Bill: Rejected Inflation Reduction Act

[nanicholls]

A
BILL
To
Control Rapidly Increasing Inflation

The people of the Commonwealth of Redmont, through their elected Representatives and Senators in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title and Enactment

1. This Act may be cited as the “Inflation Reduction Act”.
2. This Act shall be enacted immediately upon its signage,
3. Authored by Nanicholls
4. Co-Sponsored by Tonga1

2 - Reasons

1. Economic Stats Show Redmont is experiencing a period of rapid inflation.
2. With Government spending at an all time high, we need to cut back.

3 - Terms

1. Non-Essential Spending - Spending that is not necessary or required, such as on departmental projects, new buildings or maintenance of existing structures.
2. Essential Spending - Spending that is required by law, such as settlement for a court case, Universal Basic Income or Staff Wages.

4 - CRB Interest and Inflation Rate Policy

1. To direct the CRB to immediately develop a policy surrounding interest rates in private and public banking.
2. To direct the CRB to develop a report on how the bank can use interest rates on public and private loans to curb inflation through contractionary monetary policy.
   1. To request that this report is completed no more than 30 days after the signage of this bill.
3. To direct the CRB, in coordination with the Commerce department to come up with a targeted inflation rate that accounts for both sustainable growth, as well as sustainable prices.

5 - Farm Plot Expansion Grant

1. To direct the Secretary of Commerce to set up a forum for a “Farm Plot Expansion Grant”.
2. The Farm Plot Expansion Grant will be opened for applications starting 48 hours after the signage of this bill.
3. The requirements for the Grant are:
   1. The business or individual must be able to prove they are a food provider,
   2. The business or individual must be able to prove they own a lot that they grow food on,
   3. The business or individual must be able to prove that they will spend the grant allocation on expanding operations and improving supply chains.
4. The grant will be set at $75,000, allocated from the Department of Commerce, with no individual or business receiving more than $5,000.
5. 14 days after the Grant is transferred to the individual, the Department of Commerce is to inspect the individual's property to ensure the grant has been used for immediate purposes of ramping up food production.

6 - Implementation

1. This bill will go into effect immediately upon signage from the President.