IV 116th CONGRESS 2d Session H. RES. 1049 IN THE HOUSE OF REPRESENTATIVES July 16, 2020 Mr. Kevin Hern of Oklahoma (for himself, Mr. Budd , Mr. Norman , Mr. Flores , Mr. Baird , Mr. Watkins , Mr. Bishop of North Carolina , Mr. Collins of Georgia , and Mr. Meuser ) submitted the following resolution; which was referred to the Committee on Financial Services RESOLUTION Recognizing the duty of the House of Representatives to condemn Modern Monetary Theory and recognizing that the implementation of Modern Monetary Theory would lead to higher deficits and higher inflation.