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118th Congress > House > Vote 124
Clerk session vote number: 125
Sponsor: STEFANIK, Elise M. (R-NY)
Description: Bost of Illinois Amendment No. 1
Bill summary:
Reduce Exacerbated Inflation Negatively Impacting the Nation Act
This bill requires the Office of Management and Budget and the Council of Economic Advisers to provide an inflation estimate for each executive order that is projected to cause an annual gross budgetary or economic effect of at least $1 million.
The estimate must determine whether the executive order will have
- no significant impact on inflation,
- a quantifiable inflationary impact on the Consumer Price Index or the Producer Price Index, or
- a significant impact on inflation that cannot be quantified at the time the estimate is prepared.
The estimate must also (1) incorporate the inflationary impact of the debt servicing costs associated with the executive order; and (2) take into account the spending patterns of military personnel and of residents of non-metropolitan areas, including rural areas and farm households.
The requirements do not apply to executive orders that (1) provide for emergency assistance or relief at the request of any state or local government or an official of the government, or (2) are necessary for national security or the ratification or implementation of international treaty obligations.
Bill titles: To require the Executive Office of the President to provide an inflation estimate with respect to Executive orders with a significant effect on the annual gross budget, and for other purposes.
Links for more info on the vote: congress.gov
