(a) Findings.—The Congress finds that—“(1) the power of Federal agencies to impose civil monetary penalties for violations of Federal law and regulations plays an important role in deterring violations and furthering the policy goals embodied in such laws and regulations;
“(2) the impact of many civil monetary penalties has been and is diminished due to the effect of inflation;
“(3) by reducing the impact of civil monetary penalties, inflation has weakened the deterrent effect of such penalties; and
“(4) the Federal Government does not maintain comprehensive, detailed accounting of the efforts of Federal agencies to assess and collect civil monetary penalties.
“(b) Purpose.—The purpose of this Act is to establish a mechanism that shall—“(1) allow for regular adjustment for inflation of civil monetary penalties;
“(2) maintain the deterrent effect of civil monetary penalties and promote compliance with the law; and
“(3) improve the collection by the Federal Government of civil monetary penalties.
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