[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 347 Placed on Calendar Senate (PCS)]
<DOC>
Calendar No. 23
118th CONGRESS
1st Session
H. R. 347
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 2, 2023
Received; read the first time
March 6, 2023
Read the second time and placed on the calendar
_______________________________________________________________________
AN ACT
To require the Executive Office of the President to provide an
inflation estimate with respect to Executive orders with a significant
effect on the annual gross budget, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Reduce Exacerbated Inflation
Negatively Impacting the Nation Act''.
SEC. 2. EXECUTIVE ORDER MANDATED INFLATION ACCOUNTABILITY AND REFORM.
(a) Mandatory Inflation Forecasting.--
(1) In general.--For any major Executive order, the
President, acting through the Director of the Office of
Management and Budget and the Chair of the Council of Economic
Advisers, shall prepare and consider a statement estimating the
inflationary effects of the Executive order, including whether
the Executive order is determined to have no significant impact
on inflation, is determined to have quantifiable inflationary
impact on the consumer or producer price index (including a
detailed description of such impact), or is determined likely
to have a significant impact on inflation but the amount cannot
be determined at the time the estimate is prepared. Any
statement prepared under this subsection shall incorporate the
inflationary impact of the debt servicing costs associated with
the applicable major Executive order. To the greatest extent
practicable, any estimate of the inflationary impact of any
major Executive order under this section shall take into
account the spending patterns of military personnel and of
residents of non-metropolitan areas, including rural areas and
farm households.
(2) CPI impact disaggregated.--If an Executive order is
determined to have a quantifiable inflationary impact on the
consumer price index under subsection (a), the statement
required by such subsection shall include the amount of such
impact on the consumer price index in total and disaggregated
by the Food, Energy, and All Items Less Food and Energy
categories of the consumer price index (as such categories are
determined by the Secretary of Labor in consultation with the
Commissioner of the Bureau of Labor Statistics).
(b) Agency Assistance.--The head of each agency shall provide to
the President, acting through the Director and the Chair, such
information and assistance as the President, acting through the
Director and the Chair, may reasonably request to assist the President,
acting through the Director and the Chair, in carrying out this
section.
(c) Reporting.--Not later than 180 days after the date of the
enactment of this Act, and every year thereafter, the President, acting
through the Director and the Chair, shall publish on the public website
of the Office of Management and Budget and submit to the Committees on
the Budget of the Senate and House of Representatives, the Committee on
Homeland Security and Governmental Affairs of the Senate, and the
Committee on Oversight and Accountability of the House of
Representatives a report containing each statement prepared and
considered under subsection (a) during the year.
(d) Rule of Construction.--Nothing in this section shall be
construed to suggest that the task of combating inflation and bringing
down the cost of living is the sole responsibility of the Executive
Office of the President, and not also a key pursuit of the United
States House of Representatives during the 118th Congress through
thoughtful, productive legislative action.
(e) Definitions.--In this section:
(1) Agency.--The term ``agency'' has the meaning given such
term in section 551 of title 5, United States Code.
(2) Major executive order.--The term ``major Executive
order'' means any Executive order that would be projected (in a
conventional cost estimate) to cause an annual gross budgetary
or economic effect of at least $1,000,000, but does not include
any such measure that--
(A) provides for emergency assistance or relief at
the request of any State or local government or any
official of a State or local government; or
(B) is necessary for the national security or the
ratification or implementation of international treaty
obligations.
(3) State.--The term ``State'' means each State of the
United States, the District of Columbia, each commonwealth,
territory, or possession of the United States, and each
federally recognized Indian Tribe.
Passed the House of Representatives March 1, 2023.
Attest:
CHERYL L. JOHNSON,
Clerk.
Calendar No. 23
118th CONGRESS
1st Session
H. R. 347
_______________________________________________________________________
AN ACT
To require the Executive Office of the President to provide an
inflation estimate with respect to Executive orders with a significant
effect on the annual gross budget, and for other purposes.
_______________________________________________________________________
March 6, 2023
Read the second time and placed on the calendar