What This Bill Does
This bill requires the Congressional Budget Office to analyze how reconciliation legislation (a type of budgeting process) affects inflation. The analysis must cover the year the legislation takes effect and the four years after that.
Who It Affects
The Congressional Budget Office is directly affected. Congress and the public receive the inflation analysis as part of the budget process.
Key Provisions
• The Director of the Congressional Budget Office must prepare an analysis showing inflation's impact from reconciliation legislation during the year it becomes effective and for the next four fiscal years (Sec. 2(a))
• The analysis must include the basis or reasoning for each inflation estimate (Sec. 2(a))
• This requirement applies to reconciliation legislation that is reported to the House, submitted to a House Budget Committee, or submitted directly to the House Rules Committee (Sec. 2(a))
What Changes
The Congressional Budget Office gains a new requirement to conduct and provide inflation impact analyses for certain budget-related legislation. This analysis becomes part of the normal budget process.
Important Definitions
Reconciliation legislation: A special type of legislation that follows budget directives in a concurrent resolution on the budget.
Effective Date
The date this bill is signed into law (Sec. 2(b))
I
118TH CONGRESS
1ST SESSION
H. R. 361
To amend the Congressional Budget and Impoundment Control Act of 1974
to require the Congressional Budget Office to conduct an analysis of
the impact on inflation from certain reconciliation legislation reported
or submitted pursuant to reconciliation directives in a concurrent resolu-
tion on the budget.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 13, 2023
Mr. MEUSER (for himself, Mr. CRENSHAW, Ms. SALAZAR, Mr. STEIL, Mr.
JOHNSON of Ohio, Mr. LUETKEMEYER, Mr. FALLON, Mr. KELLY of
Pennsylvania, and Mr. OBERNOLTE) introduced the following bill; which
was referred to the Committee on Rules, and in addition to the Com-
mittee 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
A BILL
To amend the Congressional Budget and Impoundment Con-
trol Act of 1974 to require the Congressional Budget
Office to conduct an analysis of the impact on inflation
from certain reconciliation legislation reported or sub-
mitted pursuant to reconciliation directives in a concur-
rent resolution on the budget.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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•HR 361 IH
SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Stop Inflationary
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Spending Act’’.
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SEC. 2. CONGRESSIONAL BUDGET OFFICE INFLATION
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ANALYSIS.
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(a) CBO INFLATION ANALYSIS.—Section 310 of the
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Congressional Budget and Impoundment Control Act of
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1974 (2 U.S.C. 641) is amended by adding at the end
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the following new subsection:
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‘‘(h) CBO ANALYSIS.—The Director of the Congres-
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sional Budget Office shall, to the extent practicable, pre-
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pare an analysis of the impact on inflation incurred in car-
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rying out reconciliation legislation in the fiscal year in
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which it is to become effective and in each of the 4 fiscal
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years following such fiscal year, together with the basis
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for each such estimate, for any reconciliation legislation
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that is—
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‘‘(1) reported to a House under subsection
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(b)(1);
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‘‘(2) submitted to a Committee on the Budget
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of a House under subsection (b)(2); or
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‘‘(3) submitted directly to the Committee on
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Rules of the House of Representatives.’’.
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•HR 361 IH
(b) EFFECTIVE DATE.—This section and the amend-
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ments made by this section shall take effect on the date
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of enactment of this Act.
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Æ
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