-CITE-

15 USC CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND

PRODUCTIVITY 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

.

-HEAD-

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-MISC1-

Sec.

1021. Congressional declarations.

(a) Generally.

(b) Full opportunities for employment.

(c) Inflation.

(d) Coordination of Federal policies and programs.

(e) Federal controls.

(f) Expansion of private employment.

(g) Trade deficits.

(h) Balanced Federal budget.

(i) Investment needs of private enterprise.

(j) Reliance on private sector.

1022. Economic Report of President; coverage; supplementary

reports; reference to Congressional joint committee; percentage

rate of unemployment; definitions.

(a) Time of submission; contents.

(b) Supplementary reports.

(c) Referral to joint committee.

(d) Rate of unemployment.

(e) ''Inflation''; ''prices''; ''reasonable price

stability'' defined.

1022a. Medium-term economic goals and policies respecting full

employment and balanced growth.

(a) Incorporation of necessary programs and policies.

(b) Interim numerical goals for initial Economic

Reports.

(c) Achievement of full employment, balanced budget,

zero inflation rate, and 20 per centum level of

Federal outlays as a proportion of gross

national product for succeeding Economic

Reports.

(d) Review by President; report to Congress;

modification of timetables.

(e) Interim numerical goals for succeeding Economic

Reports.

(f) Action taken to reduce unemployment.

(g) Definitions.

1022b. Presentation of analysis respecting short-term and

medium-term goals in Economic Report of President; mutually

reinforcing means.

(a) Analysis of goals.

(b) Means to achieve goals.

1022c. Inclusion of priority policies and programs in President's

Budget.

1022d. President's Budget.

(a) Recommendations.

(b) Five-year projections of outlays and receipts.

(c) Inclusion in Economic Report of President;

purposeful development of expenditure and

revenue elements; considerations governing

determination of size of President's

expenditures and revenue proposals.

1022e. Inflation.

(a) Methods and requirements for achieving price

stability.

(b) Coordination of fiscal or monetary policies with

specific targeted policies.

(c) Policy initiation and recommendations; elements

of structural policies.

1022f. Advisory board or boards.

(a) Establishment.

(b) Composition; duties; compensation.

1023. Council of Economic Advisers.

(a) Creation; composition; qualifications; selection

of chairman and vice chairman.

(b) Employment of specialists, experts, and other

personnel.

(c) Duties.

(d) Annual report.

(e) Consultation with other groups and agencies;

utilization of Government services and private

research agencies.

(f) Appropriations.

1024. Joint Economic Committee.

(a) Composition.

(b) Functions.

(c) Vacancies; selection of chairman and vice

chairman.

(d) Hearings; employment and compensation of

personnel; cost of stenographic services;

utilization of Government services and private

research agencies.

(e) Appropriations.

(f) Service as attorney or expert for committee.

1025. Printing of monthly publication by Joint Economic Committee

entitled ''Economic Indicators''; distribution.

1026. Repealed.

-SECREF-

CHAPTER REFERRED TO IN OTHER SECTIONS

This chapter is referred to in sections 3113, 3116, 3117, 3131,

3132 of this title; title 2 section 632.

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15 USC Sec. 1021 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1021. Congressional declarations

-STATUTE-

(a) Generally

The Congress declares that it is the continuing policy and

responsibility of the Federal Government to use all practicable

means, consistent with its needs and obligations and other

essential national policies, and with the assistance and

cooperation of both small and larger businesses, agriculture,

labor, and State and local governments, to coordinate and utilize

all its plans, functions, and resources for the purpose of creating

and maintaining, in a manner calculated to foster and promote free

competitive enterprise and the general welfare, conditions which

promote useful employment opportunities, including self-employment,

for those able, willing, and seeking to work, and promote full

employment and production, increased real income, balanced growth,

a balanced Federal budget, adequate productivity growth, proper

attention to national priorities, achievement of an improved trade

balance through increased exports and improvement in the

international competitiveness of agriculture, business, and

industry, and reasonable price stability as provided in section

1022b(b) of this title.

(b) Full opportunities for employment

The Congress further declares and establishes as a national goal

the fulfillment of the right to full opportunities for useful paid

employment at fair rates of compensation of all individuals able,

willing, and seeking to work.

(c) Inflation

The Congress further declares that inflation is a major national

problem requiring improved government policies relating to food,

energy, improved and coordinated fiscal and monetary management,

the reform of outmoded rules and regulations of the Federal

Government, the correction of structural defects in the economy

that prevent or seriously impede competition in private markets,

and other measures to reduce the rate of inflation.

(d) Coordination of Federal policies and programs

The Congress further declares that it is the purpose of the Full

Employment and Balanced Growth Act of 1978 (15 U.S.C. 3101 et seq.)

to improve the coordination and integration of the policies and

programs of the Federal Government toward achievement of the

objectives of such Act through better management, increased

efficiency, and attention to long-range as well as short-range

problems and to balancing the Federal budget.

(e) Federal controls

The Congress further declares that, although it is the purpose

under the Full Employment and Balanced Growth Act of 1978 (15

U.S.C. 3101 et seq.) to seek diligently and to encourage the

voluntary cooperation of the private sector in helping to achieve

the objectives of such Act, no provisions of such Act or this

chapter shall be used, with respect to any portion of the private

sector of the economy, to provide for Federal Government control of

production, employment, allocation of resources, or wages and

prices, except to the extent authorized under other Federal laws.

(f) Expansion of private employment

The Congress further declares that it is the purpose of the Full

Employment and Balanced Growth Act of 1978 (15 U.S.C. 3101 et seq.)

to maximize and place primary emphasis upon the expansion of

private employment, and all programs and policies under such Act

shall be in accord with such purpose. Toward this end, the effort

to expand jobs to the full employment level shall be in this order

of priority to the extent consistent with balanced growth -

(1) expansion of conventional private jobs through improved use

of general economic and structural policies, including measures

to encourage private sector investment and capital formation;

(2) expansion of private employment through Federal assistance

in connection with the priority programs in such Act;

(3) expansion of public employment other than through the

provisions of section 206 of such Act (15 U.S.C. 3116); and

(4) when recommended by the President under section 206 of such

Act (15 U.S.C. 3116) and subject to the limitations in such

section, the creation of employment through the methods set forth

in such section.

(g) Trade deficits

The Congress further declares that trade deficits are a major

national problem requiring a strong national export policy

including improved Government policies relating to the promotion,

facilitation, and financing of commercial and agricultural exports,

Government policies designed to reduce foreign barriers to exports

through international negotiation and agreement, Federal support

for research, development, and diffusion of new technologies to

promote innovation in agriculture, business, and industry, the

elimination or modification of Government rules or regulations that

burden or disadvantage exports and the national and international

competitiveness of agriculture, business, and industry, the

reexamination of antitrust laws and policies when necessary to

enable agriculture, business, and industry to meet foreign

competition in the United States and abroad, and the achievement of

a free and fair international trading system and a sound and stable

international monetary order.

(h) Balanced Federal budget

The Congress further declares that it is the purpose of the Full

Employment and Balanced Growth Act of 1978 (15 U.S.C. 3101 et seq.)

to achieve a balanced Federal budget consistent with the

achievement of the medium-term goals specified in section 1022a of

this title.

(i) Investment needs of private enterprise

The Congress further declares that it is the continuing policy

and responsibility of the Federal Government, in cooperation with

State and local governments, to use all practical means consistent

with other essential considerations of national policy to provide

sufficient incentives to assure meeting the investment needs of

private enterprise, including the needs of small and medium sized

businesses, in order to increase the production of goods, the

provision of services, employment, the opportunity for profit, the

payment of taxes, and to reduce and control inflation. To the

extent it is reasonably possible to do so, private enterprise

investments in depressed urban and rural areas should be promoted

to reduce the high levels of unemployment that exist there.

