Economic Growth and Price Stability Act of 1997

Summary

Economic Growth and Price Stability Act of 1997 - Amends the Federal Reserve Act to repeal the mandate of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to maintain long run growth of monetary and credit aggregates in order to promote maximum employment, stable prices, and moderate long-term interest rates. Replaces such mandate with a mandate to: (1) establish an explicit numerical definition of "price stability"; and (2) maintain a monetary policy that effectively promotes long-term price stability. Repeals the mandate of the Board and the Committee to report biannually to the Congress on national economic trends, taking into account unemployment, investment, and productivity. Replaces such mandate with a mandate to consult semiannually with the Congress and report on their plans and the time required to achieve price stability. Repeals the Full Employment and Balanced Growth Act of 1978 (Humphrey-Hawkins Act). Amends the Employment Act of 1946 and the Congressional Budget Act of 1974 to reflect the provisions of this Act.

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Timeline

1. 17 April 1997

   Introduced

   Introduced in House

   Source: IntroReferral

2. 17 April 1997

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 April 1997

   Introduced

   Referred to House Banking and Financial Services

   Source: IntroReferral

4. 17 April 1997

   Introduced

   Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

5. 2 May 1997

   Referred

   Referred to the Subcommittee on Postsecondary Education, Training and Life-Long Learning.

   Source: Committee

6. 16 May 1997

   Referred

   Referred to the Subcommittee on Domestic and International Monetary Policy.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 April 1997 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 April 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 April 1997

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 17 April 1997

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Saxton, Jim [R-NJ-3] · R · Sponsor
• Rep. Smith, Nick [R-MI-7] · R · Sponsor
• Rep. Kolbe, Jim [R-AZ-8] · R · Sponsor
• Rep. Peterson, John E. [R-PA-5] · R · Sponsor
• Sen. Graham, Lindsey [R-SC] · R · Sponsor
• Rep. McCollum, Bill [R-FL-8] · R · Cosponsor
• · hsba00 · Standing
• · hsed00 · Standing
• · hsbu00 · Standing

Related records

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