Housing and Community Development
Cost-of-living Emergency Act
- Introduced
- Committee
- House
- Senate
- President
- Law
- Introduced
- March 27, 2026
- Sponsor
- · D–PA
- Recorded roll calls
- None recorded
Referred to the Committee on Financial Services, and in addition to the Committees on Education and Workforce, Energy and Commerce, the Judiciary, the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Read FactVote summary
The bill would declare an emergency concerning the high cost of living, generally ending 180 days after enactment unless extended by joint resolution. During the emergency, it would direct the Council of Economic Advisers to establish a White House Cost Cutting Council, appoint special advisers, issue household budget reports, and require household budget impact statements for major regulatory actions. It would also create a Department of Justice–Federal Trade Commission task force addressing price gouging and require use of Defense Production Act authorities to expand the supply of basic household necessities. A congressional Cost-of-Living Commission would develop recommendations, reports, and legislative language, with specified deadlines and bipartisan approval requirements.
FactVote-generated overview; it is not an official CRS summary.