(j) Reliance on private sector

The Congress further declares that it is the purpose of the Full

Employment and Balanced Growth Act of 1978 (15 U.S.C. 3101 et seq.)

to rely principally on the private sector for expansion of economic

activity and creation of new jobs for a growing labor force.

Toward this end, it is the purpose of this chapter to encourage the

adoption of fiscal policies that would establish the share of the

gross national product accounted for by Federal outlays at the

lowest level consistent with national needs and priorities.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 2, 60 Stat. 23; Pub. L. 95-523, title

I, Sec. 102, Oct. 27, 1978, 92 Stat. 1890.)

-REFTEXT-

REFERENCES IN TEXT

The Full Employment and Balanced Growth Act of 1978, referred to

in subsecs. (d), (e), (f), (h), and (j), is Pub. L. 95-523, Oct.

27, 1978, 92 Stat. 1887, as amended, which is classified

principally to chapter 58 (Sec. 3101 et seq.) of this title. For

complete classification of this Act to the Code, see Short Title

note set out under section 3101 of this title and Tables.

-MISC2-

AMENDMENTS

1978 - Pub. L. 95-523 designated existing provisions as subsec.

(a), inserted provisions relating to promotion of balanced growth,

a balanced Federal budget, adequate productivity growth, proper

attention to national priorities, improvement in trade balance, and

reasonable price stability, and added subsecs. (b) to (j).

SHORT TITLE

Section 1 of act Feb. 20, 1946, provided: ''This Act (enacting

this chapter) may be cited as the 'Employment Act of 1946'.''

STATEMENT OF PURPOSE

Section 101 of Pub. L. 95-523 provided that: ''It is the purpose

of this title (enacting sections 1022a to 1022f of this title,

amending sections 1021, 1022 and 1023 of this title and section

225a of Title 12, Banks and Banking, and enacting provisions set

out as a note under section 225a of Title 12) -

''(1) to declare the general policies of this Act (see Short

Title note under section 3101 of this title);

''(2) to provide an open process under which economic goals and

policies are proposed, reviewed, and established;

''(3) to provide for yearly review of national economic

policies to ensure their consistency with these goals to the

maximum extent possible; and

''(4) to strengthen and supplement the purposes and policies of

the Employment Act of 1946 (this chapter).''

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1022, 1023, 3117 of this

title.

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15 USC Sec. 1022 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1022. Economic Report of President; coverage; supplementary

reports; reference to Congressional joint committee; percentage

rate of unemployment; definitions

-STATUTE-

(a) Time of submission; contents

The President shall annually transmit to the Congress not later

than 10 days after the submission of the budget under section

1105(a) of title 31, with copies transmitted to the Governor of

each State and to other appropriate State and local officials, an

economic report (hereinafter in this chapter referred to as the

''Economic Report'') together with the annual report of the Council

of Economic Advisers submitted in accord with section 1023(c) of

this title, setting forth -

(1) the current and foreseeable trends in the levels of

employment, unemployment, production, capital formation, real

income, Federal budget outlays and receipts, productivity,

international trade and payments, and prices, and a review and

analysis of recent domestic and international developments

affecting economic trends in the Nation;

(2)(A) annual numerical goals for employment and unemployment,

production, real income, productivity, Federal outlays as a

proportion of gross national product, and prices for the calendar

year in which the Economic Report is transmitted and for the

following calendar year, designated as short-term goals, which

shall be consistent with achieving as rapidly as feasible the

goals of full employment and production, increased real income,

balanced growth, fiscal policies that would establish the share

of an expanding gross national product accounted for by Federal

outlays at the lowest level consistent with national needs and

priorities, a balanced Federal budget, adequate productivity

growth, price stability, achievement of an improved trade

balance, and proper attention to national priorities; and

(B) annual numerical goals as specified in subparagraph (A) for

the three successive calendar years, designated as medium term

goals;

(3) employment objectives for certain significant subgroups of

the labor force, including youth, women, minorities, handicapped

persons, veterans, and middle-aged and older persons; and

(4) a program for carrying out the policy declared in section

1021 of this title, together with such recommendations for

legislation as the President may deem necessary or desirable.

(b) Supplementary reports

The President may transmit from time to time to the Congress

reports supplementary to the Economic Report, each of which shall

include such supplementary or revised recommendations as he may

deem necessary or desirable to achieve the policy declared in

section 1021 of this title.

(c) Referral to joint committee

The Economic Report, and all supplementary reports transmitted

under subsection (b) of this section, shall, when transmitted to

Congress, be referred to the joint committee created by section

1024 of this title.

(d) Rate of unemployment

For the purposes of the Full Employment and Balanced Growth Act

of 1978 (15 U.S.C. 3101 et seq.) the percentage rate of

unemployment as (FOOTNOTE 1) a percentage of the civilian labor

force as set forth by the Bureau of Labor Statistics in the

Department of Labor as computed under the procedures in effect as

of October 27, 1978.

(FOOTNOTE 1) So in original. Probably should be ''is''.

(e) ''Inflation''; ''prices''; ''reasonable price stability''

defined

For the purpose of the Full Employment and Balanced Growth Act of

1978 (15 U.S.C. 3101 et seq.), the terms ''inflation'', ''prices'',

and ''reasonable price stability'' refer to the rate of change or

level of the consumer price index as set forth by the Bureau of

Labor Statistics, United States Department of Labor.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 3, 60 Stat. 24; Aug. 2, 1946, ch. 753,

title II, Sec. 226, 60 Stat. 838; June 18, 1956, ch. 399, Sec. 1,

70 Stat. 289; Pub. L. 95-523, title I, Sec. 103, Oct. 27, 1978, 92

Stat. 1892; Pub. L. 96-10, Sec. 6(d), May 10, 1979, 93 Stat. 24;

Pub. L. 101-508, title XIII, Sec. 13112(e), Nov. 5, 1990, 104 Stat.

1388-609.)

-REFTEXT-

REFERENCES IN TEXT

The Full Employment and Balanced Growth Act of 1978, referred to

in subsecs. (d) and (e), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat.

1887, as amended, which is classified principally to chapter 58

(Sec. 3101 et seq.) of this title. For complete classification of

this Act to the Code, see Short Title note set out under section

3101 of this title and Tables.

-COD-

CODIFICATION

In subsec. (a), ''section 1023(c) of this title'' was in the

original ''section 11(c) of this Act'', which is classified to

section 1024(c) of this title. The citation has been editorially

translated as indicated to reflect the probable intent of Congress

because the reporting requirements appear in section 10(c) of the

Act, which is classified to section 1023(c) of this title.

-MISC3-

AMENDMENTS

1990 - Subsec. (a). Pub. L. 101-508, which directed the

substitution of ''annually transmit to the Congress not later than

10 days after the submission of the budget under section 1105(a) of

title 31'' for ''transmit to the Congress during the first twenty

days of each regular session'' in section ''103(a) of the Full

Employment and Balanced Growth Act of 1978 (15 U.S.C. 1022(a)'',

was executed to this section, section 3 of the Employment Act of

1946, as amended by that Act, to reflect the probable intent of

Congress.

1979 - Subsec. (a)(2)(A). Pub. L. 96-10 inserted reference to

Federal outlays as a proportion of gross national product.

