase its share of states' revenue. B. It could levy taxes to raise funds. C. It could only request states for funds. D. It could fix the allocation of funds to states.
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Article I, Section 8 gives Congress the power to "lay and collect taxes, duties, imports, and excises." The Constitution allows Congress to tax in order to "provide for the common defense and general welfare."
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C. It could only request states for funds.
The Congress did not have any powers of raising the tax.
It had to request money from all the states at all times.
The states usually failed to meet the demands.
As a result, the Continental Army and the Congress were woefully short of money at almost all times.
Later, they started printing more money but as more money got into circulation, the dollar's value depreciated.
The Congress did not even have the power to regulate interstate commerce or the foreign trade.
Due to this, all states maintained their own control over trade policies.
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