Council on Wage and Price Stability Act Amendments

Summary

Council on Wage and Price Stability Act Amendments - Authorizes the Council on Wage and Price Stability, under the Council on Wage and Price Stability Act, to require periodic reports and to issue subpenas for the attendance and testimony of witnesses and the production of information relating to wages, prices, costs, profits, and productivity by product line. Provides that information obtained under this Act shall be made available to the public unless the Council determines that public disclosure would impose an undue competitive disadvantage on the person submitting such information. Authorizes the Council to require any person having gross sales or revenues in excess of $250,000,000 during its most recent fiscal year to submit a prenotification to the Council with respect to any price increase of any product of service not more than 30 days prior to the effective date of such increase. Declares that the Council may require any person who grants a wage increase affecting more than 5,000 employees to submit a prenotification of such increase not more than 30 days prior to the effective increase date. Gives the Council the authority to delay any price or wage increase which the Council determines inflationary. Provides that the Council may request the Attorney General to bring an action to enjoin any act or practice which constitutes a violation of any requirement imposed by the Council on Wage and Price Stability Act. Extends the life of the Council to September 30, 1977, and increases the sum authorized to be appropriated to the Council from $1,000,000 to $4,000,000 for each fiscal year.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 11 March 1975

   Introduced

   Referred to House Committee on Banking, Currency and Housing.

   Source: IntroReferral

2. 11 March 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 March 1975

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 11 March 1975

  Open at official source

Sponsors

• Rep. Ashley, Thomas L. [D-OH-9] · D · Sponsor
• · hsba00 · Standing

Related records

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