Rep. Elise Stefanik (R-N.Y.) has announced a proposal that would hold the Biden administration accountable for record inflation that has climbed to a 41-year-high.
The bill, titled REIN IN Inflation Act, would require the administration to assess the inflationary effect of any executive order before implementing it. The Council of Economic Advisors and the Office of Management and Budget, the White House agencies charged with advising the president on economic-related policies and administering the federal budget, respectively, would need to prepare a report estimating the inflationary effects of any action that costs $1 billion or more.
