Vote Smart's Synopsis:

Vote to pass a bill that requires the Office of Management and Budget and the Council of Economic Advisers provide an inflation estimate for each executive order that is projected to cause an annual gross budgetary effect of at least $1 billion.

Highlights:

• Requires the Office of Management and Budget and the Council of Economic Advisers provide an inflation estimate for each executive order that is projected to cause an annual gross budgetary effect of at least $1 billion (Sec. 2).

• Specifies that the estimates must determine whether the executive orders will have the following effect, including, but not limited to (Sec. 2):

• No significant impact on inflation;

• A quantifiable inflationary impact on the consumer price index; or

• A significant impact on inflation that cannot be quantifiable at the time the estimate is prepared.

• Exempts executive orders that provide for emergency assistance or relief at the request of any state or local government, or any official of the government, and orders necessary for national security or the ratification or implementation of international treaty obligations from the aforementioned provisions (Sec. 2).

Full Bill Text

Full Bill Text