Republicans Look to Curb Biden’s ‘Reckless Policies Fueling Inflation’

GOP’s REIN IN Act would require Biden administration to report executive orders’ inflationary impacts Rep. Elise Stefanik, N.Y. and other Republicans / Getty Images

House Republicans have taken aim at President Joe Biden’s inflationary executive order and are holding a vote next week to pass legislation that would restrict the president’s ability implement costly proposals.

The billThe Reduce Exacerbated inflation Negatively Improving the Nation (REIN INS) Act would require that the Biden administration report inflationary effects of executive order before Biden issues them. Fox News reported. Rep. Elise Stefanik (R.N.Y.) introduced the legislation. It would apply to orders that result in an annual cost greater than $1 billion.

Republicans cited a variety of inflationary executive orders by Biden, including the Keystone XL Pipeline Shutdown, climate policies that hamper domestic energy production, as well as Biden’s $400B student loan bailout.

“Joe Biden and his administration have doubled down on their Far-Left tax and spend agenda that has continued to exacerbate this inflation crisis,” said Stefanik. She stressed the need to examine the Biden administration. “reckless policies fueling inflation.”

The Labor Department reported that consumer prices increased by 6.4 percent annually in January. reported This was an increase of 1.4 percentage since Biden’s election.

Biden’s controversially labelled bill is the basis for the proposed bill. Inflation Reduction Act of 2022, which was primarily concerned with enacting left-wing policies in the environment. Biden celebrated this legislation in a Speech In September 2022, it will be called “the single most important legislation passed in [this] Congress to combat inflation and one of the most significant laws in our nation’s history.”