The House on Wednesday passed a bill that, if enacted, would require federal agencies to analyze the inflationary impact of executive orders issued by the president.
It comes in response to President Biden’s executive actions that critics say have worsened inflation — in particular, his cancellation of the Keystone XL pipeline shortly after taking office, his proposed $400 billion student loan handout that’s the subject of pending cases before the Supreme Court and his extensions of the pause on student loan repayments to the tune of about $5 billion per month.
“As every hardworking family is forced to pay more for almost everything due to Bidenflation, I am proud to pass my bill, the REIN IN Inflation Act, to hold the Biden administration accountable for their reckless spending causing prices to skyrocket,” said lead sponsor Rep. Elise Stefanik, R-N.Y., following the vote.
House Financial Service Committee Chairman Patrick McHenry, R-N.C., added, “Rising prices continue to make everyday life unaffordable for families and workers across America. From the student loan scam, to limiting domestic energy production, to regulatory overload, President Biden’s reckless executive actions have fueled the financial pain felt by hardworking Americans.”
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Article URL : https://www.foxbusiness.com/politics/house-passes-bill-rein-in-executive-orders-worsen-inflation