A concurrent resolution relative to national economic emergency.

Summary

Declares that an emergency situation exists with respect to the problems of inflation, unemployment and the danger of recession, and resolves to attempt to reform existing policies and establish new policies that will reduce inflation, unemployment and recession, as well as other economic ills, or ease the effects thereof. Charges the Joint Economic Committee ("JEC"), with the assistance of the Advisory Board described herein with the duties of: (1) assessing the state of the economy and determining the principal causes of the current inflation, unemployment and recession; (2) to the maximum extent possible, drafting legislative recommendations and other recommendations to reduce inflation, unemployment and recession, both now and in the future, and reporting such recommendations to the Majority and Minority leaders of both Houses of Congress; (3) determining what long-range studies are necessary to improve Congress' understanding of and ability to deal with the problems of inflation, unemployment and recession and other major economic ills; and (4) reviewing and making recommendations with respect to the process by which both Congress and the executive formulate and execute economic policy. Directs the JEC to appoint an Advisory Board composed of not less than 20 nor more than 30 economists, businessmen and other experts in such areas, as fiscal policy, monetary policy, taxation, labor and manpower, foreign trade, military spending, trade regulation, protection of competition, and allocation and conservation of food, energy and other critical resources. Charges the Majority and Minority leaders of the Senate and House of Representatives with the duties of: (1) receiving legislative recommendations made by the JEC pursuant to this Concurrent Resolution, and (2) attempting to establish procedures which would ensure that such legislative recommendations are referred for committee consideration in a manner which would expedite, to the greatest extent possible, such committee consideration and reporting of such proposed legislation to the Senate and House of Representatives, and permit, to the greatest extent possible, participation in such committee consideration of Senators and Congressmen familiar with legislation in the areas of fiscal policy, monetary policy, taxation, labor and manpower, foreign trade, military spending, trade regulation, protection of competition, and allocation and conservation of critical resources.

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• Introduced in Senate

  summary · EN · 5 June 1974

  Open at official source

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