Term Limits Are a Type of Reform That

question 91

Multiple Choice

Term limits are a type of reform that:

• A) restricts the number of times House members can run for reelection.
• B) defines the terms of raising money for election campaigns.
• C) determines how long a legislator can hold a leadership position in Congress.
• D) determines how long a legislator can serve on a particular committee.
• E) would change Senate terms from six years to four years.

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Definitions:

Federal Reserve System

The central banking system of the United States, responsible for monetary policy, regulating banks, maintaining financial stability, and providing financial services to depository institutions, the U.S. government, and foreign official institutions.

Money In Circulation

The total amount of physical currency and coin that is in the general public's hands and the vaults of financial institutions.

Tax Loopholes

Provisions or gaps in tax legislation that allow individuals and corporations to legally reduce their tax liabilities through various means not fully intended by the lawmakers.

Taxable Income

The portion of an individual or entity's income used as the basis for calculating the amount of tax they owe to the government, after allowed deductions and exemptions.