S. 3895 · 118th Congress
Informed Lawmaking to Combat Inflation Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ManchinSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires the Congressional Budget Office to provide inflation estimates for certain legislation that is projected to cause an annual gross budgetary effect of at least 0.25% of the projected gross domestic product of the United States.
What it does: CRS summary · Introduced in Senate · Mar 7, 2024
Informed Lawmaking to Combat Inflation Act
This bill requires the Congressional Budget Office to provide inflation estimates for certain legislation that is projected to cause an annual gross budgetary effect of at least 0.25% of the projected gross domestic product of the United States.
The estimates must include both the short-term and long-term inflationary effects of the legislation. Specifically, the estimates must determine whether the legislation will have
- no significant impact on inflation,
- a quantifiable inflationary impact on the consumer price index or the personal consumption expenditure index, or
- a significant impact on inflation that cannot be quantified at the time the estimate is prepared.
The requirement does not apply to legislation that (1) provides for emergency assistance or relief at the request of any state, local, or tribal government; or (2) is necessary for the national security or the ratification or implementation of international treaty obligations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Informed Lawmaking to Combat Inflation Act
Latest action (Mar 7, 2024): Read twice and referred to the Committee on the Budget.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Mar 7, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.