Political Significance
Because of its wide jurisdiction, Ways and Means has always been one of the most important committees with respect to impact on policy. Although it lacks the prospects for re-election help that comes with the Appropriations Committee, it is seen as a valuable post for two reasons. First, since its range is so broad, members with a wide array of policy concerns often seek positions, simply to be able to influence policy decisions. Some recent major issues that have gone through this committee include welfare reform, a Medicare prescription drug benefit, Social Security reform, George W. Bush's tax cuts, and trade agreements including the North American Free Trade Agreement (NAFTA) and the Central America Free Trade Agreement (CAFTA). Second, given the wide array of interests that are affected by the committee, a seat makes it very easy to collect campaign contributions.
Until 1974, the Ways and Means Committee decided which chairmanships newly elected members of Congress would have, along with its regular financial duties. When Ways and Means chair Wilbur Mills' career ended in scandal, Congressman Phillip Burton transferred the committee's selection powers to a separate, newly created committee.
Read more about this topic: United States House Committee On Ways And Means
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