Washington, D.C. – In case you missed it, Roll Call covered the House passage of Congresswoman Elise Stefanik’s bill, the REIN IN Inflation Act.
Read excerpts from the article below:
Roll Call: GOP inflation reporting bill draws bipartisan House backing
House-passed legislation would require inflation impact statements for major executive orders
By: David LermanMarch 1, 2023
The House passed a Republican-drafted messaging bill Wednesday designed to express concern about Biden administration policies that backers said have spurred inflation, with support from both sides of the aisle.
The bill, sponsored by Republican Conference Chair Elise Stefanik of New York, would require the administration to assess the inflationary impact of major executive orders. No Democrats co-sponsored the measure, but it ultimately passed on a 272-148 vote with 59 Democrats crossing the aisle to support the bill.
The legislation would direct the Office of Management and Budget and the Council of Economic Advisers to assess whether those orders would have “no significant impact” on inflation or a “quantifiable impact on the consumer price index” or a “significant impact” of which the extent can’t be immediately determined.
“Whether it was canceling the Keystone XL Pipeline on his first day in office, to pushing his out-of-touch and costly Green New Deal regulations, [President] Joe Biden has fueled this inflation crisis and caused this inflation crisis working with the previous radical, socialist Democrat majority,” Stefanik said during floor debate.
She said her bill would provide “transparency” to the public “by revealing just how much Biden’s executive orders are costing hard-working families and the painful impact that has on inflation.”
The debate reflected an attempt by Republicans to blame Biden for inflation that reached a 40-year high during his tenure. Republicans fault Democratic spending, particularly a 2021 pandemic relief law, for the spike. Democrats say high inflation was a global phenomenon triggered mostly by supply chain disruptions from the pandemic, along with food and fuel cost spikes from the Ukraine war…Still, the 59 Democrats who voted for Stefanik's bill include a broad cross section of the caucus, underscoring bipartisan concerns with lingering inflation that isn't declining nearly as fast as economists once expected.
Read full article here.
