H.R.2287 - Protecting Families from Inflation Act (119th Congress)
Summary
H.R.2287, the "Protecting Families from Inflation Act," directs the Federal Reserve to study the impact of U.S. tariffs since 2017 on the cost of goods and services for consumers and small businesses. The bill requires the Federal Reserve to submit a report to Congress within 270 days of enactment detailing the study's findings. The bill is sponsored by Ms. Bynum, Mr. Fields, and Mr. Liccardo and was introduced in the House of Representatives on March 24, 2025, before being referred to the Committee on Ways and Means.
The bill aims to assess the inflationary effects of tariffs imposed by the United States. The study would provide data to inform future policy decisions related to trade and tariffs.
Expected Effects
If enacted, H.R.2287 would compel the Federal Reserve to conduct a comprehensive analysis of the inflationary impact of tariffs. This analysis could lead to a better understanding of how trade policies affect consumer prices and small business costs.
The resulting report could influence future trade policy decisions, potentially leading to adjustments in tariff strategies. These adjustments could be aimed at mitigating inflationary pressures on American families and businesses.
Potential Benefits
- Provides data-driven insights into the actual impact of tariffs on consumer goods and services.
- Could lead to more informed trade policy decisions, potentially reducing inflationary pressures.
- May help small businesses better understand and navigate the costs associated with tariffs.
- Could result in policies that protect families from the negative economic effects of inflation.
- Promotes transparency and accountability in trade policy by requiring a public report.
Potential Disadvantages
- The study may take significant time and resources for the Federal Reserve to complete.
- The report's findings could be subject to political interpretation and debate.
- There is no guarantee that the report will lead to concrete policy changes.
- The study focuses solely on tariffs and may not capture other factors contributing to inflation.
- The 270-day deadline for the report might be insufficient for a comprehensive analysis.
Constitutional Alignment
The bill aligns with the constitutional powers of Congress to regulate commerce with foreign nations (Article I, Section 8, Clause 3). It also falls under Congress's power to oversee the Federal Reserve and ensure economic stability. The requirement for a study and report to Congress is consistent with the legislative branch's role in informing policy decisions through research and analysis.
There are no apparent constitutional conflicts, as the bill does not infringe on individual rights or freedoms. The bill's focus on economic analysis and reporting falls within the scope of legislative oversight and does not appear to violate any specific constitutional provisions.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).