A group of Republican Senators is backing legislation meant to block lawmakers from approving inflationary spending during periods when the annualized increase in the consumer price index exceeds 4.5%.
"In the Senate, it shall not be in order to consider a provision in a bill, joint resolution, motion, amendment, amendment between the Houses, or conference report that provides new budget authority and that is estimated to result in an increase in the Consumer Price Index for All Urban Consumers, as published by the Bureau of Labor Statistics, unless the annualized rate of increase in the Consumer Price Index for All Urban Consumers most recently published by the Bureau of Labor Statistics is not more than 4.5 percent," the text of the bill states.
"In the Senate, this section may be waived or suspended only by an affirmative vote of three-fifths of the Members, duly chose and sworn," the bill also states.
The U. S. Bureau of Labor Statistics released a new consumer price index report on Wednesda... (Read more)
Submitted 8 days ago