Economic Stabilization Act

Summary

Economic Stabilization Act - Authorizes the President to issue such orders and regulations as he may deem appropriate to stabilize prices, rents, wages, salaries, profits, dividends, interest rates, and other comparable economic transfers at levels not less than those prevailing on April 30, 1974. States that such orders and regulations shall provide for: (1) the making of such adjustments as may be necessary to prevent gross inequities; (2) wage and salary increases or adjustments, after April 30, 1974, based on the application of cost of living and productivity formulas; (3) price, rent, or interest rate increases or adjustments, after April 30, 1974, based on cost or productivity increases; and (4) profit or dividend increases, after April 30, 1974, attributable to increased productivity, efficiency, or sales or revenues. Provides that the authority to issue and enforce orders and regulations under this Act shall expire at midnight, September 30, 1977, or upon the date provided in a concurrent resolution of Congress, whichever is earlier. Requires that whoever violates any order or regulation under this Act shall be fined not more than $5,000.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 20 November 1974

  Open at official source

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