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Expressing the sense of the House of Representatives that two consecutive quarters of negative growth in gross domestic product, as reported by the Bureau of Economic Analysis, constitutes a recession.
12/29/2022, 6:33 PM
Summary of Bill HRES 1290
Bill 117 H.Res. 1290, titled "Expressing the sense of the House of Representatives that two consecutive quarters of negative growth in gross domestic product, as reported by the Bureau of Economic Analysis, constitutes a recession," is a resolution introduced in the US Congress.
The purpose of this resolution is to officially recognize and acknowledge that when the Bureau of Economic Analysis reports two consecutive quarters of negative growth in the gross domestic product (GDP) of the United States, it signifies the occurrence of a recession. This resolution aims to establish a clear and objective definition of a recession based on economic indicators.
The resolution emphasizes the importance of monitoring and analyzing economic data, particularly GDP growth, to accurately assess the state of the economy. By defining a recession as two consecutive quarters of negative GDP growth, policymakers and the public can better understand and respond to economic downturns. Overall, Bill 117 H.Res. 1290 seeks to provide clarity and guidance on how to identify and interpret recessions based on objective economic data, ultimately helping to inform decision-making and policy responses to economic challenges.
The purpose of this resolution is to officially recognize and acknowledge that when the Bureau of Economic Analysis reports two consecutive quarters of negative growth in the gross domestic product (GDP) of the United States, it signifies the occurrence of a recession. This resolution aims to establish a clear and objective definition of a recession based on economic indicators.
The resolution emphasizes the importance of monitoring and analyzing economic data, particularly GDP growth, to accurately assess the state of the economy. By defining a recession as two consecutive quarters of negative GDP growth, policymakers and the public can better understand and respond to economic downturns. Overall, Bill 117 H.Res. 1290 seeks to provide clarity and guidance on how to identify and interpret recessions based on objective economic data, ultimately helping to inform decision-making and policy responses to economic challenges.
Congressional Summary of HRES 1290
This resolution states that two consecutive quarters of negative growth in gross domestic product constitutes a recession.
Read the Full Bill
Current Status of Bill HRES 1290
Bill HRES 1290 is currently in the status of Bill Introduced since July 27, 2022. Bill HRES 1290 was introduced during Congress 117 and was introduced to the House on July 27, 2022. Bill HRES 1290's most recent activity was Referred to the House Committee on Oversight and Reform. as of July 27, 2022
Bipartisan Support of Bill HRES 1290
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HRES 1290
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HRES 1290
Expressing the sense of the House of Representatives that two consecutive quarters of negative growth in gross domestic product, as reported by the Bureau of Economic Analysis, constitutes a recession.
Expressing the sense of the House of Representatives that two consecutive quarters of negative growth in gross domestic product, as reported by the Bureau of Economic Analysis, constitutes a recession.
Comments
Sponsors and Cosponsors of HRES 1290
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