Concentrated Industries Anti-Inflation Act

Summary

Concentrated Industries Anti-Inflation Act - Establishes the Price Restraint Board composed of five members appointed by the President, by and with the advice and consent of the Senate. Directs the Board to issue standards and guidelines for noninflationary industrial price adjustments. Establishes three categories of firms based on the dollar value of sales controlled by a firm. Applies the measures of this Act to firms according to category. Requires the Board to prepare, or have prepared, for monthly publications a weighted index of the prices of the products of concentrated industries. Directs the Board, when necessary to carry out the purposes of this Act, to issue orders and regulations: (1) requiring prenotification of price increases; (2) delaying proposed price increases; (3) disapproving proposed price increases; or (4) rolling back prices, with respect to products of firms in concentrated industries. Limits to 60 days the duration of an order to delay proposed price increases. Establishes threshholds for the issuance of orders delaying, disapproving, or rolling back price increases. Expresses such threshholds in terms of increases in the monthly indexes of prices of products of concentrated industries. Requires firms in the two most concentrated categories to notify the Board in advance of any intended price adjustments. Specifies the procedures for such notification. Requires the Board to report to Congress at three-month intervals on the implementation of this Act. Authorizes the President to initiate negotiations with labor concerning voluntary pay guideposts. Directs the Board to study the methods employed by major corporations in setting prices.

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1 official file

• Introduced in House

  summary · EN · 29 June 1978

  Open at official source

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