1978 - Subsec. (a). Pub. L. 95-523, Sec. 103(a), among other

changes, inserted provisions relating to the annual report of the

Council of Economic Advisers and the inclusion in the President's

Economic Report of annual numerical goals for employment,

unemployment, production etc., and employment objectives for

certain subgroups and struck out provisions relating to the review

of the Federal Government's economic program and economic

conditions affecting employment in the United States.

Subsecs. (d), (e). Pub. L. 95-523, Sec. 103(b), added subsecs.

(d) and (e).

1956 - Subsec. (a). Act June 18, 1956, substituted ''not later

than January 20 of each year'' for ''at the beginning of each

regular session (commencing with the year 1947)''.

1946 - Subsec. (a). Act Aug. 2, 1946, substituted ''at'' for

''within 60 days after''.

EFFECTIVE DATE OF 1946 AMENDMENT

Amendment by act Aug. 2, 1946, effective Aug. 2, 1946, see

section 245 of that act, set out as a note under section 72a of

Title 2, The Congress.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1022a, 1022d, 1022e,

3116, 3132 of this title; title 2 sections 632, 636.

-CITE-

15 USC Sec. 1022a 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1022a. Medium-term economic goals and policies respecting full

employment and balanced growth

-STATUTE-

(a) Incorporation of necessary programs and policies

In each Economic Report after October 27, 1978, the President

shall incorporate (as part of the five-year numerical goals in each

Economic Report) medium-term annual numerical goals specified in

section 1022(a)(2)(B) of this title, and in each President's Budget

submitted immediately prior thereto, the President shall

incorporate the programs and policies the President deems necessary

to achieve such medium-term goals and a balanced Federal budget and

to achieve reasonable price stability as rapidly as feasible as

provided for in section 1022b(b) of this title.

(b) Interim numerical goals for initial Economic Reports

The medium-term goals in the first three Economic Reports and,

subject to the provisions of subsection (d) of this section, in

each Economic Report thereafter shall include (as part of the

five-year goals in each Economic Report) interim numerical goals

for -

(1) reducing the rate of unemployment, as set forth pursuant to

section 1022(d) of this title, to not more than 3 per centum

among individuals aged twenty and over and 4 per centum among

individuals aged sixteen and over within a period not extending

beyond the fifth calendar year after the first such Economic

Report;

(2) reducing the rate of inflation, as set forth pursuant to

section 1022(e) of this title, to not more than 3 per centum

within a period not extending beyond the fifth calendar year

after the first such Economic Report: Provided, That policies and

programs for reducing the rate of inflation shall be designed so

as not to impede achievement of the goals and timetables

specified in clause (1) of this subsection for the reduction of

unemployment; and

(3) reducing the share of the Nation's gross national product

accounted for by Federal outlays to 21 per centum or less by

1981, and to 20 per centum or less by 1983 and thereafter, or the

lowest level consistent with national needs and priorities:

Provided, That policies and programs for achieving the goal

specified in this clause shall be designed so as not to impede

achievement of the goals and timetables specified in clause (1)

of this subsection for the reduction of unemployment.

For purposes of this subsection, the first Economic Report shall be

the Report issued in the first calendar year after October 27,

1978.

(c) Achievement of full employment, balanced budget, zero inflation

rate, and 20 per centum level of Federal outlays as a

proportion of gross national product for succeeding Economic

Reports

(1) Upon achievement of the 3 and 4 per centum goals specified in

subsection (b)(1) of this section, each succeeding Economic Report

shall have the goal of achieving as soon as practicable and

maintaining thereafter full employment and a balanced budget.

(2) Upon achievement of the 3 per centum goal specified in

subsection (b)(2) of this section, each succeeding Economic Report

shall have the goal of achieving by 1988 a rate of inflation of

zero per centum: Provided, That policies and programs for reducing

the rate of inflation shall be designed so as not to impede

achievement of the goals and timetables specified in clause (1) of

this subsection for the reduction of unemployment.

(3) Upon achievement of the 20 per centum goal specified in

subsection (b)(3) of this section, each succeeding Economic Report

shall have the goal of establishing the share of an expanding gross

national product accounted for by Federal outlays at a level of 20

per centum or less, or the lowest level consistent with national

needs and priorities: Provided, That policies and programs for

achieving the goal specified in this clause shall be designed so as

not to impede achievement of the goals and timetables specified in

subsection (b)(1) of this section for the reduction of

unemployment.

(d) Review by President; report to Congress; modification of

timetables

In the second Economic Report after October 27, 1978, the

President shall review the numerical goals and timetables for the

reduction of unemployment, inflation, and Federal outlays as a

proportion of gross national product, and the goal of balancing the

Federal budget; report to the Congress on the degree of progress

being made, the programs and policies being used, and any obstacles

to achieving such goals and timetables; and, if necessary, propose

corrective economic measures toward achievement of such goals and

timetables: Provided, That beginning with the second Report and in

any subsequent Reports, if the President finds it necessary, the

President may recommend modification of the timetable or timetables

for the achievement of the goals provided for in subsection (b) of

this section and the annual numerical goals to make them consistent

with the modified timetable or timetables, and the Congress may

take such action as it deems appropriate consistent with title III

of the Full Employment and Balanced Growth Act of 1978 (15 U.S.C.

3131 et seq.).

(e) Interim numerical goals for succeeding Economic Reports

If, after achievement of the 3 and 4 per centum goals specified

in subsection (b) of this section, the unemployment rate for a year

as set forth pursuant to section 1022(d) of this title is more than

3 per centum among individuals aged twenty and over or more than 4

per centum among individuals aged sixteen and over, the next

Economic Report after such rate is set forth and each succeeding

Economic Report shall include (as part of the five-year goals in

each Economic Report) the interim numerical goal of reducing

unemployment to not more than the levels specified in subsection

(b)(1) of this section as soon as practicable but not later than

the fifth calendar year after the first such Economic Report,

counting as the first calendar year the year in which such Economic

Report is issued: Provided, That, if the President finds it

necessary, the President may, under the authority provided in

subsection (d) of this section, recommend modification of the

timetable provided for in this subsection for the reduction of

unemployment, and for the purposes of section 304 of the Full

Employment and Balanced Growth Act of 1978, such recommendation by

the President shall be treated as a recommendation made under

subsection (d) of this section.

(f) Action taken to reduce unemployment

(1) In taking action to reduce unemployment in accord with the

numerical goals and timetable established under subsection (b) of

this section, every effort shall be made to reduce those

differences between the rates of unemployment among youth, women

(FOOTNOTE 1) minorities, handicapped persons, veterans, middle-aged

and older persons and other labor force groups and the overall rate

of unemployment which are caused by any improper factors with the

ultimate objective of removing such differentials to the extent

possible.

(FOOTNOTE 1) So in original. Probably should be followed by a

comma.

(2) Insofar as the differences specified in the preceding

paragraph are due to lack of training and skills, occupational

practices, and other relevant factors, the Secretary of Labor shall

-

(A) take such action as practicable to achieve the objectives

of this subsection;

(B) make studies, develop information, and make recommendations

toward remedying these differences in rates of unemployment, and

prepare and submit to the President an annual report containing

the recommendations; and

(C) make recommendations, as deemed necessary, to the Congress

related to the objectives of this paragraph.

(g) Definitions

(1) The term ''middle-aged and older persons'' as used in this

section includes any individual forty-five years of age or older.

(2) For purposes of this section, the term ''veteran'' shall mean

the same as defined in section 4211(1) or (2) of title 38.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 4, as added Pub. L. 95-523, title I,

Sec. 104, Oct. 27, 1978, 92 Stat. 1893; amended Pub. L. 96-10, Sec.

