Cost-of-living Emergency Act

This bill would declare a national emergency over the cost of living that ends after 180 days unless Congress extends it by joint resolution. During the emergency, the Council of Economic Advisers would create a White House Cost Cutting Council and appoint six Special Advisors on groceries, housing, utilities, health care, transportation, and wages, and would issue reports on household budgets every 3 months. Federal agencies would have to include household budget impact statements with major regulations, and the Justice Department and Federal Trade Commission would form a joint task force to investigate price gouging and other unfair pricing. The President would be required to use Defense Production Act powers, such as loans, purchase commitments, and subsidies, to expand the supply of basic household necessities, without needing a national defense purpose. The bill would also create a 12-member congressional Cost-of-Living Commission to hold hearings and recommend legislation.

Full text and official record on Congress.gov

Sponsors

• Christopher R. Deluzio Democrat sponsor
• 1 cosponsors