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PRICE Act: Government Spending Control Amidst Inflation

This act aims to limit increases in government spending if inflation exceeds 3%. This means new bills that would increase outlays would be harder to pass, potentially affecting price stability and the purchasing power of citizens' money.
Key points
Establishes a rule preventing the Senate from considering bills that increase outlays if inflation is above 3%.
The goal is to prevent further price increases by controlling public spending.
The rule can only be waived by a three-fifths vote of senators.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_3770
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2022-03-07
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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

PRICE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3770.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-03-07.

What are the main provisions?

Key points include:

  • Establishes a rule preventing the Senate from considering bills that increase outlays if inflation is above 3%.
  • The goal is to prevent further price increases by controlling public spending.
  • The rule can only be waived by a three-fifths vote of senators.
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. Lee, Mike [R-UT].

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