HR 3640
Informed Lawmaking to Combat Inflation Act
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Bill overview
This bill, the Informed Lawmaking to Combat Inflation Act, requires the Congressional Budget Office (CBO) to provide inflation estimates when legislation includes direct spending and is projected to have a significant impact on the U.S. economy (at least 0.25% of GDP). These estimates will determine if the legislation could cause inflation, quantify its impact, or if a precise measurement is not possible at the time. The requirement doesn't apply to emergency assistance or national security-related measures. The bill also establishes a process for committees to provide legislation to the CBO for these estimates and ensures that legislation with amended versions also receives an inflation assessment.
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Primary sponsor
Cosponsors
Wiley Nickel
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