Which branch of government holds the "power of the purse"?

The branch of government that holds the "power of the purse" is the Legislative branch. This term refers to the authority of legislative bodies, such as Congress at the federal level, to control government spending and taxation. The Constitution grants Congress the exclusive power to levy taxes and allocate funds for government operations, which is essential for developing budgets and approving expenditures for various federal programs and initiatives.

This power is critical in establishing checks and balances within the government, as it allows the Legislative branch to influence policy decisions by controlling fiscal resources. It underscores the role of the Legislature in representing the public's interests regarding government finances and ensures accountability in how taxpayer money is utilized.

Other branches, such as the Executive and Judicial, do not possess this power, as their functions are primarily focused on enforcement of laws and interpretation of laws, respectively. The local government might have its own budgeting processes, but it does not hold the same scope or authority as the Legislative branch at state or federal levels.