The national emergency declared in 1979, against Iran, was done under the IEEPA which grants the President the power to block transactions and freeze assets against foreign threats. It doesn't grant the power to make laws.
You're delegating powers to the President that would normally require an act of congress. The sanctions against Iran are a relatively tame example, there's 46 other national emergencies that give the President far more power.
You're delegating powers to the President that would normally require an act of congress. The sanctions against Iran are a relatively tame example, there's 46 other national emergencies that give the President far more power.
Here's some good reading:
https://www.politico.com/news/2021/07/27/democrats-biden-som...
They successfully argued the President can just attack other countries whenever he wants, so long as it's part of fighting "terrorism".