Mar 7 2024

WASHINGTON, D.C. – Today, Senators Thom Tillis (R-NC) and Joe Manchin (D-WV) introduced the bipartisan Informed Lawmaking to Combat Inflation Act, which would require the Congressional Budget Office (CBO) to provide inflation estimates for bills introduced by Congress. Currently, the CBO is responsible for issuing estimates for how legislation being considered by Congress would impact direct spending, revenues, and the federal deficit, but is not required to measure the inflationary impacts of bills.

“Congress must take into account the economic realities of inflation when considering any new legislation,” said Senator Tillis. “This legislation requires the CBO to provide estimates for how certain legislation will impact inflation, giving lawmakers a clearer understanding of how their policy decisions will impact constituents.”

Full text of the legislation is available HERE.