6(a)-(c), May 10, 1979, 93 Stat. 23, 24; Pub. L. 103-446, title

XII, Sec. 1203(c)(4), Nov. 2, 1994, 108 Stat. 4690; Pub. L.

105-277, div. A, Sec. 101(f) (title VIII, Sec. 405(d)(11)), Oct.

21, 1998, 112 Stat. 2681-337, 2681-420.)

-REFTEXT-

REFERENCES IN TEXT

The Full Employment and Balanced Growth Act of 1978, referred to

in subsec. (d), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat. 1887, as

amended. Title III of the Full Employment and Balanced Growth Act

of 1978 is classified principally to subchapter II (Sec. 3131 et

seq.) of chapter 58 of this title. For complete classification of

this Act to the Code, see Short Title note set out under section

3101 of this title and Tables.

Section 304 of the Full Employment and Balanced Growth Act of

1978, referred to in subsec. (e), is Pub. L. 95-523, Sec. 304, Oct.

27, 1978, 92 Stat. 1906, which amended section 632 of Title 2, The

Congress.

-MISC2-

PRIOR PROVISIONS

A prior section 4 of act Feb. 20, 1946, was renumbered section 10

and is classified to section 1023 of this title.

AMENDMENTS

1998 - Subsec. (f)(2)(B). Pub. L. 105-277 substituted ''and

prepare and submit to the President an annual report containing the

recommendations'' for ''and include these in the annual Employment

and Training Report of the President required under section 705(a)

of the Comprehensive Employment and Training Act of 1973

(hereinafter in this chapter referred to as 'CETA')''.

1994 - Subsec. (g)(2). Pub. L. 103-446 substituted ''this

section'' for ''this subsection'' and ''section 4211(1) or (2) of

title 38'' for ''section 2011(1) or (2)(A) of title 38''.

1979 - Subsec. (b)(3). Pub. L. 96-10, Sec. 6(a), added par. (3).

Subsec. (c)(3). Pub. L. 96-10, Sec. 6(b), added par. (3).

Subsec. (d). Pub. L. 96-10, Sec. 6(c), inserted reference to

Federal outlays as a proportion of gross national product.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1021, 1022d, 1022e, 3116,

3132, 3151 of this title; title 2 sections 632, 636.

-CITE-

15 USC Sec. 1022b 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1022b. Presentation of analysis respecting short-term and

medium-term goals in Economic Report of President; mutually

reinforcing means

-STATUTE-

(a) Analysis of goals

To aid in determining the short-term and medium-term goals for

employment, production, real income, and prices, analysis shall be

presented in the Economic Report with respect to major aspects of

the appropriate composition or structure of each goal, and as to

the appropriate apportionment of total national production among

its major components (private investment, consumer expenditures,

and public outlays) as affected by relative income flows and other

factors, in order to promote balanced growth and a balanced Federal

budget, reduce cyclical disturbances, and achieve the other

purposes of this chapter and the Full Employment and Balanced

Growth Act of 1978 (15 U.S.C. 3101 et seq.).

(b) Means to achieve goals

In choosing means to achieve the goal for the reduction of

unemployment and choosing means to achieve the goal of reasonable

price stability, those means which are mutually reinforcing shall

be used to the extent practicable.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 5, as added Pub. L. 95-523, title I,

Sec. 105, Oct. 27, 1978, 92 Stat. 1895.)

-REFTEXT-

REFERENCES IN TEXT

The Full Employment and Balanced Growth Act of 1978, referred to

in subsec. (a), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat. 1887, as

amended, which is classified principally to chapter 58 (Sec. 3101

et seq.) of this title. For complete classification of this Act to

the Code, see Short Title note set out under section 3101 of this

title and Tables.

-MISC2-

PRIOR PROVISIONS

A prior section 5 of act Feb. 20, 1946, was renumbered section 11

and is classified to section 1024 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1021, 1022a, 1022e, 3111

of this title.

-CITE-

15 USC Sec. 1022c 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1022c. Inclusion of priority policies and programs in

President's Budget

-STATUTE-

To contribute to the achievement of the goals under the Full

Employment and Balanced Growth Act of 1978 (15 U.S.C. 3101 et

seq.), the President's Budget for each fiscal year beginning after

October 27, 1978, shall include priority policies and programs,

which shall include, to the extent deemed appropriate by the

President, consideration of the following -

(A) development of energy sources and supplies, transportation,

and environmental improvement;

(B) proper attention to the problems and needs of smaller

businesses including (i) the availability of investment capital,

management and technical expertise, and technology and labor

needs, (ii) analysis of economic and social trends which may

affect smaller businesses, (iii) government policies and programs

(including agency regulations and excessive paperwork

requirements) that may create undue hardship for or reduce the

competitiveness of smaller businesses, and (iv) other policies

and programs to remove barriers to competition and to strengthen

and promote the creation and growth of smaller businesses;

(C) development of a comprehensive national agricultural policy

that assures -

(i) production levels adequate to meet the nutritional needs

of all Americans and respond to rising food requirements

throughout the world;

(ii) farm and ranch income at full parity levels that will

improve opportunities for farm families, encourage production,

provide for essential capital investment in farming, and

provide for farm prices at full parity in the market place;

(iii) renewed commitment to the protection and conservation

of rural land and water through support for improved

conservation practices and research, and attention to

agricultural land use in the formulation of plans for energy,

water and mineral resources, transportation, and commercial,

industrial, and residential development; and

(iv) support for programs and public services designed to

respond to the unique economic and social conditions of rural

communities;

(D) proper attention to the relationship between Federal

programs and policies and the problems and needs of urban areas,

including inner cities and the employment problems of their

residents, especially youths;

(E) proper attention to the quality and quantity of health

care, education and training programs, child care and other human

services, and housing, essential to a full employment economy and

to moving toward their availability for all individuals at costs

within their means;

(F) policies concerning Federal aid to State and local

governments, especially for public investment and unemployment

related costs;

(G) national defense and other needed international programs;

(H) proper attention to the relationship between Federal

grants, contracts, and procurement and the closure of military

bases and other Federal facilities and the distribution of jobs

and income among different regions of the Nation, and among

urban, suburban, and rural areas;

(I) proper attention to balancing the Federal budget;

(J) proper attention to the dislocation of jobs caused by

Federal laws, regulations, and policies;

(K) policies and programs designed to increase exports and

improve the international competitive position of agriculture,

business, and industry, including measures to promote a free and

fair international trading system, a sound and stable

international monetary system and innovation in agriculture,

business, and industry;

(L) such other priority policies and programs as the President

deems appropriate.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 6, as added Pub. L. 95-523, title I,

Sec. 106, Oct. 27, 1978, 92 Stat. 1895.)

-REFTEXT-

REFERENCES IN TEXT

The Full Employment and Balanced Growth Act of 1978, referred to

in provision preceding par. (A), is Pub. L. 95-523, Oct. 27, 1978,

92 Stat. 1887, as amended, which is classified principally to

chapter 58 (Sec. 3101 et seq.) of this title. For complete

classification of this Act to the Code, see Short Title note set

out under section 3101 of this title and Tables.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1022d of this title.

-CITE-

15 USC Sec. 1022d 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1022d. President's Budget

-STATUTE-

(a) Recommendations

The President's Budget shall recommend levels of outlays and

receipts which shall be consistent with the short-term economic

goals of section 1022(a)(2)(A) of this title.

(b) Five-year projections of outlays and receipts

The President's Budget shall provide five-year projections of

outlays and receipts consistent with the medium-term goals of

section 1022a(b) of this title.

