Economic Stabilization Amendments

Summary

Economic Stabilization Amendments - States that it is the sense of the Congress that decontrol of wages and prices throughout the economy should be achieved as promptly as possible consistent with the need to avert serious hardship or deprivation. Provides that after September 1, 1974, no sector of the economy may be controlled unless the President has made and published in the Federal Register the following findings: (1) that the absence of wage or price controls would lead to serious inflation resulting in serious hardship or deprivation; and (2) that the severity of the hardship or deprivation resulting from such inflation exceeds the need to stimulate additional supply through the wage or price mechanism. Sets forth specified criteria to be used by the President in making such findings. States that not later than August 1, 1974, the President shall submit to Congress a comprehensive proposal providing for the systematic gathering of all data necessary for detailed monitoring of price and wage inflation in specific sectors of the American economy.

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1 official file

• Introduced in Senate

  summary · EN · 5 February 1974

  Open at official source

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