Reduce Exacerbated Inflation Negatively Impacting the Nation Act

Floor Speech

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Ms. OMAR. Mr. Chair, I yield myself such time as I may consume.

Mr. Chair, I rise today to call on Congress to take up economic measurement tools that will uplift all Americans.

My amendment would add factors from the genuine progress indicator to register budgetary reporting. GPI would supplement the information we get from traditional measures like GDP, which mainly emphasizes growth for its own sake.

GPI would provide a more accurate and inclusive assessment of economic well-being. It evaluates the positive and negative factors of economic activity ranging from the benefits of infrastructure and workforce development to the process costs of income inequality and pollution on our collective well-being.

It would give us the chance to finally account for important but overlooked aspects of society such as wealth distribution, economic sustainability, and the overall quality of life for everyday Americans.

We must recognize that collective prosperity is only attainable if we identify the gaps and barriers preventing our most vulnerable communities from thriving.

My amendment simply seeks to give lawmakers more comprehensive data so that we can make more informed policy decisions.

Mr. Chair, I urge my colleagues to vote for this amendment in order to focus our policy lens on the lives of working and poor families in America.

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Ms. OMAR. Mr. Chairman, I yield such time as he may consume to the gentleman from Maryland (Mr. Raskin).

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Ms. OMAR. Mr. Chairman, as my colleague on the other side of the aisle admittedly said, this is just another factor that gives us more tools, more ability to fully comprehend what is happening with our economy.

Mr. Chairman, I urge my colleagues to support this amendment and vote ``yes.''

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