WASHINGTON, D.C. – Today, Senators Rick Scott, Jim Risch, Thom Tillis, Roger Marshall, Marco Rubio and Joni Ernst introduced an amendment to the Senate Rules to require that all bills passed by Senate committees include inflationary impact statements so Americans can see the true impacts of government spending. Congressman Jim Banks introduced the companion bill in the House last month.
Senator Rick Scott said, “American families are worried about growing inflation. I’ve heard countless stories from families across Florida that are having to cut back on purchases because of rising costs. We know that reckless government spending causes inflation, but President Biden and the Democrats have absolutely no plans to slow down spending or get our debt under control. It’s shameful and I won’t just stand by while they try to drive our nation further into the ground with these horrible policies. Congress must get real about the true cost on every American family that this recklessness brings and start spending responsibly. That’s why I’m introducing a proposed rule change in the Senate today to require every piece of legislation passed by a committee to include a report on how it will impact inflation. The American people deserve to know how their tax dollars are being spent and each bill’s impact on inflation. I look forward to my colleagues supporting this measure to increase spending transparency.”
Senator Jim Risch said, “Inflation is spiking at rates not seen in over a decade, and Idahoans are paying the price. The administration and Congressional Democrat’s support for reckless spending is fueling this crisis, and it is past time to hold them accountable for wasting taxpayer dollars. This rule change would give much-needed transparency to government spending and allow the American people to see how their hard-earned dollars are being spent.”
Senator Thom Tillis said, “The Biden administration’s reckless spending is already creating out-of-control inflation, and another massive tax and spending spree will cause more financial pain for hardworking families and small businesses. This commonsense legislation will authorize inflationary impact statements to be included in all bills passed by Senate committees to increase transparency for North Carolinians and the American people.”
Senator Roger Marshall said, “The inflation harming checking accounts of Kansans and all Americans rests squarely on the shoulders of the socialist economic policies driven by Democrats. It hurts everyone – but none more than our seniors and young hard working families living paycheck to paycheck. Out of control spending dictated by the White House and Democrats in Congress must be stopped, and hardworking Americans deserve to know how these irresponsible policies are driving up costs that will impact their everyday lives. I’m proud to partner with my colleagues to show the true cost of this radical spending spree. We must hold elected officials in Washington accountable for how Americans’ hard earned tax dollars are spent.”
Senator Marco Rubio said, “The Biden Administration believes more government spending is what will make life better for American families. But misguided policies have consequences. Hard-working Americans are sick of paying more at the gas pump and at the grocery store. It is clear that President Biden’s reckless and irresponsible agenda is causing the rise in inflation and hurting the American people. This bill would hold Congress accountable by requiring transparency on the inflationary impact of legislation.”
Senator Joni Ernst said, “Due in part to Democrats’ reckless spending, Iowans are already feeling the pinch of rising prices on almost every household item—from gasoline to food to diapers. Instead of addressing the problem, President Biden has pledged to spend trillions more to fund his liberal wish list. This effort will increase transparency and allow Americans to see the impact of the Left’s egregious spending on their pocketbooks, families, and small businesses.”
Senator Mike Braun said, “Thanks to the inflation bomb caused by Biden’s reckless spending, it’s costing Americans more to feed their families and get to work each day. The Biden administration has no intentions of slowing down their massive government spending spree and have already proposed to spend trillions more. This legislation would allow Americans to see how their hard-earned tax dollars are being spent and the impact of excessive government spending on inflation.”