Estimated read time: 2-3 minutes
- Sen. Mike Lee proposes a constitutional amendment to remove Congress members if inflation exceeds 3%.
- The proposal has support from figures like Elon Musk and revives Warren Buffett's idea.
- The amendment's feasibility is uncertain.
WASHINGTON — Sen. Mike Lee, R-Utah, said he would introduce a constitutional amendment that would remove all members of Congress "whenever inflation exceeds 3%," or the deficit exceeds 3% of the gross domestic product, a proposal that has garnered support from figures such as multibillionaire Elon Musk .
Under the proposal, lawmakers would be ineligible for reelection if the federal deficit increases above 3% of GDP, reviving a suggestion from Warren Buffett more than 10 years ago suggesting he could "end the deficit in five minutes" by disqualifying lawmakers based on the nation's economic well-being.
"It's better to disqualify politicians than for an entire nation to suffer under the yoke of inflation," Lee wrote in a post on X. "Please let me know what you think. And share if you like the idea."
Musk later reposted Lee's proposal, stating: "This is the way."
It's unknown when Lee could propose such an amendment, and it's not clear how much support he could garner among members of Congress. Some lawmakers could suggest it would be too complicated to remove all lawmakers from office at once depending on fluctuating inflation rates.
The suggestion comes as the annual inflation rate lowered to 2.3% in April, the lowest rate since February 2021. But the inflation rate hovered at about 3% multiple times last year, according to the Bureau of Labor Statistics.
Inflation rates were as high as 8.5% in 2022, raising concerns among fiscal conservatives in Congress. Lee has been among the most vocal about the national deficit, urging Republicans to submit massive changes to President Donald Trump's tax reconciliation bill to slash spending for a slate of government programs.
Lee is among a handful of Senate Republicans who oppose the current reconciliation package as it is currently written, arguing it does not go far enough to reduce the national deficit.
"Federal spending has become excessive. The resulting inflation harms Americans and weaponizes government," Lee wrote in a post on X. "The Senate can make this bill better. It must now do so."
The Senate is set to vote on the reconciliation package in the coming weeks, with Republican leaders pushing to get the bill to Trump's desk before the Fourth of July. However, challenges remain as Republicans internally disagree on which programs to scale back on spending.
