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Informed Lawmaking to Combat Inflation Act

USA118th CongressS-3895| Senate 
| Updated: 3/7/2024
Joe Manchin

Joe Manchin

Independent Senator

West Virginia

Cosponsors (1)
Thomas Tillis (Republican)

Budget Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Informed Lawmaking to Combat Inflation Act This bill requires the Congressional Budget Office to provide inflation estimates for certain legislation that 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 include both the short-term and long-term inflationary effects of the legislation. Specifically, the estimates must determine whether the legislation will have no significant impact on inflation, a quantifiable inflationary impact on the consumer price index or the personal consumption expenditure 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.
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Timeline
May 24, 2023

Latest Companion Bill Action

HR 118-3640
Introduced in House
Mar 7, 2024
Introduced in Senate
Mar 7, 2024
Read twice and referred to the Committee on the Budget.
  • May 24, 2023

    Latest Companion Bill Action

    HR 118-3640
    Introduced in House


  • March 7, 2024
    Introduced in Senate


  • March 7, 2024
    Read twice and referred to the Committee on the Budget.

Economics and Public Finance

Related Bills

  • HR 118-3640: Informed Lawmaking to Combat Inflation Act

Informed Lawmaking to Combat Inflation Act

USA118th CongressS-3895| Senate 
| Updated: 3/7/2024
Informed Lawmaking to Combat Inflation Act This bill requires the Congressional Budget Office to provide inflation estimates for certain legislation that 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 include both the short-term and long-term inflationary effects of the legislation. Specifically, the estimates must determine whether the legislation will have no significant impact on inflation, a quantifiable inflationary impact on the consumer price index or the personal consumption expenditure 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 24, 2023

Latest Companion Bill Action

HR 118-3640
Introduced in House
Mar 7, 2024
Introduced in Senate
Mar 7, 2024
Read twice and referred to the Committee on the Budget.
  • May 24, 2023

    Latest Companion Bill Action

    HR 118-3640
    Introduced in House


  • March 7, 2024
    Introduced in Senate


  • March 7, 2024
    Read twice and referred to the Committee on the Budget.
Joe Manchin

Joe Manchin

Independent Senator

West Virginia

Cosponsors (1)
Thomas Tillis (Republican)

Budget Committee

Economics and Public Finance

Related Bills

  • HR 118-3640: Informed Lawmaking to Combat Inflation Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted