Stop Inflationary Spending Act

Hozzl · 2024-01-31T08:15:21Z

Explore the details of House Bill 361 Stop Inflationary Spending Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Economics and Public Finance. Stay informed on legislative developments.

1/31/2024, 8:15 AM

Summary of Bill HR 361

Bill 118 hr 361, also known as the Stop Inflationary Spending Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to address the issue of inflation by implementing measures to control government spending.

The bill proposes several key provisions to achieve this goal. Firstly, it calls for a freeze on all non-essential government spending for a period of one year. This includes discretionary spending on programs and projects that are not deemed essential for the functioning of the government.

Additionally, the bill aims to reduce wasteful spending by requiring all government agencies to conduct a thorough review of their budgets and identify areas where cuts can be made. This will help to ensure that taxpayer dollars are being used efficiently and effectively. Furthermore, the bill includes provisions to increase transparency and accountability in government spending. It calls for regular reporting on the status of government expenditures and requires agencies to justify any increases in their budgets. Overall, the Stop Inflationary Spending Act is aimed at addressing the issue of inflation by implementing measures to control government spending and ensure that taxpayer dollars are being used responsibly. It remains to be seen how this bill will be received by Congress and whether it will ultimately be passed into law.

Congressional Summary of HR 361

Stop Inflationary Spending Act

This bill requires the Congressional Budget Office (CBO) to provide inflation projections for bills that Congress considers using the budget reconciliation process.

Specifically, the CBO must estimate the impact on inflation that will occur from implementing each reconciliation bill, including the impact on inflation that will occur during each of the first five years after the enactment of the bill.

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Current Status of Bill HR 361

Bill HR 361 is currently in the status of Bill Introduced since January 13, 2023. Bill HR 361 was introduced during Congress 118 and was introduced to the House on January 13, 2023. Bill HR 361's most recent activity was Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of January 13, 2023

Bipartisan Support of Bill HR 361

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 361

Primary Policy Focus

Economics and Public Finance

Potential Impact Areas

- Appropriations

- Budget process

- Congressional oversight

- Government studies and investigations

- Inflation and prices

Alternate Title(s) of Bill HR 361

Stop Inflationary Spending Act

To amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to conduct an analysis of the impact on inflation from certain reconciliation legislation reported or submitted pursuant to reconciliation directives in a concurrent resolution on the budget.