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Washington, D.C. — U.S. Senators Marco Rubio (R-FL), Rick Scott (R-FL), Jim Risch (R-ID), Thom Tillis (R-NC), Roger Marshall (R-KS), and Joni Ernst (R-IA) introduced a measure that would require all legislation passed by Senate committees to include inflationary impact statements so Americans can see the true impacts of new government spending proposals. Congressman Jim Banks (R-IN) introduced companion legislation in the U.S. House of Representatives last month.
“The Biden Administration believes more government spending is what will make life better for American families,” Rubio said. “But misguided policies have consequences. Hard-working Americans are sick of paying more at the gas pump and at the grocery store. It is clear that President Biden’s reckless and irresponsible agenda is causing the rise in inflation and hurting the American people. This bill would hold Congress accountable by requiring transparency on the inflationary impact of legislation.”
“American families are worried about growing inflation. I’ve heard countless stories from families across Florida that are having to cut back on purchases because of rising costs,” Scott said. “We know that reckless government spending causes inflation, but President Biden and the Democrats have absolutely no plans to slow down spending or get our debt under control. It’s shameful and I won’t just stand by while they try to drive our nation further into the ground with these horrible policies. Congress must get real about the true cost on every American family that this recklessness brings and start spending responsibly. That’s why I’m introducing a proposed rule change in the Senate today to require every piece of legislation passed by a committee to include a report on how it will impact inflation. The American people deserve to know how their tax dollars are being spent and each bill’s impact on inflation. I look forward to my colleagues supporting this measure to increase spending transparency.”
For a full list of cosponsor quotes, click here.