Mandatory Inflation Assessment for Major Legislation
This act requires the Congressional Budget Office to assess the inflationary impact of major legislative proposals. This aims to help Congress make more informed decisions that could affect the prices of goods and services, and thus citizens' purchasing power.
Key points
Introduces mandatory inflation assessment for legislation with a significant impact on the U.S. economy.
The Congressional Budget Office will determine if legislation has an inflationary impact or not.
Without such an assessment, major legislation cannot be considered by the Senate or House of Representatives.
Expired
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