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(P u b l ic L a w 304— 79 t h C o n g r e s s !
[C h a p t e r 33— 2 d S e s s io n ]
[S. 380]
AN ACT
To dcclare a national policy on employment, production, end purchasing power,
and for other purposes.
,
Be it enacted by the Senate and Home of Representatives of the
United States of America in Congress assembled
SHORT TITLE
S ection 1. This Act may be cited as the “Employment Act of 1946”.
DECLARATION OF POLICY
Sec. 2. The Congress hereby 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
considerations of national policy, with the assistance and cooperation
of industry, agriculturfiT?5roor, 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, con
ditions tinder which there will be afforded useful employment oppor
tunities, including self-employment, for those able, willing, and seeking
to work, and to promote maximma—employment, production, and
purchasing power.
ECONOMIC REPORT OF THE PRESIDENT
S ec. 3. (a) The President shall transmit to the Congress within
sixty days after the beginning of each regular session (commencing
with the jT
ear 1947) an economic report (hereinafter called the “Eco
nomic Report”) setting forth (1) the levels ofcym)loyment, produc
tion, and purchasing power obtaining in the Uniied States and such
levels needed to carry out the policy declared in section 2; (2) cur
rent and foreseeable trends in the levels of employment, production,
and purchasing power; (3) a review of the economic program of the
Federal Government and a review of economic conditions affecting
employment in the United States or any considerable portion thereof
during the preceding year and of their effect upon employment, pro
duction, and purchasing power; and (4) a program for camrinp-out
the policy declared in section 2, together with such recommendations
for legislation as he may deem necessary or desirable.
(b)
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 2.
2
{P tjb. L a w 804.)
(c)
The Economic Report, and all supplementary reports trans*
mitted-under subsection (b), shall, when transmitted to Congress, be
referred to the joint committee created by section 5.
COUNCIL OF ECONOMIC ADVISERS TO THE PRESIDENT
Sec. 4. (a) There is hereby 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 appointqdiap 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 2, and to formulate and recommend national economic policy
to promote employment, production, and purchasing power under free
competitive enterprise. Eacb_jcnember of the Council shall receive
compensation at the rate of $15,000 per annum. 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) The Council is authorized to employ, and fi* the compensation
of, such specialists and other (experts as may be necessary for the
carrying out of its functions under thisA^t, without regard to the
civil-service laws-and the Classification Act of 1923, as amended, and
is authorized, subject to the civil-service laws, to employ such other
officers and employees as may be necessary for carrying out its func
tions under this Act, and fix their compensation in accordance with
the Classification Act of 1923, as amended. ,
(c) 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 infornSBfckRi 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 2 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 sec
tion 2 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 eco
nomic policies to foster and promote free competitive enterprise,
to avoid economic fluctuations or to diminish the effects thereof,
and to maintain employment, production, and purchasing power;
(5) to make and furnish such studies, reports thereon, and
recommendations with respect to matters o f Federal economic
policy and legislation as the President may request.
3
IPtm. L aw 804.]
(d) The Council shall make an annual report to the President in
December of each year.
(e) In exercising its powers, functions and duties under this Act—
(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;
(2) the Council shall, to the fullest extent possible, Utilize the
-services, facilities, and information (including statistical infor
mation) of other Government agencies as well as of private
research agencies, in order that duplication of effort and expense
may be avoided.
(f) lo enable the Council to exercise its powers, functions, and
duties under this Act, there are authorized to be appropriated (except
for the salaries O-^he members and the salaries of officers and
employees of the L'ouncil) such sums as may be necessary. For the
salaries of the members and the salaries of officers and employees of
the Council, there is authorized to be appropriated not exceeding
$345,000 hr the aggregate for each fiscal year.
JOINT COMMITTEE ON THE ECONOMIC REPORT
Sec. 5; (a) There is hereby established a Joint Committee on the
Economic Report, to be compeatfd of seven Members of the Senate,
to be appointed by the President of the Senate, and seven Members
of the House of Representatives, to be appointed by the Speaker of
the House of Representatives. The party representation on the
joint committee shall as nearly as may be feasible reflect the relative
membership of the majority and minority parties in the Senate and
House of Kepresentatives.
. _
(b) It shall be the function of the jdttR^ommittee—
(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 Act; and
(3) as a guide to the several committees of the Congress deal
ing with legislation relating to the Economic Report, not later
than May 1 of each year (beginning with the vear 1947) to file
a report with the Senate and the House 0|£_£g£presentatives
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 Repre
sentatives as it deems advisable.
(c) 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 STOIe
case of the original selection. The joint committee shall select a chair
man and a vice chairman from among its members.
(d) 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, con
sultants,
technicians, and clerical and stenographic assistants, to pro
{P ub . L a w 304.]
4
cure 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 2.5 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)
Therej^ e re b y authorized to be appropriated for each fiscal
year, the sum of $50,000, or so much thereof as may be necessary, to
carry out the provisions of this Section, to be disbursed by the Secretary
of the Senate on vouchers signed by the chairman or vice chairman.
Approved February 20, 1946.
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