Economic Stabilization Act
Latest action. Referred to House Committee on Banking and Currency.
Economic Stabilization Act - Authorizes the President to issue such orders and regulations as he may deem appropriate to stabilize prices, rents, wages, salaries, profits, dividends, interest rates, and other comparable economic transfers at levels not less than those prevailing on April 30, 1974. States that such orders and regulations shall provide for: (1) the making of such adjustments as may be necessary to prevent gross inequities; (2) wage and salary increases or adjustments, after April 30, 1974, based on the application of cost of living and productivity formulas; (3) price, rent, or interest rate increases or adjustments, after April 30, 1974, based on cost or productivity increases; and (4) profit or dividend increases, after April 30, 1974, attributable to increased productivity, efficiency, or sales or revenues. Provides that the President may delegate the performance of any function under this Act to such officers, departments and agencies of the United States as he may deem appropriate. Stipulates that, not later than 60 days after the date of enactment of this Act, the President or his delegate shall transmit to the Congress a plan setting forth detailed proposals for the implementation of the authority conferred by this Act, including specific descriptions of the manner in which such authority would be exercised and the organizational and administrative provisions which would be used. States that the plan required under this Act shall: (1) be generally fair and equitable; (2) provide for a comparable level of control of all sectors of the economy; and (3) impose comparable duties and sacrifices on individuals and organizations in all segments of the economy.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on December 10, 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 December 10, 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?
JOSEPH GAYDOS (D-PA) introduced it on December 10, 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 December 10, 1974, 18949 days ago. The most recent recorded action was 18949 days ago, on December 10, 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