> The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises
[0] https://constitution.congress.gov/browse/essay/artI-S8-C1-1-...
If giving the US President unlimited and arbitrary authority as long as they can claim it was useful for meeting a legal obligation created by Congress were the correct interpretation then we need look no further than the "Take Care" clause of the US Constitution, where the US President is given the obligation to take care that all laws are faithfully executed -- which, with this interpretation, would mean that any action would be under the purview of the US President as long as they could claim at doing that action resulted in the laws being faithfully executed.
That doesn't sound like "well, this would be too hard to undo" to me, and making that argument elsewhere doesn't diminish the main point.
But yes it is basically eliminating parliament and rule by a monarch- making a mockery of 1776.