Sunday, May 19, 2024
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Elise Stefanik Wants to Rein in Joe Biden’s Executive Powers

U.S. Rep. Elise Stefanik (R-NY-21) has filed a bill that would, if enacted into law, require President Joe Biden and his staff to estimate the inflationary effects of any major executive order.

By any major executive order, the New York state representative means those with an annual budgetary effect of more than $1 billion.

Stefanik introduced the bill, HR 347, otherwise known as the Reduce Exacerbated Inflation Negatively Impacting the Nation Act, in January.

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Stefanik’s bill would exclude executive orders that provide emergency assistance when requested by a locality or state or are necessary for national security. Under the proposed law, the president would report to Congress about those estimates 180 days after enactment and annually thereafter.

This week members of the Congressional Budget Office (CBO) analyzed Stefanik’s bill.

“On average, over the last 30 years, about 40 executive orders have been issued each year for multiple policies including those related to the federal workplace and managing public land. Under H.R. 347, CBO expects that some future executive orders would require an inflation estimate,” federal agency members said.

“Based on the cost of similar analyses, we expect that each inflation estimate would cost about $100,000 and that, on average, one executive order each year would probably need that analysis. Thus, CBO estimates that the cost of implementing the bill would be less than $500,000 a year but would total about $1 million over the 2023-2028 period; spending would be subject to the availability of appropriated funds.”

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CBO members said they did not know how many future executive orders will have annual budgetary effects of more than $1 billion.

“As a result, the estimated costs could be more or less than CBO estimates,” according to the report.

Last month the CBO released a report that revealed that the federal deficit for 2023 spending totals $1.4 trillion. But, as RVIVR reported, that number is only going to go up.

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