Providing Reports on Inflation Costs and Economic Impact Act

Bill: 117-s-3634
Sponsor: full_name: Sen. Ernst, Joni [R-IA]
Introduced: 2022-02-10
Policy area: Economics and Public Finance
Latest action: action_date: 2022-02-10
text: Read twice and referred to the Committee on Rules and Administration.

Summaries:
action_date: 2022-02-10
action_desc: Introduced in Senate
text: <p><strong>Providing Reports on Inflation Costs and Economic Impact Act or the PRICE Act</strong></p> <p>This bill establishes a point of order that prohibits the Senate from considering legislation that provides discretionary appropriations unless a Congressional Budget Office (CBO) report regarding the impact of the legislation on inflation has been submitted for publication in the Congressional Record. </p> <p>The CBO report must include an analysis of the impact the legislation would have on</p> <ul> <li>the Consumer Price Index for all Urban Consumers, </li> <li>the Employment Cost Index for private industry workers, and</li> <li>the purchasing power of consumers.</li> </ul> <p>The point of order may be waived or suspended by an affirmative vote of three-fifths of the Senate. </p>

tv_txt: II 117th CONGRESS 2d Session S. 3634 IN THE SENATE OF THE UNITED STATES February 10, 2022 Ms. Ernst (for herself, Mr. Braun , Mr. Grassley , Mr. Hagerty , Mr. Scott of Florida , and Mrs. Blackburn ) introduced the following bill; which was read twice and referred to the Committee on Rules and Administration A BILL To create a point of order requiring an inflation impact report with any legislation that makes discretionary appropriations.

1. Short title This Act may be cited as the Providing Reports on Inflation Costs and Economic Impact Act or the PRICE Act . 2. Point of order requiring an inflation impact report with any legislation that makes discretionary appropriations (a) Point of order It shall not be in order in the Senate to consider a bill, joint resolution, motion, amendment, amendment between the Houses, or conference report making discretionary appropriations (as defined in section 250(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 ( 2 U.S.C. 900(c) )) unless an inflation impact report by the Congressional Budget Office with respect to the measure is submitted for publication in the Congressional Record, including an analysis of the impact the measure would have on— (1) the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor; (2) the Employment Cost Index for private industry workers published by the Bureau of Labor Statistics; and (3) the purchasing power of consumers, including a comparison of the impact described in paragraph (1) and the impact described in paragraph (2). (b) Supermajority waiver and appeals (1) Waiver This section may be waived or suspended in the Senate only by the affirmative vote of three-fifths of the Members, duly chosen and sworn. (2) Appeals Appeals in the Senate from the decisions of the Chair relating to any provision of this section shall be limited to 1 hour, to be equally divided between, and controlled by, the appellant and the manager of the bill or joint resolution, as the case may be. An affirmative vote of three-fifths of the 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 section.