Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

GOP Chair Stefanik pushes bill to rein in Biden policies fueling inflation ‘fire’

by January 12, 2023
January 12, 2023
GOP Chair Stefanik pushes bill to rein in Biden policies fueling inflation ‘fire’

EXCLUSIVE: House Republicans led by GOP Conference Chairwoman Elise Stefanik are pushing a bill to hold the Biden administration accountable for any action it takes that may contribute to inflation.

The ‘REIN IN Inflation Act’ would require the Biden administration take into account inflation before enacting any executive action and improve its communication and transparency with Congress. 

It would require an inflation report by the Office of Management and Budget and the chairman of the Council of Economic Advisors for any action estimated to cost over $1 billion.

Stefanik, R-N.Y., is joined by House Ways and Means Committee Chair Jason Smith, R-Mo., and House Committee on Financial Services Chair Patrick McHenry, R-N.C., as co-sponsors to the bill.

The lawmakers introduced similar legislation last Congress, but now that Republicans have the majority in the House, they are hopeful the Biden administration will be held to account. A GOP aide pointed out that, since last year, Biden has added to excessive spending by pushing his $400 billion student loan handout plan.

The current debt ceiling is $31.38 trillion, and the government is on the verge of hitting that cap.

‘Already, the new Republican majority is working to fulfill our Commitment to America and create an economy that is strong, which begins with this critical check to rein in the Biden administration’s reckless policies fueling inflation,’ Stefanik told Fox News Digital.

The consumer price index rose 7% in December from a year ago, according to a new Labor Department report released last month, marking the fastest increase since June 1982, when inflation hit 7.1%.

The CPI, which measures a bevy of goods ranging from gasoline and health care to groceries and rents, jumped 0.5% in the one-month period from November. New CPI numbers are expected to be released on Thursday.

‘The new Republican House majority is committed to honoring the promise we made to the American people to stop the reckless spending that ignited and continues to fuel inflation, which has risen 14.3% since President Biden took office,’ added Ways and Means Chairman Smith.

‘That’s exactly why we’re fighting to hold President Biden accountable for his radical executive actions that will cost taxpayers over $1 trillion and counting and has thrown more fuel on the inflation fire.’

Kelly Laco is a politics editor for Fox News Digital.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Hunter Biden, China, classified documents: Mystery swirls around Penn Biden Center
next post
Crenshaw responds to criticism after missing Congress’ early votes for Navy SEAL funeral: ‘More important’

You may also like

BREAKING: Thailand Princess, Next in Line to Throne,...

December 15, 2022

Election integrity group dishes out $50K to whistleblowers,...

July 25, 2024

She Sounds Drunk – Pelosi Says She’s Not...

November 13, 2022

Duffy brings up Clinton while noting SpaceX workers...

February 17, 2025

Biden Regime Moves Forward with US Central Bank...

September 18, 2022

Leading activist slams Dems for dragging feet on...

June 16, 2023

SCOOP: Freedom Caucus threatens to force vote on...

March 12, 2025

Arkansas Legislature approves $6.2B budget plan, sentencing overhaul

April 8, 2023

Harris suggests ‘consequences’ are on the table for...

March 25, 2024

Georgia court offers new explanation for ‘fictitious’ indictment...

August 16, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Unmasking Medicaid Money-Laundering Schemes: Medicaid Financing Gimmicks 101

      June 27, 2025
    • Top moments from the Trump-Biden debate that changed the course of the 2024 election

      June 27, 2025
    • Trump exerted ‘maximum pressure’ on Iran and Israel to ‘deliver peace’: Leavitt

      June 27, 2025
    • Iranian foreign minister reiterates ‘serious damage’ to nuclear facilities, despite ayatollah’s comments

      June 27, 2025
    • Maybe Most People Do Not Want Teacher-Led Public School Prayer—But They Do Want Chaplains

      June 27, 2025
    • Flashback: The debate night against Trump that threw Biden’s reelection campaign into a free fall

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,076)
    • Politics (15,829)
    • Stocks (3,173)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved