Economic Review Act

Summary

Economic Review Act - Directs the President to establish an Economic Review Board, to be composed of not more than five members appointed by the President by and with the advice and consent of the Senate. Authorizes the Economic Review Board, by regulation or order, to obtain such information from, require such reports, and to keep such records by, make such inspections of the books, records, and other writings, premises, or property of, take the sworn testimony of, and administer oaths and affirmations to, any person as may be necessary or appropriate. Provides that upon a finding, based on information obtained under the provisions of this Act, that a wage or price increase is likely to have widespread injurious effects on the economy, the Economic Review Board is authorized to issue an order delaying the implementation of such increase for a period not to exceed sixty days. Provides that upon the request of any person affected by an order of the Board under this Act, or if the Board determines that it would contribute to carrying out the objectives of this Act, the Board may hold hearings on the wage or price increase, conducted with such notice, under such regulation, and subject to such review as the Board determines appropriate. Authorizes the Board to review and appraise the various programs 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 the rate of inflation. Authorizes to be appropriated an amount not to exceed $10,000,000 for each fiscal year to carry out the provisions of this Act.

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

Timeline

1. 15 August 1974

   Introduced

   Referred to Senate Committee on Banking, Housing and Urban Affairs.

   Source: IntroReferral

2. 15 August 1974

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 15 August 1974

  Open at official source

Sponsors

• Sen. Javits, Jacob K. [R-NY] · R · Sponsor
• · ssbk00 · Standing

Related records

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