II 

109TH CONGRESS 

2D SESSION S. 2815 

To establish the Commission on Economic Indicators to conduct a study 

and submit a report containing recommendations concerning the appropriateness and accuracy of the methodology, calculations, and reporting 

used by the Government relating to certain economic indicators. 

IN THE SENATE OF THE UNITED STATES 

MAY 16, 2006 

Mr. DODD introduced the following bill; which was read twice and referred to 

the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To establish the Commission on Economic Indicators to conduct a study and submit a report containing recommendations concerning the appropriateness and accuracy of the methodology, calculations, and reporting used 

by the Government relating to certain economic indicators. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Commission on Eco5 nomic Indicators Act of 2006’’. 


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1 SEC. 2. FINDINGS. 

2 Congress finds that— 

3 (1) the Federal and State governments and pri4 vate sector entities depend on the economic statistics 

5 published by the Federal Government; 

6 (2) questions have been raised about the accu7 racy of various measures including productivity, pov8 erty, inflation, employment and unemployment, and 

9 wages and income; and 

10 (3) it is essential that these indicators accu11 rately reflect underlying economic activity and condi12 tions. 

13 SEC. 3. ESTABLISHMENT OF COMMISSION. 

14 (a) ESTABLISHMENT.—There is established the Com15 mission on Economic Indicators (in this Act referred to 

16 as the ‘‘Commission’’). 

17 (b) MEMBERSHIP.— 

18 (1) COMPOSITION.—The Commission shall be 

19 composed of 8 members of whom— 

20 (A) 2 shall be appointed by the Majority 

21 Leader of the Senate, in consultation with the 

22 Chairmen and Ranking Members of the Com23 mittee on Banking, Housing, and Urban Affairs 

24 of the Senate, the Committee on Finance of the 

25 Senate, and the Joint Economic Committee; 


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1 (B) 2 shall be appointed by the Minority 

2 Leader of the Senate, in consultation with the 

3 Chairmen and Ranking Members of the Com4 mittee on Banking, Housing, and Urban Affairs 

5 of the Senate, the Committee on Finance of the 

6 Senate, and the Joint Economic Committee; 

7 (C) 2 shall be appointed by the Speaker of 

8 the House of Representatives, in consultation 

9 with the Chairmen and Ranking Members of 

10 the Committee on Financial Services of the 

11 House of Representatives, the Committee on 

12 Ways and Means of the House of Representa13 tives, and the Joint Economic Committee; and 

14 (D) 2 shall be appointed by the Minority 

15 Leader of the House of Representatives, in con16 sultation with the Chairmen and Ranking Mem17 bers of the Committee on Financial Services of 

18 the House of Representatives, the Committee 

19 on Ways and Means of the House of Represent20 atives, and the Joint Economic Committee. 

21 (2) QUALIFICATIONS.—Members of the Com22 mission shall be— 

23 (A) appointed on a nonpartisan basis; and 

24 (B) experts in the fields of economics, sta25 tistics, or other related professions. 


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1 (3) DATE.—The appointments of the members 

2 of the Commission shall be made not later than 60 

3 days after the date of enactment of this Act. 

4 (c) PERIOD OF APPOINTMENT; VACANCIES.—Mem5 bers shall be appointed for the life of the Commission. Any 

6 vacancy in the Commission shall not affect its powers, but 

7 shall be filled in the same manner as the original appoint8 ment. 

9 (d) INITIAL MEETING.—Not later than 30 days after 

10 the date on which all members of the Commission have 

11 been appointed, the Commission shall hold its first meet12 ing. 

13 (e) MEETINGS.—The Commission shall meet at the 

14 call of the Chairman. 

15 (f) QUORUM.—A majority of the members of the 

16 Commission shall constitute a quorum, but a lesser num17 ber of members may hold hearings. 

18 (g) CHAIRMAN AND VICE CHAIRMAN.—The Commis19 sion shall select a Chairman and Vice Chairman from 

20 among its members. 

21 SEC. 4. DUTIES OF THE COMMISSION. 

22 (a) STUDY.—The Commission shall conduct a study 

23 of— 

24 (1) economic statistics collected and reported by 

25 United States Government agencies, including naVerDate Aug 31 2005 04:36 May 20, 2006 Jkt 049200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S2815.IS S2815

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1 tional income, employment and unemployment, 

2 wages, personal income, wealth, savings, debt, pro3 ductivity, inflation, and international trade and cap4 ital flows; and 

5 (2) ways to improve the related statistical 

6 measurements so that such measurements provide a 

7 more accurate and complete depiction of economic 

8 conditions. 

