WASHINGTON, D.C. – In case you missed it, Senator Rick Scott asked for unanimous consent on the Senate floor yesterday to pass his amendment to require that all bills passed by Senate committees include inflationary impact statements so Americans can see the true impacts of government spending. Senate Democrats blocked its passage. Congressman Jim Banks introduced the companion bill in the House last month.
See more from his speech on the Senate floor HERE or in the Fox Business article, Senate votes against GOP resolution requiring analysis on how all spending, tax bills will impact inflation, below:
“Senate Republicans on Wednesday evening hoped to pass a resolution requiring all spending and tax-related legislation to included analyses on how they will impact inflation, but it did not get enough votes.
Sen. Rick Scott, R-Fla., introduced the rule change — which was first presented to the House in May by Republican Indiana Rep. Jim Banks, chairman of the Republican Study Committee — on July 28 as a resolution to President Biden's bipartisan $1.2 trillion infrastructure package amid concerns of rising inflation.
‘Over the weekend, the suspension on the federal debt ceiling expired, and that leaves Congress with two choices: Continue this reckless, wasteful spending with no accountability to the American people, or start making the tough choices to put America on a successful path,’ Scott said Wednesday as he called for unanimous consent to pass the resolution, which received 52 out of 60 votes needed.
The resolution, S. Res. 327, would require the Congressional Budget Office to determine a spending bill's impact on inflation in committee reports.
The Florida senator added that the resolution would help ‘those living on fixed incomes, low-income earners and small businesses who can't absorb cost increases.’
Scott responded saying he would not support ‘anything that increases inflation on American families.’”
Read the full article on Fox Business HERE.