Inflation Prevention Act
Bill: H.R.6485 | Sponsor: Rep. Garcia, Mike (R-CA)
Policy area: Congress

Summary:
Inflation Prevention Act
This bill establishes a point of order that, when the annualized rate of inflation exceeds 4.5%, prohibits the House and Senate from considering legislation that provides new budget authority and is estimated to result in an increase to the rate of inflation. The prohibition may be waived in the Senate by an affirmative vote of three-fifths of the Senate.

To create a point of order against spending that will increase 
  inflation unless inflation is not greater than 4.5 percent, 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 ``Inflation Prevention Act''.

SEC. 2. POINT OF ORDER AGAINST SPENDING THAT WILL INCREASE INFLATION 
              UNTIL INFLATION IS NOT GREATER THAN 4.5 PERCENT.

    (a) Point of Order in the Senate.--
            (1) In general.--In the Senate, it shall not be in order to 
        consider a provision in a bill, joint resolution, motion, 
        amendment, amendment between the Houses, or conference report 
        that provides new budget authority and that is estimated to 
        result in an increase in the Consumer Price Index for All Urban 
        Consumers, as published by the Bureau of Labor Statistics, 
        unless the annualized rate of increase in the Consumer Price 
        Index for All Urban Consumers most recently published by the 
        Bureau of Labor Statistics is not more than 4.5 percent.
            (2) Point of order sustained.--If a point of order is made 
        by a Senator against a provision described in paragraph (1), 
        and the point of order is sustained by the Chair, that 
        provision shall be stricken from the measure and may not be 
        offered as an amendment from the floor.
            (3) Form of the point of order.--A point of order under 
        subsection (a)(1) may be raised by a Senator as provided in 
        section 313(e) of the Congressional Budget Act of 1974 (2 
        U.S.C. 644(e)).
            (4) Conference reports.--When the Senate is considering a 
        conference report on, or an amendment between the Houses in 
        relation to, a bill or joint resolution, upon a point of order 
        being made by any Senator pursuant to subsection (a)(1), and 
        such point of order being sustained, such material contained in 
        such conference report or House amendment shall be stricken, 
        and the Senate shall proceed to consider the question of 
        whether the Senate shall recede from its amendment and concur 
        with a further amendment, or concur in the House amendment with 
        a further amendment, as the case may be, which further 
        amendment shall consist of only that portion of the conference 
        report or House amendment, as the case may be, not so stricken. 
        Any such motion in the Senate shall be debatable. In any case 
        in which such point of order is sustained against a conference 
        report (or Senate amendment derived from such conference report 
        by operation of this paragraph), no further amendment shall be 
        in order.
            (5) Supermajority waiver and appeal.--In the Senate, this 
        subsection may be waived or suspended only by an affirmative 
        vote of three-fifths of the Members, duly chose and sworn. An 
        affirmative vote of three-fifths of Members of the Senate, duly 
        chosen and sworn shall be required to sustain an appeal of the 
        ruling of the Chair on a point of order raised under this 
        subsection.
    (b) Point of Order in the House of Representatives.--In the House 
of Representatives, it shall not be in order to consider a bill, joint 
resolution, motion, amendment, amendment between the Houses, or 
conference report that provides new budget authority and that is 
estimated to result in an increase in the Consumer Price Index for All 
Urban Consumers, as published by the Bureau of Labor Statistics, unless 
the annualized rate of increase in the Consumer Price Index for All 
Urban Consumers most recently published by the Bureau of Labor 
Statistics is not more than 4.5 percent.
    (c) Determination of Effect on Inflation.--
            (1) Provision of estimates.--Upon request by a Member of 
        Congress, the Congressional Budget Office shall prepare an 
        estimate of the effect on the Consumer Price Index for All 
        Urban Consumers of the provisions in a bill, joint resolution, 
        motion, amendment, amendment between the Houses, or conference 
        report that provide new budget authority.
            (2) In general.--The estimated amount of the increase in 
        the Consumer Price Index for All Urban Consumers, if any, for 
        purposes of this section shall be determined based on estimates 
        prepared by the Congressional Budget Office.

SEC. 3. CBO NOTIFICATION TO CONGRESS.

    (a) In General.--The Congressional Budget Office shall notify 
Congress if the annualized rate of increase in the Consumer Price Index 
for All Urban Consumers is greater than 4.5 percent.
    (b) Submission.--The Congressional Budget Office may submit the 
certification required under subsection (a) as part of another report 
required to be submitted to Congress.
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