9 (b) CONSULTATION.—In conducting the study under 

10 this section, the Commission shall consult with— 

11 (1) the Chairman of the Federal Reserve Board 

12 of Governors; 

13 (2) the Secretary of Commerce; 

14 (3) the Secretary of Labor; 

15 (4) the Secretary of the Treasury; 

16 (5) the Chairman of the Council of Economic 

17 Advisers; and 

18 (6) the Comptroller General of the United 

19 States. 

20 (c) REPORT.—Not later than 1 year after the date 

21 of the first meeting of the Commission, the Commission 

22 shall submit a report to Congress which shall contain a 

23 detailed statement of the findings and conclusions of the 

24 Commission, together with recommendations for such leg25 islation and administrative actions as the Commission conVerDate Aug 31 2005 04:36 May 20, 2006 Jkt 049200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S2815.IS S2815

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1 siders appropriate, including a recommendation of the ap2 propriateness of establishing a similar commission after 

3 the termination of the Commission. 

4 SEC. 5. POWERS OF THE COMMISSION. 

5 (a) HEARINGS.—The Commission may hold such 

6 hearings, sit and act at such times and places, take such 

7 testimony, and receive such evidence as the Commission 

8 considers advisable to carry out this Act. 

9 (b) INFORMATION FROM FEDERAL AGENCIES.—The 

10 Commission may secure directly from any Federal depart11 ment or agency such information as the Commission con12 siders necessary to carry out this Act. Upon request of 

13 the Chairman of the Commission, the head of such depart14 ment or agency shall furnish such information to the Com15 mission. The Commission shall maintain the same level of 

16 confidentiality for such information made available under 

17 this subsection as is required of the head of the depart18 ment or agency from which the information was obtained. 

19 (c) POSTAL SERVICES.—The Commission may use 

20 the United States mails in the same manner and under 

21 the same conditions as other departments and agencies of 

22 the Federal Government. 

23 SEC. 6. COMMISSION PERSONNEL MATTERS. 

24 (a) COMPENSATION OF MEMBERS.—Each member of 

25 the Commission who is not an officer or employee of the 


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1 Federal Government shall be compensated at a rate equal 

2 to the daily equivalent of the annual rate of basic pay pre3 scribed for level IV of the Executive Schedule under sec4 tion 5315 of title 5, United States Code, for each day (in5 cluding travel time) during which such member is engaged 

6 in the performance of the duties of the Commission. All 

7 members of the Commission who are officers or employees 

8 of the United States shall serve without compensation in 

9 addition to that received for their services as officers or 

10 employees of the United States. 

11 (b) TRAVEL EXPENSES.—The members of the Com12 mission shall be allowed travel expenses, including per 

13 diem in lieu of subsistence, at rates authorized for employ14 ees of agencies under subchapter I of chapter 57 of title 

15 5, United States Code, while away from their homes or 

16 regular places of business in the performance of services 

17 for the Commission. 

18 (c) STAFF.— 

19 (1) IN GENERAL.—The Chairman of the Com20 mission may, without regard to the civil service laws 

21 and regulations, appoint and terminate an executive 

22 director and such other additional personnel as may 

23 be necessary to enable the Commission to perform 

24 its duties. The employment of an executive director 

25 shall be subject to confirmation by the Commission. 


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1 (2) COMPENSATION.—The Chairman of the 

2 Commission may fix the compensation of the execu3 tive director and other personnel without regard to 

4 chapter 51 and subchapter III of chapter 53 of title 

5 5, United States Code, relating to classification of 

6 positions and General Schedule pay rates, except 

7 that the rate of pay for the executive director and 

8 other personnel may not exceed the rate payable for 

9 level V of the Executive Schedule under section 5316 

10 of such title. 

11 (3) PERSONNEL AS FEDERAL EMPLOYEES.— 

12 (A) IN GENERAL.—The executive director 

13 and any personnel of the Commission who are 

14 employees shall be employees under section 

15 2105 of title 5, United States Code, for pur16 poses of chapters 63, 81, 83, 84, 85, 87, 89, 

17 89A, 89B, and 90 of that title. 

18 (B) MEMBERS OF BOARD.—Subparagraph 

19 (A) shall not be construed to apply to members 

20 of the Commission. 

21 (d) DETAIL OF GOVERNMENT EMPLOYEES.—Any 

22 Federal Government employee may be detailed to the 

23 Commission without reimbursement, and such detail shall 

24 be without interruption or loss of civil service status or 

25 privilege. 


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1 (e) PROCUREMENT OF TEMPORARY AND INTERMIT2 TENT SERVICES.—The Chairman of the Commission may 

3 procure temporary and intermittent services under section 

4 3109(b) of title 5, United States Code, at rates for individ5 uals which do not exceed the daily equivalent of the annual 

6 rate of basic pay prescribed for level V of the Executive 

7 Schedule under section 5316 of such title. 

8 SEC. 7. TERMINATION OF THE COMMISSION. 

9 The Commission shall terminate 90 days after the 

10 date on which the Commission submits its report under 

11 section 4. 

12 SEC. 8. AUTHORIZATION OF APPROPRIATIONS. 

13 There are authorized to be appropriated such sums 

14 as necessary to carry out this Act. 

Æ 


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