A resolution expressing the sense of the House of Representatives that the President of the United States should announce a state of economic emergency and take certain actions to reduce the rate of inflation, that the House of Representatives Committee on the Judiciary should, without delay, report a joint resolution proposing a constitutional amendment to assure fiscal responsibility, and that the members of the Federal Reserve Board should increase their regulation of the monetary system.

Summary

Expresses the sense of the House of Representatives that: (1) the President should declare a state of economic emergency and submit a plan to the Congress for attacking inflation; (2) the Committee on the Judiciary of the House of Representatives should report a resolution proposing a constitutional amendment to balance the budget and/or limit Federal expenditures; (3) the President should amend the proposed fiscal year 1981 budget to limit spending to anticipated receipts; and (4) the President and the Board of Governors of the Federal Reserve System should implement a program to tighten credit and limit the growth of the money supply.

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1 official file

• Introduced in House

  summary · EN · 3 March 1980

  Open at official source

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