Economic Stabilization Procedure Act
Latest action. Referred to House Committee on Banking and Currency.
Economic Stabilization Procedure Act - Expresses the findings of Congress and declares that the objectives of this Act are to reduce inflation to at least 4 percent per year and to reduce unemployment to an annual rate of not to exceed 3.5 percent, both by December 31, 1975. Creates an Economic Stabilization Board which shall impose, after April 30, 1974, price controls if it finds that the absence of such controls would result in inflation and unemployment in excess of the levels stated in this Act. Directs the Board to take specified hardship, voluntariness, and growth inhibition factors into account in determining the duration, and scope of such price controls. Enumerates additional developmental, monitoring, reviewing, and study-conducting functions of the Board and the Board's administrative powers. Prescribes the procedures for suits for damages or other relief by persons suffering a legal wrong because of this Act. Creates a court of the United States, the Temporary Emergency Court of Appeals, to exercise exclusive jurisdiction of all appeals from the United States district courts in cases and controversies arising under this Act or rules issued under it. Provides for the encouragement of small business enterprises to make the greatest possible contribution toward achieving the objectives of this Act. Authorizes appropriations of $10,000,000 to the Board for fiscal year 1975.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on April 29, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on April 29, 1974: Referred to House Committee on Banking and Currency.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
BROCKMAN ADAMS (D-WA) introduced it on April 29, 1974. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on April 29, 1974, 19127 days ago. The most recent recorded action was 19127 days ago, on April 29, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers