About the bill
The difference between Tom Brady and Joe Biden? With Tom Brady, you never had to worry about inflation.
The current U.S. inflation rate is 7.04 percent, or the level at which prices of goods and services have increased over the preceding 12 months. That’s the highest rate since June 1982.
Multiple simultaneous factors are contributing to that statistic, including supply chain snags, a shortage of truck drivers, and wages increasing in 2021 at the highest rate since 1983. But critics of higher government spending say that another major factor is federal government spending.
In fiscal year 2021, federal spending soared to approximately $7.2 trillion, or about 16.7 percent of GDP. The latter number marked a new all-time record outside of wartime.
Sponsor and status
Sponsor. Senator for South Carolina. Republican.
Last Updated: Jan 12, 2022
Length: 4 pages
117th Congress (2021–2023)
This bill was introduced on January 12, 2022, in a previous session of Congress, but it did not receive a vote.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
13 Cosponsors (13 Republicans)
Jan 12, 2022
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
S. 3495 (117th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number S. 3495. This is the one from the 117th Congress.
This bill was introduced in the 117th Congress, which met from Jan 3, 2021 to Jan 3, 2023. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
GovTrack.us. (2023). S. 3495 — 117th Congress: Inflation Prevention Act. Retrieved from https://www.govtrack.us/congress/bills/117/s3495
“S. 3495 — 117th Congress: Inflation Prevention Act.” www.GovTrack.us. 2022. April 1, 2023 <https://www.govtrack.us/congress/bills/117/s3495>
Inflation Prevention Act, S. 3495, 117th Cong. (2022).
|title=S. 3495 (117th)
|accessdate=April 1, 2023
|author=117th Congress (2022)
|date=January 12, 2022
|quote=Inflation Prevention Act
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Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.