(c) Inclusion in Economic Report of President; purposeful

development of expenditure and revenue elements; considerations

governing determination of size of President's expenditures and

revenue proposals

The principal elements in the President's Budget shall be set

forth briefly in each Economic Report, toward the end of making

clear the relationship between the President's Budget and the goals

and policies set forth in such Economic Report. Both the

expenditure and revenue elements of the President's Budget shall be

developed to promote the purposes, policies, and goals of the Full

Employment and Balanced Growth Act of 1978 (15 U.S.C. 3101 et

seq.). The size of the President's expenditure and revenue

proposals, and the relationships between such proposals, shall be

determined in a manner which gives consideration to the needs of

the economy and the people in the priority areas set forth in

section 1022c of this title, and the relationship between the

President's expenditure and revenue proposals shall be guided

accordingly.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 7, as added Pub. L. 95-523, title I,

Sec. 107, Oct. 27, 1978, 92 Stat. 1896.)

-REFTEXT-

REFERENCES IN TEXT

The Full Employment and Balanced Growth Act of 1978, referred to

in subsec. (c), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat. 1887, as

amended, which is classified principally to chapter 58 (Sec. 3101

et seq.) of this title. For complete classification of this Act to

the Code, see Short Title note set out under section 3101 of this

title and Tables.

-CITE-

15 USC Sec. 1022e 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1022e. Inflation

-STATUTE-

(a) Methods and requirements for achieving price stability

The Congress determines that the objective of achieving

reasonable price stability as soon as feasible, as set forth in

section 1022(a)(3) of this title and section 1022a(a) of this

title, shall be pursued by the methods and subject to the

requirements of section 1022b(b) of this title.

(b) Coordination of fiscal or monetary policies with specific

targeted policies

The Congress finds that sole dependence upon fiscal or monetary

policies or both to combat inflation can exacerbate both inflation

and unemployment. The Congress finds that the coordinated use of

fiscal and monetary policies in conjunction with specific targeted

policies are necessary to combat inflation.

(c) Policy initiation and recommendations; elements of structural

policies

The President shall initiate specific policies to reduce the rate

of inflation, including recommendations to the Congress where

necessary, and include recommendations within the Economic Report

and the President's budget to the extent practicable. Structural

policies to reduce the rate of inflation may include -

(1) an effective information system to monitor and analyze

inflationary trends in individual economic sectors, so that the

President and Congress can be alerted to developing inflation

problems especially those caused by bottlenecks inhibiting the

flow of goods and services;

(2) programs and policies for alleviating shortages of goods,

services, labor, and capital, with particular emphasis on food,

energy, and critical industrial materials to aid in stabilizing

prices;

(3) the establishment of stockpiles of agricultural commodities

and other critical materials to help stabilize prices, meet

emergency needs, and promote adequate income to producers;

(4) encouragement to labor and management to increase

productivity within the national framework of full employment

through voluntary arrangements in industries and economic

sectors;

(5) recommendations to increase competition in the private

sector and to improve the economic climate for the creation and

growth of smaller businesses, including recommendations to

strengthen and enforce the antitrust laws, the patent laws, and

the internal revenue laws and regulations;

(6) removal or proper modification of such Government

restrictions and regulations as added unnecessarily to

inflationary costs;

(7) increasing exports and improving the international

competitive position of agriculture, business, and industry; and

(8) such other administrative actions and recommendations for

legislation as the President deems desirable, to promote

reasonable price stability.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 8, as added Pub. L. 95-523, title I,

Sec. 109, Oct. 27, 1978, 92 Stat. 1898.)

-CITE-

15 USC Sec. 1022f 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1022f. Advisory board or boards

-STATUTE-

(a) Establishment

An advisory board or boards (including regional advisory boards)

may be established as the President deems appropriate, to advise

and consult periodically with one or more of the following: The

President, the Council of Economic Advisers, and such other

departments and agencies of the executive branch of the Federal

Government as the President shall determine.

(b) Composition; duties; compensation

Such advisory board or boards shall include appropriate

representation of labor, small and larger businesses and

industries, agriculture, consumers, State and local officials, and

the public at large, and shall advise and consult with respect to

matters related to this chapter, the Full Employment aand (FOOTNOTE

1) Balanced Growth Act of 1978 (15 U.S.C. 3101 et seq.), and other

appropriate matters related to national economic programs and

policies. The President shall, in accordance with applicable

provisions of law, take the steps necessary to provide appropriate

compensation to the members of such advisory board or boards.

(FOOTNOTE 1) So in original. Probably should be ''and''.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 9, as added Pub. L. 95-523, title I,

Sec. 111, Oct. 27, 1978, 92 Stat. 1899.)

-REFTEXT-

REFERENCES IN TEXT

The Full Employment and Balanced Growth Act of 1978, referred to

in subsec. (b), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat. 1887, as

amended, which is classified principally to chapter 58 (Sec. 3101

et seq.) of this title. For complete classification of this Act to

the Code, see Short Title note set out under section 3101 of this

title and Tables.

-MISC2-

TERMINATION OF ADVISORY BOARDS

Advisory boards established after Jan. 5, 1973, to terminate not

later than the expiration of the 2-year period beginning on the

date of their establishment, unless, in the case of a board

established by the President or an officer of the Federal

Government, such board is renewed by appropriate action prior to

the expiration of such 2-year period, or in the case of a board

established by the Congress, its duration is otherwise provided for

by law. See sections 3(2) and 14 of Pub. L. 92-463, Oct. 6, 1972,

86 Stat. 770, 776, set out in the Appendix to Title 5, Government

Organization and Employees.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1023 of this title.

-CITE-

15 USC Sec. 1023 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1023. Council of Economic Advisers

-STATUTE-

(a) Creation; composition; qualifications; selection of chairman

and vice chairman

There is created in the Executive Office of the President a

Council of Economic Advisers (hereinafter called the ''Council'').

The Council shall be composed of three members who shall be

appointed by the President by and with the advice and consent of

the Senate, and each of whom shall be a person who, as a result of

his training, experience, and attainments, is exceptionally

qualified to analyze and interpret economic developments, to

appraise programs and activities of the Government in the light of

the policy declared in section 1021 of this title, and to formulate

and recommend national economic policy to promote full employment,

production, and purchasing power under free competitive

enterprise. The President shall designate one of the members of

the Council as chairman and one as vice chairman, who shall act as

chairman in the absence of the chairman.

(b) Employment of specialists, experts, and other personnel

The Council is authorized to employ, and fix the compensation of,

such specialists and other experts as may be necessary for the

carrying out of its functions under this chapter, without regard to

the civil-service laws, and is authorized, subject to the

civil-service laws, to employ such other officers and employees as

may be necessary for carrying out its functions under this chapter,

and fix their compensation in accordance with chapter 51 and

subchapter III of chapter 53 of title 5.

(c) Duties

It shall be the duty and function of the Council -

(1) to assist and advise the President in the preparation of

the Economic Report;

(2) to gather timely and authoritative information concerning

economic developments and economic trends, both current and

prospective, to analyze and interpret such information in the

light of the policy declared in section 1021 of this title for

the purpose of determining whether such developments and trends

are interfering, or are likely to interfere, with the achievement

of such policy, and to compile and submit to the President

studies relating to such developments and trends;

(3) to appraise the various programs and activities of the

Federal Government in the light of the policy declared in section

1021 of this title for the purpose of determining the extent to

which such programs and activities are contributing, and the

extent to which they are not contributing, to the achievement of

such policy, and to make recommendations to the President with

respect thereto;

(4) to develop and recommend to the President national economic

policies to foster and promote free competitive enterprise

including small and larger business, to avoid economic

fluctuations or to diminish the effects thereof, and to maintain

full employment, production, and purchasing power;

(5) to make and furnish such studies, reports thereon, and

recommendations with respect to matters of Federal economic

policy and legislation as the President may request.

