Informed Lawmaking to Combat Inflation Act
- Last Action
- 5/24/2023
Actions
- 2023-05-24Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-05-24Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-05-24Introduced in House
- 2023-05-24Introduced in House
CRS Summary
As of 2023-05-24 (00)
Informed Lawmaking to Combat Inflation Act
This bill requires the Congressional Budget Office to provide inflation estimates for certain legislation that provides for direct spending and is projected to cause an annual gross budgetary effect of at least 0.25% of the projected gross domestic product of the United States.
The estimates must determine whether the legislation will have
- no significant impact on inflation,
- a quantifiable inflationary impact on the consumer price index, or
- a significant impact on inflation that cannot be quantified at the time the estimate is prepared.
The requirement does not apply to legislation that (1) provides for emergency assistance or relief at the request of any state, local, or tribal government; or (2) is necessary for the national security or the ratification or implementation of international treaty obligations.
Cosponsors (3)
- Wiley Nickel (D-NC)
- Brad Finstad (R-MN)
- Henry Cuellar (D-TX)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.