Republicans in both the House and Senate have introduced a bill that would ban legislation that is estimated to raise inflation until the rate drops below 4.5%.
On the House side, the bill, known as the Inflation Prevention Act, was introduced Thursday by Rep. Mike Garcia, R-Calif.
''All across America, hardworking Americans are concerned with the rising costs of basic goods because of reckless government spending,'' Garcia said in a press release. ''I am proud to lead my colleagues in Congress in introducing the Inflation Prevention Act to help alleviate the inflation crisis for American families through practical barriers limiting out-of-control government spending.
''We must put an end to this now and get America back on track,'' he said.
An identical bill with the same name was introduced in the Senate on Jan. 13 by Sens. Marco Rubio, R-Fla., and Tim Scott, R-S.C., among other co-sponsors in the upper chamber.
''Everyday Americans could care less about a lot of the issues we have been discussing lately in the Senate,'' Rubio said. ''What people are really worried about is the fact that it costs more to feed their families and put gas in their cars. People can't get basic goods because grocery store shelves are empty.
''And rather than fixing the problem, the Biden Administration and Democrats in Congress are making things worse. This bill puts a few commonsense guardrails in place to curb reckless spending habits in Congress that threaten to create even more challenges for American families,'' he said.
The legislation comes as Democrats continue to try to pass President Joe Biden's $2 trillion Build Back Better Act, a budget reconciliation bill with a number of key Democratic agenda items such as expanded health care, free college tuition, and several policies to address climate change.
While Democratic Sens. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona both said they would not support the legislation in its current form, effectively killing the bill, Biden said this week that ''huge chunks'' may be passed separately.
''I'm confident we can get pieces, big chunks of the Build Back Better law signed into law,'' Biden said in a lengthy press conference Wednesday.
As Democrats continue to push for that and other legislation, inflation rose to a 31-year high of 7% in December, according to the Bureau of Labor Statistics.
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