Senator Blackburn to Introduce Bill to Limit Federal Spending During High Inflation Periods

Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

Tennessee Senator Marsha Blackburn is preparing to introduce legislation that would limit federal spending during high inflationary periods. The bill titled the “Stop Inflationary Spending Act” seeks to raise the vote threshold from 60 to 67 to approve spending packages during high periods of inflation.

The Daily Wire reports:

The proposed bill comes at a time when inflation under President Joe Biden has reached record highs. On Tuesday morning, the Department of Labor announced that wholesale prices have increased a record-setting 9.6% in year-over-year average.

“Tennesseans cannot afford the left’s endless spending spree,” Blackburn said in a statement. “Joe Biden’s radical economic agenda has resulted in decades-high inflation, and in return, the White House and Congressional Democrats have refused to slow their spending. The Stop The Inflationary Spending Spree Act will force them to work on bipartisan solutions instead of forcing through increased spending that will hurt our economy.”

The act would specifically “amend Senate Rule XXII to increase the voting threshold to two-thirds to invoke cloture on general appropriations bills during periods that the Consumer Price Index sits above 4.0%.”

Last week, several economists — including President Barack Obama’s advisor and President Bill Clinton’s for Treasury Secretary Larry Summers — warned that inflation was here to stay and that American consumers could expect to see rising costs over the next couple of years due in part to Biden’s proposed Build Back Better plan

Republican Senators Joni Ernst, Rick Scott, and Roger Marshall are expected to join Sen. Balckburn on the legislation.

Stop Inflationary Spending Act FINAL

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