Section 1 Short title
This Act may be cited as the “Providing Reports on Inflation Costs and Economic Impact Act” or the “PRICE Act”.
Providing Reports on Inflation Costs and Economic Impact Act
A BILL
To create a point of order requiring an inflation impact report with any legislation that makes discretionary appropriations.
Sec. 2 Point of order requiring an inflation impact report with any legislation that makes discretionary appropriations
Point of order— It shall not be in order in the Senate to consider a bill, joint resolution, motion, amendment, amendment between the Houses, or conference report making discretionary appropriations (as defined in section 250(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900(c))) unless an inflation impact report by the Congressional Budget Office with respect to the measure is submitted for publication in the Congressional Record, including an analysis of the impact the measure would have on—
the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor;
the Employment Cost Index for private industry workers published by the Bureau of Labor Statistics; and
the purchasing power of consumers, including a comparison of the impact described in paragraph (1) and the impact described in paragraph (2).
Supermajority waiver and appeals—
Waiver— This section may be waived or suspended in the Senate only by the affirmative vote of three-fifths of the Members, duly chosen and sworn.
Appeals— Appeals in the Senate from the decisions of the Chair relating to any provision of this section shall be limited to 1 hour, to be equally divided between, and controlled by, the appellant and the manager of the bill or joint resolution, as the case may be. An affirmative vote of three-fifths of the Members of the Senate, duly chosen and sworn, shall be required to sustain an appeal of the ruling of the Chair on a point of order raised under this section.