(d) Annual report

The Council shall make an annual report to the President in

December of each year.

(e) Consultation with other groups and agencies; utilization of

Government services and private research agencies

In exercising its powers, functions and duties under this chapter

-

(1) the Council may constitute such advisory committees and may

consult with such representatives of industry, agriculture,

labor, consumers, State and local governments, and other groups,

as it deems advisable, and shall consult with the board or boards

established under section 1022f of this title;

(2) the Council shall, to the fullest extent possible, utilize

the services, facilities, and information (including statistical

information) of other Government agencies as well as of private

research agencies, in order that duplication of effort and

expense may be avoided.

In its work under this chapter and the Full Employment and Balanced

Growth Act of 1978 (15 U.S.C. 3101 et seq.), the Council is

authorized and directed to seek and obtain the cooperation of the

various executive and independent agencies in the development of

specialized studies essential to its responsibilities.

(f) Appropriations

To enable the Council to exercise its powers, functions, and

duties under this chapter, there are authorized to be appropriated

such sums as may be necessary.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 10, formerly Sec. 4, 60 Stat. 24; Oct.

28, 1949, ch. 782, title XI, Sec. 1106(a), 63 Stat. 972; Pub. L.

87-49, June 16, 1961, 75 Stat. 93; renumbered Sec. 10 and amended

Pub. L. 95-523, title I, Sec. 104, 110, Oct. 27, 1978, 92 Stat.

1893, 1899.)

-REFTEXT-

REFERENCES IN TEXT

The civil service laws, referred to in subsec. (b), are set forth

in Title 5, Government Organization and Employees. See,

particularly, section 3301 et seq. of Title 5.

The Full Employment and Balanced Growth Act of 1978, referred to

in subsec. (e), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat. 1887, as

amended, which is classified principally to chapter 58 (Sec. 3101

et seq.) of this title. For complete classification of this Act to

the Code, see Short Title note set out under section 3101 of this

title and Tables.

-COD-

CODIFICATION

In subsec. (a), provisions that fixed the compensation of members

of the Council have been omitted as obsolete. The positions of

chairman and members of the Council are under the Executive

Schedule, see sections 5313 and 5315 of Title 5, Government

Organization and Employees.

In subsec. (b), provisions that authorized the Council to fix the

compensation of such specialists and other experts as may be

necessary for the carrying out of its functions under this chapter,

without regard to ''the Classification Act of 1923, as amended'',

were omitted as obsolete. Sections 1202 and 1204 of the

Classification Act of 1949, 63 Stat. 972, 973, repealed the 1923

Act and all laws or parts of laws inconsistent with the 1949 Act.

While section 1106(a) of the 1949 Act provided that references in

other laws to the 1923 Act should be held and considered to mean

the 1949 Act, it did not have the effect of continuing the

exceptions contained in this subsection because of section 1106(b)

which provided that the application of the 1949 Act to any

position, officer, or employee shall not be affected by section

1106(a). The Classification Act of 1949 was repealed by Pub. L.

89-554, Sept. 6, 1966, Sec. 8(a), 80 Stat. 632 (of which section 1

revised and enacted Title 5, Government Organization and Employees,

into law). Section 5102 of Title 5 contains the applicability

provisions of the 1949 Act, and section 5103 of Title 5 authorizes

the Office of Personnel Management to determine the applicability

to specific positions and employees.

''Chapter 51 and subchapter III of chapter 53 of title 5''

substituted in subsec. (b) for ''the Classification Act of 1949''

on authority of Pub. L. 89-554, Sec. 7(b), Sept. 6, 1966, 80 Stat.

631, the first section of which enacted Title 5.

-MISC3-

AMENDMENTS

1978 - Subsec. (a). Pub. L. 95-523, Sec. 110(a)(1), inserted

''full'' after ''policy to promote''.

Subsec. (c)(4). Pub. L. 95-523, Sec. 110(a)(2), inserted

''including small and larger business'' after ''free competitive

enterprise'' and inserted ''full'' after ''and to maintain''.

Subsec. (e). Pub. L. 95-523, Sec. 110(a)(3), (4), inserted in

par. (1) '', and shall consult with the board or boards established

under section 1022f of this title'' after ''as it deems advisable''

and after par. (2) inserted provisions authorizing and directing

the Council to seek and obtain the cooperation of executive and

independent agencies in the development of specialized studies

essential to its responsibilities.

1961 - Subsec. (f). Pub. L. 87-49 struck out provisions which

limited the appropriations for salaries of the members and officers

and employees of the Council to not more than $345,000 for each

fiscal year.

1949 - Subsec. (b). Act Oct. 28, 1949, substituted

''Classification Act of 1949'' for ''Classification Act of 1923''.

REPEALS

Act Oct. 28, 1949, ch. 782, cited as a credit to this section,

was repealed (subject to a savings clause) by Pub. L. 89-554, Sept.

6, 1966, Sec. 8, 80 Stat. 632, 655.

-TRANS-

TRANSFER OF FUNCTIONS

Certain functions of Council of Economic Advisers transferred to

Chairman, see 1953 Reorg. Plan No. 9, eff. Aug. 1, 1953, 18 F.R.

4542, set out below. 1953 Reorg. Plan No. 9 also abolished office

of Vice Chairman.

-MISC5-

TERMINATION OF ADVISORY COMMITTEES

Advisory committees in existence on Jan. 5, 1973, to terminate

not later than the expiration of the 2-year period following Jan.

5, 1973, unless, in the case of a committee established by the

President or an officer of the Federal Government, such committee

is renewed by appropriate action prior to the expiration of such

2-year period, or in the case of a committee established by the

Congress, its duration is otherwise provided by law. See section

14 of Pub. L. 92-463, Oct. 6, 1972, 86 Stat. 776, set out in the

Appendix to Title 5, Government Organization and Employees.

REORGANIZATION PLAN NO. 9 OF 1953

EFF. AUG. 1, 1953, 18 F.R. 4543, 67 STAT. 644

Prepared by the President and transmitted to the Senate and the

House of Representatives in Congress assembled, June 1, 1953,

pursuant to the provisions of the Reorganization Act of 1949,

approved June 20, 1949, as amended (see 5 U.S.C. 901 et seq.).

COUNCIL OF ECONOMIC ADVISERS

The functions vested in the Council of Economic Advisers by

section 4(b) of the Employment Act of 1946 (60 Stat. 24) (subsec.

(b) of this section), and so much of the functions vested in the

Council by section 4(c) of that Act (subsec. (c) of this section)

as consists of reporting to the President with respect to any

function of the Council under the said section 4(c) (subsec. (c) of

this section), are hereby transferred to the Chairman of the

Council of Economic Advisers. The position of Vice Chairman of the

Council of Economic Advisers, provided for in the last sentence of

section 4(a) of the said Act (subsec. (a) of this section) is

hereby abolished.

-EXEC-

EXECUTIVE ORDER NO. 10802

Ex. Ord. No. 10802, Jan. 23, 1959, 24 F.R. 557, which established

the Committee on Government Activities Affecting Prices and Costs,

was revoked by Ex. Ord. No. 10928, Mar. 23, 1961, 26 F.R. 2547.

