S. 415Senate118th Congress (2023-2025)In Committee

Food and Energy Security Act

Sponsored by John ThuneSen. John Thune (R-SD)
Introduced February 14, 2023

AI-Generated Summary

Updated January 20, 2026 at 3:33 AM UTC

The Food and Energy Security Act aims to protect consumers from higher food, electricity, and fuel costs by making federal financial regulators evaluate how their rules affect the prices of these essentials. It requires regulators to publish detailed price‑impact analyses for any proposed or final regulation that could influence capital or investment in agricultural or energy businesses, and it bars rules that would raise prices when overall inflation is already high. The bill mainly impacts federal regulators, agricultural and energy companies, and ultimately consumers.

Key Provisions

  • Defines “agricultural or closely related business” and “energy or closely related business” to include both for‑profit and non‑profit entities involved in production or supply chains.
  • Mandates that any proposed, final regulation or guidance from listed federal regulators must include a detailed estimate of its impact on food, electricity, and fuel prices over 1, 3, 5, and 10‑year periods, with methodology disclosed.
  • Prohibits a regulator from implementing a rule that, based on the required analysis, would increase any of those prices when the latest CPI annualized inflation rate is 4.5% or higher.
  • Specifies that the Act does not affect regulations issued before January 1, 2023.

Legislative Activity

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1 earlier action
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S399)

February 14, 2023

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SenateIntro Referral

Introduced in Senate

February 14, 2023

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S399)

February 14, 2023

Floor Debate

6 members

What members said about S. 415 on the floor

3 Republicans3 Democrats
James P. McGovern
Rep. James P. McGovernD-MA-2 · Jun 21, 2023

Mr. Speaker, I thank the gentleman from Texas for yielding me the customary 30 minutes, and I yield myself such time as I may consume. Mr. Speaker, Republicans are in charge of the House of…

Michael C. Burgess
Rep. Michael C. BurgessR-TX-26 · Jun 21, 2023

Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 524 and ask for its immediate consideration. Mr. Speaker, for the purpose of debate only, I yield the customary 30…

Teresa Leger Fernandez
Rep. Teresa Leger FernandezD-NM-3 · Jun 21, 2023

Mr. Speaker, I too rise in opposition to the rule and the underlying bills. As our ranking member pointed out, these bills do nothing to solve the problems that Americans are asking us to face. For…

Eric Sorensen
Rep. Eric SorensenD-IL-17 · Jun 21, 2023

Mr. Speaker, I stand today in strong support of Social Security and the invaluable role that it plays in the lives of more than 2.2 million people in Illinois and over 150,000 of our neighbors and…

Nicholas A. Langworthy
Rep. Nicholas A. LangworthyR-NY-23 · Jun 21, 2023

Mr. Speaker, five counties in my district have declared a state of emergency in response to the influx of migrants since title 42 ended. These five counties didn't declare a state of emergency out of…

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John Thune
Sen. John ThuneR-SD · Feb 14, 2023

Madam President, I ask unanimous consent that the text of the bill be printed in the Record.

John Thune
Sen. John ThuneR-SD · Feb 14, 2023

Madam President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

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Introduced in SenateIssued February 14, 2023

II

118th CONGRESS

1st Session

S. 415

IN THE SENATE OF THE UNITED STATES

February 14, 2023

Mr. Thune (for himself, Mr. Barrasso, Mr. Braun, Mr. Crapo, Mrs. Fischer, Ms. Lummis, Mr. Mullin, Mr. Risch, and Mr. Rounds) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To provide reliable and evidence-based food and energy security.

1.

Short title

This Act may be cited as the Food and Energy Security Act.

2.

Definitions

In this Act:

(1)

Agricultural or closely related business

The term agricultural or closely related business means a for-profit or not-for-profit entity that is involved in—

(A)

the production of agricultural products or livestock; or

(B)

the supply chain of an entity involved in the production of agricultural products or livestock.

(2)

Energy or closely related business

The term energy or closely related business means a for-profit or not-for-profit entity that is involved in—

(A)

the production, development, or marketing of electricity, fuel (including biofuels), or other related products; or

(B)

the supply chain of an entity involved in the production, development, or marketing of electricity, fuel (including biofuels), or other related products.

(3)

Federal regulator

The term Federal regulator means—

(A)

the Board of Governors of the Federal Reserve System;

(B)

the Office of the Comptroller of the Currency;

(C)

the Federal Deposit Insurance Corporation;

(D)

the Financial Stability Oversight Council;

(E)

the National Credit Union Administration;

(F)

the Bureau of Consumer Financial Protection;

(G)

the Commodity Futures Trading Commission; and

(H)

the Securities and Exchange Commission.

3.

Regulations and guidance

(a)

In general

As part of any public notice of a proposed regulation, final regulation, or guidance that could affect, directly or indirectly, the extension of capital to or investments in an agricultural or closely related business or an energy or closely related business, a Federal regulator shall provide a detailed analysis of the estimated impact the regulation or guidance would have on food prices, electricity prices, and fuel prices, as applicable, including a description of the methodology and variables used in the estimates.

(b)

Contents

The estimated impacts required under subsection (a) shall include how the proposed regulation or guidance would, as applicable, affect—

(1)

food prices (broken down by the applicable expenditure categories listed in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor) over 1 year, 3 years, 5 years, and 10 years;

(2)

electricity prices (broken down by the applicable expenditure categories listed in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor) over 1 year, 3 years, 5 years, and 10 years; and

(3)

fuel prices (broken down by the applicable expenditure categories listed in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor) over 1 year, 3 years, 5 years, and 10 years.

4.

Prohibition

A Federal regulator shall not implement any regulation or guidance that could affect, directly or indirectly, the extension of capital to or investments in an agricultural or closely related business or an energy or closely related business if—

(1)

the analysis of estimated impacts under section 3 estimate that implementation of the regulation or guidance would result in an increase in food prices, electricity prices, or fuel prices; and

(2)

the annualized rate of increase in the Consumer Price Index for All Urban Consumers most recently published by the Bureau of Labor Statistics of the Department of Labor is 4.5 percent or greater.

5.

Rule of construction

Nothing in this Act may be construed as affecting any regulation or guidance of a Federal regulator that was implemented before January 1, 2023.