Latta Statement Supporting House Passage of REIN IN Inflation Act
Today, Congressman Bob Latta (R-OH5) released the following statement after voting in favor of the Reduce Exacerbated Inflation Negatively Impacting the Nation (REIN IN) Inflation Act, which would require the Biden Administration to publish the inflationary impact of executive orders before enacting them:
“Due to skyrocketing inflation, families, farmers, and manufacturers in Ohio’s Fifth District have been forced to pay more for everyday goods and services. The Biden Administration’s unilateral actions – including a reckless tax and spend agenda – have fueled the flames of this crisis and made life unaffordable for many. That is why I voted in favor of the REIN IN Inflation Act, which will provide the American people much-needed transparency into the Administration’s inflation inducing policies.
“While this is a good first step for accountability and fiscal-responsibility, Congress must now work to rein in the out-of-control federal spending that is shouldering our children and grandchildren with insurmountable debt.”
Background on the REIN IN Inflation Act:
This bill would require the Chairman of the Council of Economic Advisors (CEA) and Office of Management and Budget (OMB) to prepare a report including the inflationary effects for any executive action with an estimated impact of at least $1 billion. The White House would then have to report these findings to Congress each year to increase transparency and accountability over executive actions.