EXECUTIVE ORDER NO. 11453

Ex. Ord. No. 11453, Jan. 24, 1969, 34 F.R. 1301, which

established the Cabinet Committee on Economic Policy, was revoked

by Ex. Ord. No. 11702, Jan. 25, 1973, 38 F.R. 2957, set out as a

note under section 887d of Title 20, Education.

EXECUTIVE ORDER NO. 12296

Ex. Ord. No. 12296, Mar. 2, 1981, 46 F.R. 15129, as amended by

Ex. Ord. No. 12309, June 9, 1981, 46 F.R. 30997, which related to

the establishment, functions, administration, and termination of

the President's Economic Policy Advisory Board, was revoked by Ex.

Ord. No. 12692, Sept. 29, 1989, 54 F.R. 40627, formerly set out as

a note under section 14 of the Federal Advisory Committee Act in

the Appendix to Title 5, Government Organization and Employees.

Term of the President's Economic Policy Advisory Board extended

until Sept. 30, 1984, by Ex. Ord. No. 12399, Dec. 31, 1982, 48 F.R.

379, formerly set out as a note under section 14 of the Federal

Advisory Committee Act in the Appendix to Title 5.

Term of the President's Economic Policy Advisory Board extended

until Sept. 30, 1985, by Ex. Ord. No. 12489, Sept. 28, 1984, 49

F.R. 38927, formerly set out as a note under section 14 of the

Federal Advisory Committee Act in the Appendix to Title 5.

Term of the President's Economic Policy Advisory Board extended

until Sept. 30, 1987, by Ex. Ord. No. 12534, Sept. 30, 1985, 50

F.R. 40319, formerly set out as a note under section 14 of the

Federal Advisory Committee Act in the Appendix to Title 5.

Term of the President's Economic Policy Advisory Board extended

until Sept. 30, 1989, by Ex. Ord. No. 12610, Sept. 30, 1987, 52

F.R. 36901, formerly set out as a note under section 14 of the

Federal Advisory Committee Act in the Appendix to Title 5.

EX. ORD. NO. 12835. ESTABLISHMENT OF NATIONAL ECONOMIC COUNCIL

Ex. Ord. No. 12835, Jan. 25, 1993, 58 F.R. 6189, as amended by

Ex. Ord. No. 13286, Sec. 27, Feb. 28, 2003, 68 F.R. 10625,

provided:

By the authority vested in me as President of the United States

by the Constitution and the laws of the United States of America,

including sections 105, 107, and 301 of title 3, United States

Code, it is hereby ordered as follows:

Section 1. Establishment. There is established the National

Economic Council (''the Council'').

Sec. 2. Membership. The Council shall comprise the:

(a) President, who shall serve as Chairman of the Council;

(b) Vice President;

(c) Secretary of State;

(d) Secretary of the Treasury;

(e) Secretary of Agriculture;

(f) Secretary of Commerce;

(g) Secretary of Labor;

(h) Secretary of Housing and Urban Development;

(i) Secretary of Transportation;

(j) Secretary of Energy;

(k) Secretary of Homeland Security;

(l) Administrator of the Environmental Protection Agency;

(m) Chair of the Council of Economic Advisers;

(n) Director of the Office of Management and Budget;

(o) United States Trade Representative;

(p) Assistant to the President for Economic Policy;

(q) Assistant to the President for Domestic Policy;

(r) National Security Adviser;

(s) Assistant to the President for Science and Technology

Policy; and

(t) Such other officials of executive departments and agencies

as the President may, from time to time, designate.

Sec. 3. Meetings of the Council. The President, or upon his

direction, the Assistant to the President for Economic Policy

(''the Assistant''), may convene meetings of the Council. The

President shall preside over the meetings of the Council, provided

that in his absence the Vice President, and in his absence the

Assistant, will preside.

Sec. 4. Functions. (a) The principal functions of the Council

are: (1) to coordinate the economic policy-making process with

respect to domestic and international economic issues; (2) to

coordinate economic policy advice to the President; (3) to ensure

that economic policy decisions and programs are consistent with the

President's stated goals, and to ensure that those goals are being

effectively pursued; and (4) to monitor implementation of the

President's economic policy agenda. The Assistant may take such

actions, including drafting a Charter, as may be necessary or

appropriate to implement such functions.

(b) All executive departments and agencies, whether or not

represented on the Council, shall coordinate economic policy

through the Council.

(c) In performing the foregoing functions, the Assistant will,

when appropriate, work in conjunction with the Assistant to the

President for Domestic Policy and the Assistant to the President

for National Security.

(d) The Secretary of the Treasury will continue to be the senior

economic official in the executive branch and the President's chief

economic spokesperson. The Director of the Office of Management

and Budget, as the President's principal budget spokesperson, will

continue to be the senior budget official in the executive branch.

The Council of Economic Advisers will continue its traditional

analytic, forecasting and advisory functions.

Sec. 5. Administration. (a) The Council may function through

established or ad hoc committees, task forces or interagency

groups.

(b) The Council shall have a staff to be headed by the Assistant

to the President for Economic Policy. The Council shall have such

staff and other assistance as may be necessary to carry out the

provisions of this order.

(c) All executive departments and agencies shall cooperate with

the Council and provide such assistance, information, and advice to

the Council as the Council may request, to the extent permitted by

law.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1022 of this title.

-CITE-

15 USC Sec. 1024 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1024. Joint Economic Committee

-STATUTE-

(a) Composition

There is established a Joint Economic Committee, to be composed

of ten Members of the Senate, to be appointed by the President of

the Senate, and ten Members of the House of Representatives, to be

appointed by the Speaker of the House of Representatives. In each

case, the majority party shall be represented by six Members and

the minority party shall be represented by four Members.

(b) Functions

It shall be the function of the joint committee -

(1) to make a continuing study of matters relating to the

Economic Report;

(2) to study means of coordinating programs in order to further

the policy of this chapter; and

(3) as a guide to the several committees of the Congress

dealing with legislation relating to the Economic Report, not

later than March 1 of each year (beginning with the year 1947) to

file a report with the Senate and the House of Representatives

containing its findings and recommendations with respect to each

of the main recommendations made by the President in the Economic

Report, and from time to time to make such other reports and

recommendations to the Senate and House of Representatives as it

deems advisable.

(c) Vacancies; selection of chairman and vice chairman

Vacancies in the membership of the joint committee shall not

affect the power of the remaining members to execute the functions

of the joint committee, and shall be filled in the same manner as

in the case of the original selection. The joint committee shall

select a chairman and a vice chairman from among its members.

(d) Hearings; employment and compensation of personnel; cost of

stenographic services; utilization of Government services and

private research agencies

The joint committee, or any duly authorized subcommittee thereof,

is authorized to hold such hearings as it deems advisable, and,

within the limitations of its appropriations, the joint committee

is empowered to appoint and fix the compensation of such experts,

consultants, technicians, and clerical and stenographic assistants,

to procure such printing and binding, and to make such

expenditures, as it deems necessary and advisable. The cost of

stenographic services to report hearings of the joint committee, or

any subcommittee thereof, shall not exceed 25 cents per hundred

words. The joint committee is authorized to utilize the services,

information, and facilities of the departments and establishments

of the Government, and also of private research agencies.

(e) Appropriations

To enable the joint committee to exercise its powers, functions,

and duties under this chapter, there are authorized to be

appropriated for each fiscal year such sums as may be necessary, to

be disbursed by the Secretary of the Senate on vouchers signed by

the chairman or vice chairman, except that vouchers shall not be

required for the disbursement of salaries of employees paid at an

annual rate.

