On Wednesday the House passed the Reduce Exacerbated Inflation Negatively Impacting the Nation (REIN IN) Inflation Act. This bill requires the Biden Administration to publish the inflationary impact of executive actions before enacting them.
While making arguments on the floor for the measure, Rep. Chip Roy (R-Texas) pulled no punches.
“We are allowing the executive branch to run amok. We're allowing the executive branch to essentially legislate and make massive policies that have an enormous impact on everyday, hardworking, American people. That's why this legislation is important,” Roy said.
“Unlike our colleagues on the other side of the aisle who like to use the power of government to be able to actually put gasoline on the fire of inflation by spending more money, by engaging government into the business of the American people. We want to be able to look at information about what government is doing to cause the problem in the first place.
For example, the president's executive order on vaccine mandates. You don't believe that had a massive inflationary impact? To go around this country, forcing people to stick a needle in their arm or lose their job, causing all sorts of constraints in labor supply, making it difficult for people to carry out their jobs.
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You don't believe that the executive orders on minimum wage, the executive orders on the Keystone pipeline and other limitations on federal oil and gas leases, the executive orders with respect to quotas and NEPA and all sorts of environmental rules and regulations that restrict the ability of the American people to create wealth, create jobs, create opportunity - you don't believe those create inflationary impact? Of course they do.
Our job in Congress is to check the executive branch. Our job in Congress to stand up for the American people and get the government out of their lives,” Roy added.
If the bill becomes law, it would require the Office of Management and Budget (OMB) and the Council of Economic Advisers to provide an inflation estimate for each executive order that’s projected to cause an annual budgetary effect of at least $1 billion.
Executive orders dealing with emergency assistance, national security or international treaty obligations are exempt from the bill.
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