Definitions

In this Act: (1) Average U.S. household The term average U.S. household means a household in the United States earning less than the median household income for the prior year, as determined by the United States Census Bureau. (2) Basic household necessities The term basic household necessities includes the following expenditures, as defined by the Bureau of Labor Statistics on January 1, 2026: (A) Food at home. (B) Owned dwellings. (C) Rented dwellings. (D) Gasoline and other fuels. (E) Medical services. (F) Utilities, fuels, and public services. (3) Co-chair The term co-chair means an individual appointed to serve as a co-chair of the Commission under section 8(a)(3)(B). (4) Commission The term Commission means the Cost-of-Living Commission established under section 8(a)(1). (5) Council The term Council means the Council of Economic Advisers established under section 10 of the Employment Act of 1946 (15 U.S.C. 1023). (6) Large corporation The term large corporation means any business that is not a small business concern, as defined in section 3 of the Small Business Act (15 U.S.C. 632). (7) Outside expert The term outside expert means an individual who is not an elected official or an officer or employee of the Federal Government or of any State. (8) Special Advisor The term Special Advisor means any individual appointed to the role of Special Advisor to the President under section 4(3)(A). (9) State The term State means a State, the District of Columbia, the Commonwealth of Puerto Rico, and any other territory or possession of the United States.