“Skyrocketing prices are the single most common concern I hear from my constituents” Emmer said. “Americans are paying more for essentials everywhere from the grocery store to the gas pump, and working families are hit the hardest.”
“Like many of my colleagues, I believe one of the major causes of the inflation we have been seeing is runaway government spending – and many economists share that concern,” Emmer continued. “Regardless of whether every Member of Congress agrees with me or not, we owe it to the American people to identify the root cause and begin to address the problem. This bill does just that.”
The Inflation Working Group Act establishes a 17-member body tasked with investigating the recent causes of elevated inflation, as well as the relationships between inflation and gross domestic product growth; the labor market, workforce development, and hiring; poverty; crime; and other factors of major societal concern.
Eight members of the Inflation Working Group would be appointed by Republican congressional leaders, and eight members would be appointed by their Democratic counterparts. A chairperson would be jointly appointed by Republican and Democratic leaders.
The Inflation Working Group would be required to submit a report to the President and Congress with the results of its investigations and recommendations for actions to mitigate the threat of sustained inflation.
The Inflation Working Group would be paid for with existing congressional funds.
Read the text of the bill here.