[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3895 Introduced in Senate (IS)]
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118th CONGRESS
2d Session
S. 3895
To amend the Congressional Budget and Impoundment Control Act of 1974
to require the Congressional Budget Office to provide an inflation
estimate with respect to legislation with a significant impact on the
gross domestic product of the United States, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 7, 2024
Mr. Manchin (for himself and Mr. Tillis) introduced the following bill;
which was read twice and referred to the Committee on the Budget
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A BILL
To amend the Congressional Budget and Impoundment Control Act of 1974
to require the Congressional Budget Office to provide an inflation
estimate with respect to legislation with a significant impact on the
gross domestic product of the United States, 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 ``Informed Lawmaking to Combat
Inflation Act''.
SEC. 2. LEGISLATIVE MANDATED INFLATION ACCOUNTABILITY AND REFORM.
(a) In General.--Part A of title IV of the Congressional Budget and
Impoundment Control Act of 1974 (2 U.S.C. 651 et seq.) is amended by
adding at the end the following:
``mandatory inflation forecasting
``Sec. 407. (a) Definitions.--In this section--
``(1) the term `Director' means the Director of the Congressional
Budget Office; and
``(2) the term `major legislation'--
``(A) means any bill or joint resolution, or amendment
thereto, amendment between the Houses in relation thereto, or
conference report thereon, that would be projected (in a
conventional cost estimate) to cause an annual gross budgetary
effect of at least 0.25 percent of the projected gross domestic
product of the United States; and
``(B) does not include measure described in subparagraph
(A) that--
``(i) provides for emergency assistance or relief
at the request of any State, local, or Tribal
government or any official of a State, local, or Tribal
government; or
``(ii) is necessary for the national security or
the ratification or implementation of international
treaty obligations.
``(b) Agency Assistance.--Each department, agency, establishment,
or regulatory agency or commission of the Federal Government shall
provide to the Director such information and assistance as the Director
may reasonably request to assist the Director in carrying out this
section.
``(c) Mandatory Inflation Forecasting.--
``(1) Submission of bills to the director.--On the date on
which an authorizing committee of the Senate or the House of
Representatives orders reported major legislation, the
committee shall promptly provide the major legislation to the
Director for the purpose of carrying out responsibilities
detailed in paragraph (2).
``(2) Mandatory reporting on inflationary forecasting.--For
any major legislation provided to the Director under paragraph
(1), the Director shall prepare and submit to the applicable
committee a statement estimating the inflationary effects of
the major legislation, which shall include--
``(A) both short-term and long-term estimates of
the inflationary effects of the major legislation; and
``(B) whether the Director determines that the
major legislation--
``(i) will have no significant impact on
inflation;
``(ii) will have quantifiable inflationary
impact on the consumer price index or the
personal consumption expenditure index; or
``(iii) is likely to have a significant
impact on inflation but the amount cannot be
determined at the time the estimate is
prepared.
``(3) Amended bills and joint resolutions; conference
reports.--If a bill or joint resolution is passed in an amended
form (including if passed by one House as an amendment in the
nature of a substitute for the text of a bill or joint
resolution from the other House) or is reported by a committee
of conference in amended form, and the amended form constitutes
major legislation not previously considered by either House,
the chair of the committee that reported the bill or joint
resolution or the chair of any other committee designated by
the Speaker of the House of Representatives or the President
pro tempore of the Senate (as the case may be), or the
committee of conference, respectively, shall ensure to the
greatest extent practicable that the Director shall prepare a
statement as provided in paragraph (2) or a supplemental
statement for the bill or joint resolution in that amended
form.
``(d) Legislation Subject to Point of Order.--It shall not be in
order in the Senate or the House of Representatives to consider any
major legislation reported by a committee unless the committee has
published a statement with respect to the major legislation prepared by
the Director in accordance with this section.
``(e) Provisions Relating to the House of Representatives.--
``(1) Enforcement.--It shall not be in order in the House
of Representatives to consider a rule or order that waives the
application of subsection (d).
``(2) Disposition of points of order.--
``(A) Application to the house of
representatives.--This paragraph shall apply only to
the House of Representatives.
``(B) Threshold burden.--In order to be cognizable
by the Chair, a point of order under subsection (d) or
paragraph (1) of this subsection must specify the
precise language on which it is premised.
``(C) Question of consideration.--As disposition of
points of order under subsection (d) or paragraph (1)
of this section, the Chair shall put the question of
consideration with respect to the proposition that is
the subject of the points of order.
``(D) Debate and intervening motions.--A question
of consideration under this section shall be debatable
for 10 minutes by each Member initiating a point of
order and for 10 minutes by an opponent on each point
of order, but shall otherwise be decided without
intervening motion except one that the House adjourn or
that the Committee of the Whole rise, as the case may
be.
``(E) Effect on amendment in order as original
text.--The disposition of the question of consideration
under this subsection with respect to a bill or joint
resolution shall be considered also to determine the
question of consideration under this subsection with
respect to an amendment made in order as original
text.''.
(b) Clerical Amendment.--The table of contents in section 1(b) of
the Congressional Budget and Impoundment Control Act of 1974 is amended
by inserting after the item relating to section 406 the following:
``Sec. 407. Mandatory inflation forecasting.''.
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