Council on Wage and Price Stability Act

Summary

Council on Wage and Price Stability Act - Authorizes the President to establish a Council on Wage and Price Stability. Sets forth the duties and membership of such Council. Provides that such Council shall: (1) review and analyze industrial capacity, demand, and supply in various sectors of the economy, working with the industrial groups concerned and appropriate governmental agencies to encourage price restraint; (2) work with labor and management in the various sectors of the economy having special economic problems, as well as with appropriate government agencies, to improve the structure of collective bargaining and the performance of those sectors in restraining prices; (3) improve wage and price data bases for the various sectors of the economy to improve collective bargaining and encourage price restraint; (4) conduct public hearings necessary to provide for public scrutiny of inflationary problems in various sectors of the economy; (5) focus attention on the need to increase productivity in both the public and private sectors of the economy; (6) monitor the economy as a whole by acquiring, as appropriate, reports on wages, cost, productivity, prices, sales, profits, imports, and exports; and (7) review and appraise the various programs, policies, 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 inflation. Provides that the Council shall report to the President, and through him to the Congress, from time to time, concerning its activities, findings, and recommendations with respect to the containment of inflation and the maintenance of a vigorous and prosperous peacetime economy. Authorizes to be appropriated an amount not to exceed $1,000,000 for the fiscal year ending June 30, 1975, to carry out the purposes of this Act. Terminates the authority granted by this Act on June 30, 1976.

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Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 25 August 1974

  ViewDownloadOpen at official source

• Public Law

  summary · EN · 24 August 1974

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• Introduced in Senate

  summary · EN · 15 August 1974

  Open at official source

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