Today, U.S. Representatives Kurt Schrader (D-OR-05), John Katko (R-NY-24), Stephanie Murphy (D-FL-7), and Ashley Hinson (R-IA-1) introduced the Informed Lawmaking to Combat Inflation Act. This bipartisan legislation is aimed at addressing the inflationary impact of major legislation in Congress. The bill directs the nonpartisan Congressional Budget Office (CBO) to analyze the inflationary impact of legislation with a budgetary impact of over 0.25% of the nation’s Gross Domestic Product (GDP).
“Oregonians and people throughout the Country are facing higher prices right now. The inflation we are seeing is a global issue, driven by a global pandemic that continues to cause major disruptions to the supply side of the economy, making it hard for businesses, workers and the global supply chain to fully operate and meet soaring consumer demand,” said Rep. Schrader. “There is more we can do to address this, and I am proud to join my colleagues in introducing this bipartisan legislation that would equip Congress with better information on how major legislation could impact inflation. This will help protect our hard-won gains and keep Oregon moving forward.”