Cost-of-living Emergency Act

This bill declares a national emergency over the cost of living that would end after 180 days unless Congress passes a joint resolution to extend it. During the emergency, the Council of Economic Advisers would set up a Cost-of-living Emergency Office and appoint six Special Advisors on groceries, housing, utilities, health care, transportation, and wages, and would issue a household budget report every 3 months. Federal agencies would have to include household cost impact statements with major regulations, and the Justice Department and Federal Trade Commission would form a joint task force on price gouging. The President would be required to use Defense Production Act powers to expand the supply of basic household needs, and Congress would create a 12-member Cost-of-Living Commission to recommend policies.

Full text and official record on Congress.gov

Sponsors

• Mark Kelly Democrat sponsor
• 0 cosponsors