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 determine whether the legislation will have
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.
[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6629 Introduced in House (IH)]
<DOC>
117th CONGRESS
2d Session
H. R. 6629
To amend the Congressional Budget and Impoundment Control Act of 1974
to require the Congressional Budget Office to provide an inflation
estimate with respect to legislation with a significant impact on the
Gross Domestic Product of the United States, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 7, 2022
Mr. Katko (for himself, Mrs. Murphy of Florida, Mrs. Hinson, and Mr.
Schrader) introduced the following bill; which was referred 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
_______________________________________________________________________
A BILL
To amend the Congressional Budget and Impoundment Control Act of 1974
to require the Congressional Budget Office to provide an inflation
estimate with respect to legislation with a significant impact on the
Gross Domestic Product of the United States, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Informed Lawmaking to Combat
Inflation Act''.
SEC. 2. LEGISLATIVE MANDATED INFLATION ACCOUNTABILITY AND REFORM.
(a) In General.--Part A of title IV of the Congressional Budget and
Impoundment Control Act of 1974 is amended by adding at the end the
following:
``mandatory inflation forecasting
``Sec. 407. (a) Definitions.--In this section--
``(1) the term `Director' means the Director of the Congressional
Budget Office; and
``(2) the term `major legislation' means any bill or joint
resolution, or amendment thereto or conference report thereon, that
would be projected (in a conventional cost estimate) to cause an annual
gross budgetary effect of at least 0.25 percent of projected Gross
Domestic Product of the United States, but does not include any such
measure that--
``(A) provides for emergency assistance or relief at the
request of any State, local, or tribal government or any
official of a State, local, or tribal government; or
``(B) is necessary for the national security or the
ratification or implementation of international treaty
obligations.
``(b) Agency Assistance.--Each department, agency, establishment,
or regulatory agency or commission, shall provide to the Director such
information and assistance as the Director may reasonably request to
assist the Director in carrying out this section.
``(c) Mandatory Inflation Forecasting.--
``(1) Submission of bills to the director.--On the date
that a committee of authorization of the Senate or the House of
Representatives orders reported major legislation, the
committee shall promptly provide the legislation to the
Director for the purpose of carrying out responsibilities
detailed in paragraph (2).
``(2) Mandatory reporting on inflationary forecasting.--For
any major legislation provided to the Director under paragraph
(1), the Director shall prepare and submit to the applicable
committee a statement estimating the inflationary effects of
the legislation, including whether the legislation is
determined to have no significant impact on inflation, is
determined to have quantifiable inflationary impact on the
consumer price index, or is determined likely to have a
significant impact on inflation but the amount cannot be
determined at the time the estimate is prepared.
``(3) Amended bills and joint resolutions; conference
reports.--If a bill or joint resolution is passed in an amended
form (including if passed by one House as an amendment in the
nature of a substitute for the text of a bill or joint
resolution from the other House) or is reported by a committee
of conference in amended form, and the amended form constitutes
major legislation not previously considered by either House,
then the chair of the committee that reported the bill or joint
resolution or any other committee chair designated by the
Speaker of the House of Representatives or the President pro
tempore of the Senate (as the case may be), or the committee of
conference, respectively, shall ensure to the greatest extent
practicable that the Director shall prepare a statement as
provided in paragraph (2) or a supplemental statement for the
bill or joint resolution in that amended form.
``(d) Legislation Subject to Point of Order.--It shall not be in
order in the Senate or the House of Representatives to consider any
major legislation reported by a committee unless the committee has
published a statement of the Director in accordance with this section.
``(e) Provisions Relating to the House of Representatives.--
``(1) Enforcement.--It shall not be in order in the House
of Representatives to consider a rule or order that waives the
application of subsection (d).
``(2) Disposition of points of order.--
``(A) Application to the house of
representatives.--This paragraph shall apply only to
the House of Representatives.
``(B) Threshold burden.--In order to be cognizable
by the Chair, a point of order under subsection (d) or
paragraph (1) of this subsection must specify the
precise language on which it is premised.
``(C) Question of consideration.--As disposition of
points of order under subsection (d) or paragraph (1)
of this section, the Chair shall put the question of
consideration with respect to the proposition that is
the subject of the points of order.
``(D) Debate and intervening motions.--A question
of consideration under this section shall be debatable
for 10 minutes by each Member initiating a point of
order and for 10 minutes by an opponent on each point
of order, but shall otherwise be decided without
intervening motion except one that the House adjourn or
that the Committee of the Whole rise, as the case may
be.
``(E) Effect on amendment in order as original
text.--The disposition of the question of consideration
under this subsection with respect to a bill or joint
resolution shall be considered also to determine the
question of consideration under this subsection with
respect to an amendment made in order as original
text.''.
(b) Clerical Amendment.--The table of contents in section 1(b) of
the Congressional Budget and Impoundment Control Act of 1974 is amended
by inserting after the item relating to section 406 the following:
``Sec. 407. Mandatory inflation forecasting.''.
<all>
Introduced in House
Introduced in House
Referred 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.
Referred 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.
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