By: Sarah Arnold
The House passed legislation forcing the Biden White House to release estimates on how much President Joe Biden’s executive orders have affected inflation.
In a 272-148 vote, the GOP-led House passed the Reduce Exacerbated Inflation Negatively Impacting the Nation (REIN IN) Act, requiring the Biden Administration to show if the president’s “major” executive orders would exacerbate inflation before signing them.
“By passing the REIN IN Inflation Act, House Republicans will demand transparency for the American people by revealing how much Biden’s executive orders are costing hardworking families and the painful impact it has on inflation,” House Republican Conference Chair Elise Stefanik (R-NY) said. “This is about transparency for the American people.”
Stefanik, the bill’s sponsor, condemned Biden for costing hardworking American taxpayers over $1 trillion during his first year in office, which hasn’t slowed down since.
“In Joe Biden’s first year in office alone, he issued more executive orders than any president in my lifetime, costing taxpayers more than one trillion dollars,” Stefanik said, adding, “from canceling the Keystone XL pipeline to pushing the out-of-touch and costly ‘Green New Deal’ regulations, it’s past time for Joe Biden to address the price tag of his costly executive orders.”
Since taking office, Biden has signed a whopping 107 executive orders, which Republicans say have made prices skyrocket.
The bill would mandate the Council of Economic Advisers and the Office of Management and Budget to publish a report for any executive action with an estimated economic effect of at least $1 billion.
The bill’s proposal comes two weeks after the Labor Department announced consumer prices increased by 0.5 percent in January and 6.4 percent annually.
Republicans have blamed inflation on Biden’s reckless spending, while the president has continually pinned it on Russia’s invasion of Ukraine.