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Reduce Exacerbated Inflation Negatively Impacting the Nation Act

Introduced: July 21, 2022 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 21, 2022
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Jul 21, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

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 effect of at least $1 billion.

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
  • a significant impact on inflation that cannot be quantified at the time the estimate is prepared.

The requirement does 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.

What's happening now July 21, 2022

Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1