This Article undertakes to demonstrate, however, that Congress' power to spend does not derive from that so-called "General Welfare" Clause, but instead derives from two overlapping but independent provisions found elsewhere in the Constitution. First, spending "for carrying into Execution" any enumerated power is authorized by the familiar Necessary and Proper Clause.2 Second, Article IV gives Congress "Power to dispose of ... Property belonging to the United States," one species of such property being money in the Treasury. This "Property Clause" is ample to authorize all federal spending, whether or not it is also authorized by the Necessary and Proper Clause.
David E. Engdahl, The Basis of the Spending Power, 18 SEATTLE U. L. REV. 215 (1995).