118th Congress · HOUSE BILLBILL

H.R. 3640Informed Lawmaking to Combat Inflation Act

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 direct spending legislation with a significant impact on the Gross Domestic Product of the United States, and for other purposes.

Economics and public finance
Introduced May 24, 2023
Last action May 24, 2023
Pipeline · Bill → Law
Step 1
Introduced
May 24, 2023
Step 2
Referred
May 24, 2023
Budget · Rules
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill requires the Congressional Budget Office to provide inflation estimates for certain legislation that provides for direct spending and 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 determine whether the legislation will have no significant impact on inflation, a quantifiable inflationary impact on the consumer price 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 governmen...

Provisions · 2 sectionsIntroduced in House
Timeline · 3 actions
May 24, 2023
Introduced in House
May 24, 2023
Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 24, 2023
Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.