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S4266119th CongressWALLET

Cost-of-living Emergency Act

Sponsored By: Senator Kelly, Mark [D-AZ]

Introduced

Summary

Declares a national cost-of-living emergency and would create an interbranch, cross‑agency framework to measure, disclose, monitor, and reduce household cost pressures. The bill centers federal attention on everyday expenses and sets up new analytic offices, a congressional commission, and enforcement tools to curb price abuses and boost domestic supply of basic necessities.

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  • Households: Would deliver regular transparency on living costs through quarterly "State of Household Budgets" reports with metrics like median purchasing power and real wage growth net of housing and health costs. It would also require weekly cost‑reduction analyses and at least 3 regional listening sessions per year.
  • Consumers and markets: Would direct the Attorney General and the Federal Trade Commission to run a Joint Task Force to monitor price changes, investigate price gouging and anticompetitive practices, and operate a public portal for reporting suspected unlawful conduct.
  • Industry and Congress: Would authorize Defense Production Act actions such as loans, loan guarantees, purchase commitments, and production subsidies to expand domestic supply of basic household necessities and would form a 12‑member bipartisan congressional Cost‑of‑Living Commission to draft legislative proposals with fiscal analysis.

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Bill Overview

Analyzed Economic Effects

6 provisions identified: 5 benefits, 0 costs, 1 mixed.

Use Defense Production Act for necessities

If enacted, this bill would require the President and covered agency heads to use Title III of the Defense Production Act during the emergency to boost production of basic household necessities. If enacted, allowed actions would include purchase commitments, subsidies to offset costs for domestic raw materials, and loans or guarantees to small and medium firms. Agencies would need a strategic DPA Fund plan within 15 days and must certify that a proposed activity is likely to cut retail or wholesale prices within 180 days before making contracts. The President could act without the usual national defense requirement while agencies monitor supply bottlenecks.

Defines average household and necessities

If enacted, this bill would define "average U.S. household" as a household earning less than the prior years median household income, per the U.S. Census Bureau. If enacted, it would define "basic household necessities" using Bureau of Labor Statistics categories as of January 1, 2026. Those necessities would include food at home, owned and rented dwellings, gasoline and other fuels, medical services, and utilities and public services. These definitions would be used across the bill for analysis, reporting, and emergency actions.

Bipartisan Cost of Living Commission

If enacted, this bill would create a 12-member bipartisan Cost-of-Living Commission in Congress. If enacted, members would be appointed within 14 days and co-chairs would hire a staff director. The Commission would produce a final report with legislative text, a CBO estimate, and hold at least six hearings. Approvals would need a majority that includes at least two Republican- and two Democratic-appointed members. The Commission would publish its report and vote record within 24 hours and end 30 days after filing the final report.

Cost of Living Emergency Office

If enacted, this bill would require the Chair of the Council of Economic Advisers to create a Cost-of-Living Emergency Office within seven days. If enacted, the Chair would appoint Special Advisors for groceries, housing, utilities, health care, transportation, and wages. Each advisor would lead a task force that meets weekly and sends weekly cost-reduction reports. The Office would hold at least three regional listening sessions per year and send a "State of Household Budgets" report every three months with specified affordability metrics.

Joint federal task force on consumer costs

If enacted, the Attorney General and the Chair of the Federal Trade Commission would create a Joint Task Force on Consumer Costs during the emergency. If enacted, the Task Force would monitor retail and wholesale price moves for essentials, investigate price gouging and anticompetitive conduct, and bring joint cases under antitrust and consumer protection laws. It would run a public reporting portal, share evidence with state attorneys general, and report within 60 days and every 90 days after that. The Task Force would end 30 days after the emergency ends.

Household cost statements for major rules

If enacted, this bill would require agencies, during the emergency, to include a household costs impact statement for any major rule sent to OIRA. If enacted, the statement must estimate effects on an average U.S. household, show regional cost differences, estimate benefits to large corporations, and say whether the rule helps households or corporations more. Agencies must publish these statements unless national security prevents disclosure.

Sponsors & CoSponsors

Sponsor

Kelly, Mark [D-AZ]

AZ • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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