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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Mar 7, 2022.
Preventing Runaway Inflation in Consumer Expenditures Act or the PRICE Act
This bill establishes a point of order that prohibits the Senate from considering legislation that would cause a net increase in outlays unless the Congressional Budget Office certifies that inflation is below 3%. The point of order may be waived by an affirmative vote of three-fifths of the Senate.
