Finance Committee Law and Legal Definition

Finance committee refers to a committee of the U.S. Senate concerned with matters relating to taxation and other revenue measures. The committee is also concerned with:

1. insular possession;

2. bonded debt of the U.S.;

3. customs, collection districts, and ports of entry and delivery;

4. deposit of public moneys; and

5. general revenue sharing.

The committee is also having jurisdiction over the Medicare and Medicaid in the U.S.