Bill Requires Inflation Estimate for Major Executive Orders

Washington, D.C. — Yesterday, Florida Congressman Daniel Webster, R-Clermont, voted to pass H.R. 347, the REIN IN Act, legislation that would require the President to estimate the inflationary effects of major executive orders and provide the estimates to Congress. The bill passed with bipartisan support on a vote of 272 – 148. 
 
“House Republicans are keeping their promise to restore government accountability, transparency, and hold President Biden accountable for his actions and policies that are burdening Americans,” said Rep. Webster. “For several years, I’ve introduced legislation and advocated for my colleagues to join me in supporting more accountability around Executive Orders and H.R. 347 is a step in the right direction.”
 
H.R. 347 requires the Office of Management and Budget and the Council of Economic Advisers to provide an inflation estimate for each executive order that is projected to cause an annual gross budgetary effect of at least $1 billion.