FOREWORD Presented herewith for the convenience of members of the Joint Economic Committee and other interested persons are the Employment Act of 1946, as amended, with related laws, and the Rules of the Joint Economic Committee. The Employment Act of 1946 was approved February 20, 1946 (60 Stat. 23). The Act as printed herein includes amendments and additions through October 1985, including the extensive revisions made by title I of the Full Employment and Balanced Growth Act of 1978, Public Law 95-523 (Humphrey-Hawkins bill). The related joint resolution of June 23, 1949 (63 Stat. 264), which is also shown herein, is not a part of the Act. Also included are titles II and III of the Full Employment and Balanced Growth Act of 1978, Public Law 95-523, together with the full text of the Act, and titles III and VI (Congressional Budget Process) of the Congressional Budget Act of 1974, Public Law 93344, together with the full text of the Act. Parenthetical references at the end of each section indicate where the section is carried in the United States Code. (III) EDITOR'S NOTE WITH REGARD TO THE COMPREHENSIVE EMPLOYMENT AND TRAINING ACT CITED IN THIS COMMITTEE PRINT Effective with the enactment of the Job Training Partnership Act (Public Law 97-300, approved October 13, 1982), all references in any other statute other than this Act, and other than in section 665 of title 18, United States Code, to the Comprehensive Employment and Training Act are deemed to refer to the Job Training Partnership Act. The Comprehensive Employment and Training Act and section 5(b) of the Comprehensive Employment and Training Act Amendments of 1978 were repealed October 13, 1982. (See secs. 183 and 184, Public Law 97-300.) (IV) CONTENTS (c) Referral to joint committee.. (e) “Inflation"; "prices"; "reasonable price stability" Full employment and balanced growth: Medium-term economic goals and (a) Incorporation of necessary programs and policies (b) Interim numerical goals for initial Economic Reports. (c) Achievement of full employment, balanced budget, zero infla- tion rate, and 20 per centum level of Federal outlays as a proportion of gross national product for succeeding Economic (d) Review by President; report to Congress; modification of timeta- (e) Interim numerical goals for succeeding Economic Reports...... (g) Definition.... (b) Five-year projections of outlays and receipts. (c) Inclusion in Economic Report of President; purposeful develop- ment of expenditure and revenue elements; considerations gov- erning determination of size of President's expenditures and (a) Methods and requirements for achieving price stability (b) Coordination of fiscal or monetary policies with specific targeted (c) Policy initiation and recommendations; elements of structural |