WASHINGTON, DC – Today, Congressman Bryan Steil (WI-01) released a statement after voting to pass H.R. 347, the REIN IN Act, legislation to require the Administration to publish the inflationary impact of executive actions before enacting them.
“Inflation is clobbering workers, families, and seniors on fixed incomes. The federal government is spending far too much already. We need to focus on protecting promises we have made like Social Security and Medicare. This legislation will put a check on any Executive Actions that could lead to higher costs.”
Background:
Steil is a cosponsor of H.R. 347. The bill would require the Chairman of the Council of Economic Advisors (CEA) and Office of Management and Budget (OMB) to prepare a report including inflationary effects for any executive action with an estimated impact of at least $1 billion. The White House would then have to report these findings to Congress each year to increase transparency and accountability over executive actions.
Since taking office, President Biden has signed 107 executive orders including cancelling the Keystone XL Pipeline and proposing to “cancel” student loan debt.
