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House of Representatives Rejects MMT: Warning Against Inflation and Debt

This U.S. House of Representatives resolution states the belief that adopting Modern Monetary Theory (MMT) would lead to higher budget deficits and increased inflation. The document emphasizes the House's duty to abandon this theory in favor of traditional economic frameworks to protect the stability of public finances and the purchasing power of money, which directly impacts citizens' daily lives and savings.
Key points
The House of Representatives recognizes that large deficits are dangerous and irresponsible.
According to the House, adopting MMT would lead to increased deficits and inflation, potentially meaning higher prices and a decrease in the value of citizens' money.
The resolution calls for abandoning MMT and returning to traditional economic management methods to avoid negative consequences for the nation's finances and its citizens.
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Expired
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Additional Information
Print number: 117_HRES_267
Sponsor: Rep. Hern, Kevin [R-OK-1]
Process start date: 2021-03-23
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Recognizing the duty of the House of Representatives to abandon Modern Monetary Theory and recognizing that the acceptance of Modern Monetary Theory would lead to higher deficits and higher inflation.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HRES_267.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-23.

What are the main provisions?

Key points include:

  • The House of Representatives recognizes that large deficits are dangerous and irresponsible.
  • According to the House, adopting MMT would lead to increased deficits and inflation, potentially meaning higher prices and a decrease in the value of citizens' money.
  • The resolution calls for abandoning MMT and returning to traditional economic management methods to avoid negative consequences for the nation's finances and its citizens.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Hern, Kevin [R-OK-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy