Mandatory Inflation Impact Assessment for Major Legislation
This bill aims to ensure that Congress must assess how major public spending bills might affect inflation before they are passed. This will give citizens a clearer picture of the potential financial consequences for their daily lives before new laws take effect.
Key points
Requires the Congressional Budget Office (CBO) to estimate the inflationary effects of major legislation.
Bills with a significant economic impact (at least 0.25% of GDP) will need an inflation assessment.
Without such an assessment, Congress cannot consider these bills, increasing transparency in the legislative process.
Expired
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