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.
H.R. 8135 declares a national cost-of-living emergency and establishes a coordinated federal response to address rising costs for food, housing, utilities, healthcare, transportation, and wages affecting households earning below the median income. The bill creates six Special Advisors to the President who will lead weekly task forces and hold regional listening sessions, while also establishing a Joint Task Force between the Department of Justice and Federal Trade Commission to investigate price gouging and anticompetitive practices. The legislation authorizes the President to use Defense Production Act funds to increase domestic production of household necessities and provides loans, purchase commitments, and subsidies to small and medium businesses to reduce retail prices within 180 days. A bipartisan 12-member commission with equal Republican and Democratic representation must develop policy recommendations and draft legislation within 180 days, holding at least six public hearings and releasing all findings within 24 hours of approval. The entire emergency framework operates under a 180-day timeline, after which the coordinated response measures expire unless extended.
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