Description: TO SUSPEND THE RULES AND PASS S. 3912, ESTABLISHING A COUNCIL ON WAGE AND PRICE STABILITY.
Bill summary: (LATEST SUMMARY)
Council on Wage and Price Stability Act - Authorizes the President to establish, within the Executive Office of the President, the Council on Wage and Price Stability. Sets forth the membership composition of the Council.
Requires the Council to: (1) review and analyze industrial capacity, demand, supply, and the effect of economic concentration and anticompetitive practices and supply in various sectors of the economy; (2) work with labor and management to improve the
structure of collective bargaining and the performance of those sectors in restraining prices; (3) conduct public hearings necessary to provide for public scruting of inflationary problems in various sectors of the economy; (4) focus attention on the need to increase productivity in both the public and private sectors of the economy; (5) monitor the economy as a whole; and (6) review and appraise the various programs, policies, and activities of the departments and agencies of the United States for the purpose of determining the extent to which those programs and activities are contributing to inflation.
Requires the Council to report to Congress, through the President, concerning its activities, finding, and recommendations with respect to the containment of inflation and the maintenance of a vigorous and prosperous peacetime economy.
Authorizes the appropriation of not in excess of $1,000,000 for fiscal year 1975 to carry out the purposes of this Act.
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Bill titles: An original bill to authorize the establishment of a Council on Wage and Price Stability.
Original source documents: Digest of the Congressional Record vol. 120-128, p. H8756;
Links for more info on the vote: congress.gov