1. Short title This Act may be cited as the Inflation Prevention Act of 2023 . 2. Point of order against spending that will increase inflation until inflation is not greater than 4.5 percent (a) Point of order in the Senate (1) In general In the Senate, it shall not be in order to consider a provision in a bill, joint resolution, motion, amendment, amendment between the Houses, or conference report that provides new budget authority and that is estimated to result in an increase in the Consumer Price Index for All Urban Consumers, as published by the Bureau of Labor Statistics, unless the annualized rate of increase in the Consumer Price Index for All Urban Consumers most recently published by the Bureau of Labor Statistics is not more than 4.5 percent. (2) Point of order sustained If a point of order is made by a Senator against a provision described in paragraph (1), and the point of order is sustained by the Chair, that provision shall be stricken from the measure and may not be offered as an amendment from the floor. (3) Form of the point of order A point of order under subsection (a)(1) may be raised by a Senator as provided in section 313(e) of the Congressional Budget Act of 1974 ( 2 U.S.C. 644(e) ). (4) Conference reports When the Senate is considering a conference report on, or an amendment between the Houses in relation to, a bill or joint resolution, upon a point of order being made by any Senator pursuant to subsection (a)(1), and such point of order being sustained, such material contained in such conference report or House amendment shall be stricken, and the Senate shall proceed to consider the question of whether the Senate shall recede from its amendment and concur with a further amendment, or concur in the House amendment with a further amendment, as the case may be, which further amendment shall consist of only that portion of the conference report or House amendment, as the case may be, not so stricken. Any such motion in the Senate shall be debatable. In any case in which such point of order