(f) Service as attorney or expert for committee

Service of one individual, until the completion of the

investigation authorized by Senate Concurrent Resolution 26,

Eighty-first Congress, as an attorney or expert for the joint

committee, in any business or professional field, on a part-time

basis, with or without compensation, shall not be considered as

service or employment bringing such individual within the

provisions of section 281, 283, or 284 of title 18, (FOOTNOTE 1) or

of any other Federal law imposing restrictions, requirements, or

penalties in relation to the employment of persons, the performance

of services, or the payment or receipt of compensation in

connection with any claim, proceeding, or matter involving the

United States.

(FOOTNOTE 1) See References in Text note below.

-SOURCE-

(Feb. 20, 1946, ch. 33, Sec. 11, formerly Sec. 5, 60 Stat. 25; Aug.

2, 1946, ch. 753, title II, Sec. 225, 60 Stat. 838; Feb. 2, 1948,

ch. 42, 62 Stat. 16; Oct. 6, 1949, ch. 627, Sec. 1, 2, 63 Stat.

721; June 18, 1956, ch. 399, Sec. 2, 70 Stat. 290; Pub. L. 86-1,

Feb. 17, 1959, 73 Stat. 3; Pub. L. 88-661, Oct. 13, 1964, 78 Stat.

1093; Pub. L. 90-2, Jan. 25, 1967, 81 Stat. 4; Pub. L. 93-554,

title I, ch. III, Dec. 27, 1974, 88 Stat. 1776; renumbered Sec.

11, Pub. L. 95-523, Sec. 104, Oct. 27, 1978, 92 Stat. 1893.)

-REFTEXT-

REFERENCES IN TEXT

Sections 281 and 283 of title 18, referred to in subsec. (f),

were repealed by Pub. L. 87-849, Sec. 2, Oct. 23, 1962, 76 Stat.

1126, except as they may apply to retired officers of the armed

forces of the United States, and were supplanted by sections 203

and 205 of Title 18, Crimes and Criminal Procedure.

Section 284 of title 18, referred to in subsec. (f), was repealed

by Pub. L. 87-849, Sec. 2, Oct. 23, 1962, 76 Stat. 1126, and was

supplanted by section 207 of title 18.

-MISC2-

AMENDMENTS

1974 - Subsec. (e). Pub. L. 93-554 inserted exception relating to

requirement of vouchers for the disbursement of salaries of

employees paid at an annual rate.

1967 - Subsec. (a). Pub. L. 90-2 substituted ''ten'', ''six'',

and ''four'' for ''eight'', ''five'', and ''three'', respectively.

1964 - Subsec. (e). Pub. L. 88-661 authorized appropriations for

such sums as may be necessary for each fiscal year and eliminated

provisions which limited the authorization to a maximum of $125,000

yearly.

1959 - Subsec. (a). Pub. L. 86-1 added one additional Senator and

one Representative to the Committee, and substituted provisions

requiring the majority party to be represented by five Members and

the minority party to be represented by three Members for

provisions which required representation to reflect as nearly as

may be feasible the relative membership of the majority and

minority parties.

1956 - Subsec. (a). Act June 19, 1956, substituted ''Joint

Economic Committee'' for ''Joint Committee on the Economic

Report''.

1949 - Subsec. (e). Act Oct. 6, 1949, Sec. 1, substituted

''$125,000'' for ''$50,000''.

Subsec. (f). Act Oct. 6, 1949, Sec. 2, added subsec. (f).

1948 - Subsec. (b)(3). Act Feb. 2, 1948, substituted ''March 1''

for ''February 1''.

1946 - Subsec. (b)(3). Act Aug. 2, 1946, substituted ''February

1'' for ''May 1''.

EFFECTIVE DATE OF 1974 AMENDMENT

Pub. L. 93-554 provided that the amendment made by Pub. L. 93-554

is effective Jan. 1, 1975.

EFFECTIVE DATE OF 1946 AMENDMENT

Amendment by act Aug. 2, 1946, effective Aug. 2, 1946, see

section 245 of that act, set out as a note under section 72a of

Title 2, The Congress.

SENATE MEMBERS OF JOINT ECONOMIC COMMITTEE FOR 107TH CONGRESS

Pub. L. 107-20, title II, Sec. 2806, July 24, 2001, 115 Stat.

185, provided: ''That notwithstanding any other provision of law,

and specifically section 5(a) of the Employment Act of 1946 (15

U.S.C. 1024(a)), the Members of the Senate to be appointed by the

President of the Senate shall for the duration of the One Hundred

Seventh Congress, be represented by six Members of the majority

party and five Members of the minority party.''

Similar provisions were contained in Pub. L. 107-3, Mar. 13,

2001, 115 Stat. 5.

AGENCY CONTRIBUTIONS FOR EMPLOYEES OF JOINT ECONOMIC COMMITTEE

Pub. L. 106-554, Sec. 1(a)(2) (title I, Sec. 7), Dec. 21, 2000,

114 Stat. 2763, 2763A-98, provided that:

''(a) Agency contributions for employees whose salaries are

disbursed by the Secretary of the Senate from the appropriations

account 'Joint Economic Committee' under the heading 'JOINT ITEMS'

shall be paid from the Senate appropriations account for 'Salaries,

Officers and Employees'.

''(b) This section shall apply to pay periods beginning on or

after October 1, 2000.''

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1022 of this title.

-CITE-

15 USC Sec. 1025 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1025. Printing of monthly publication by Joint Economic

Committee entitled ''Economic Indicators''; distribution

-STATUTE-

The Joint Economic Committee is authorized to issue a monthly

publication entitled ''Economic Indicators'', and a sufficient

quantity shall be printed to furnish one copy to each Member of

Congress; the Secretary and the Sergeant at Arms of the Senate; the

Clerk, Sergeant at Arms, and Chief Administrative Officer of the

House of Representatives; two copies to the libraries of the Senate

and House, and the Congressional Library; seven hundred copies to

the Joint Economic Committee; and the required number of copies to

the Superintendent of Documents for distribution to depository

libraries; and the Superintendent of Documents is authorized to

have copies printed for sale to the public.

-SOURCE-

(June 23, 1949, ch. 237, 63 Stat. 264; Pub. L. 104-186, title II,

Sec. 217, Aug. 20, 1996, 110 Stat. 1747.)

-COD-

CODIFICATION

Section was not enacted as a part of the Employment Act of 1946

which comprises this chapter.

''Joint Economic Committee'' substituted in text for ''Joint

Committee on the Economic Report'' to conform to act June 18, 1956,

ch. 399, Sec. 2, 70 Stat. 290. See section 1024(a) of this title.

-MISC3-

AMENDMENTS

1996 - Pub. L. 104-186 substituted ''Chief Administrative

Officer'' for ''Doorkeeper''.

-CITE-

15 USC Sec. 1026 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 21 - NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY

-HEAD-

Sec. 1026. Repealed. Pub. L. 94-136, title VI, Sec. 601, Nov. 28,

1975, 89 Stat. 742

-MISC1-

Section, Pub. L. 92-210, Sec. 4, Dec. 22, 1971, 85 Stat. 753;

Pub. L. 93-34, May 14, 1973, 87 Stat. 72, created the President's

National Commission on Productivity and authorized appropriations

for its operation through June 30, 1973. Thereafter, the

Commission's name was changed to the National Commission on

Productivity and Work Quality by Pub. L. 93-311, June 8, 1974, 88

Stat. 236 and appropriations were authorized to continue operations

through November 30, 1975, by Pub. L. 94-42, Sec. 2, June 28, 1975,

89 Stat. 232, and Pub. L. 94-100, Sec. 2, Oct. 1, 1975, 89 Stat.

483. See section 2401 et seq. of this title.

-CITE-