The Cost-of-Living Emergency Act is designed to tackle the escalating cost of living in the United States by declaring it an emergency and implementing measures aimed at alleviating financial burdens on households. Its primary focus is to support low- and middle-income families who are facing challenges in affording essential goods and services. Central to the Act is the establishment of a Cost-of-Living Commission and a White House Cost Cutting Council. These bodies will work to reduce the costs of necessities such as food, housing, utilities, and healthcare.