Nick Langworthy: “This amendment defines a ``significant impact on inflation'' as only an impact that would increase or decrease the…”

“This amendment defines a ``significant impact on inflation'' as only an impact that would increase or decrease the Consumer Price Index by at least 1 percentage point. With all due respect, that is magical thinking. If a single executive order were to produce a full 1 percentage point increase in inflation, that would not be just a significant effect; it would be a massive effect. The Bureau of Labor Statistics' inflation data from January 23, 2023, showed that the Consumer Price Index rose 6.4 percent over the prior year. A 1 percent point rise would constitute 16 percent of that yearly rise. That is a huge portion of yearly inflation. Few individual executive orders, even ones that stoke inflation significantly, would on their own raise inflation by 1 full percentage point or more. What the amendment really is trying to do is gut the bill. Madam Chair, I urge my colleagues to vote ``no'' on this amendment, and I reserve the balance of my time.”