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Inflation Prevention Act: New Rules for Government Spending

This act introduces new rules for government spending. If inflation exceeds 4.5%, the Senate will not be able to approve new expenditures that could increase it. This aims to protect citizens' purchasing power.
Key points
Limits new government spending when inflation is high (above 4.5%).
The Congressional Budget Office will assess the inflationary impact of proposed spending.
Aims to stabilize prices and protect citizens' savings from losing value.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_3495
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2022-01-12
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Inflation Prevention Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3495.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-01-12.

What are the main provisions?

Key points include:

  • Limits new government spending when inflation is high (above 4.5%).
  • The Congressional Budget Office will assess the inflationary impact of proposed spending.
  • Aims to stabilize prices and protect citizens' savings from losing value.
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 Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Public Investments