I yield 1 minute to the gentleman from New York (Mr. Jeffries), the distinguished minority leader.

In my state of Maryland, we're experiencing lots of costs and impacts from climate change and sea level rise.

I claim the time in opposition. The Acting CHAIR: The gentleman from Maryland is recognized for 5 minutes.

I thank the distinguished gentlewoman from Minnesota for yielding. Just to recap where we are from yesterday, the whole Congress eagerly awaited to hear what the big anti-inflation initiative would be coming from the GOP side of the aisle…

I thank the gentleman for introducing his amendment, which would add yet another reporting dimension to this already wasteful, bureaucratic paperwork exercise when what the American people need, deserve, and are getting from the Biden…

I would like to say a word about China, who actually has a ten-year lead on the United States...

Due to testing positive for COVID-19 and following recommended isolation protocols, I was unable to vote today. Had I been present, I would have voted ``nay'' on rollcall no. 122, ``nay'' on rollcall no. 123, and ``nay'' on rollcall no…

I think one of the purposes of this and other hearings is just to underscore the cost of inaction and doing nothing.

Reclaiming my time, this very constructive colloquy, I think, underscores the importance of actually having hearings in Congress. This is legislation that sprung out of someone's head somewhere and then appeared on the House floor without…

I think we all recognize that we have to put sanctions in context that it is one tool but a very important tool.

I agree with you, we should be steadily reducing the cap, tightening the cap, because I think there is still a long way to go to get to that marginal cost of production for Russia.

I would ask if the gentleman would be willing to yield for a couple of questions? Again, there was no hearing in committee, so I don't understand this. This might be a great idea, but I would like to figure it out. It requires that any…

So that is true across the board in terms of all of the economic indicators that we read about, whether it is the OMB or the-- --

I think we all recognize that we have to put sanctions in context that it is one tool but a very important tool.

I just repeat my puzzlement from before. Perhaps if Mr. Cloud would yield for another question. What is the inflationary impact of debt servicing costs? Have there been any economic studies on that? Madam Chair, I yield to the gentleman…

I want to just clear up a couple of things. First, I heard the very distinguished gentlewoman from Colorado mention job creators. I assume she was responding to President Biden since 12 million new jobs have been created under President…

The first thing I want to note about this amendment is that it now expands the definition of a major executive order to include those projected to cause an annual gross budgetary or economic effect of at least $1 billion, which includes…

I reclaim my time and thank the gentleman for his kind answers. This really is why we have hearings in Congress, because it feels like we are just posting a lot of graffiti on a wall here. I don't know how the inflation rate is calculated…