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[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 821 Introduced in Senate (IS)]

104th CONGRESS
  1st Session
                                 S. 821

 To require a commission to study ways to improve the accuracy of the 
  consumer price indexes and to immediately modify the calculation of 
                             such indexes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                 May 18 (legislative day, May 15), 1995

Mr. Kerrey (for himself and Mr. Simpson) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL

 
 To require a commission to study ways to improve the accuracy of the 
  consumer price indexes and to immediately modify the calculation of 
                             such indexes.
    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. STUDY REGARDING POSSIBLE BIAS IN CONSUMER PRICE INDEXES.

    (a) Establishment of Study Commission.--There is established a 
commission of 7 members, including the Chairman of the Federal Reserve 
System, to study ways to improve the accuracy of the consumer price 
indexes in stating the rate of inflation in the United States economy. 
Of the remaining 6 members of the commission, the Director of the 
Congressional Budget Office and the Director of the Office of 
Management and Budget shall each appoint 3 members.
    (b) Administrative Provisions.--
            (1) Hearings.--The commission may hold such hearings, sit 
        and act at such times and places, take such testimony, and 
        receive such evidence as the commission considers advisable to 
        carry out the purposes of this section.
            (2) Compensation of members.--Each member of the commission 
        who is not an officer or employee of the Federal Government 
        shall be compensated at a rate equal to the daily equivalent of 
        the annual rate of basic pay prescribed for level IV of the 
        Executive Schedule under section 5315 of title 5, United States 
        Code, for each day (including travel time) during which such 
        member is engaged in the performance of the duties of the 
        commission. All members of the commission who are officers or 
        employees of the United States shall serve without compensation 
        in addition to that received for their services as officers or 
        employees of the United States.
            (3) Travel expenses.--The members of the Commission shall 
        be allowed travel expenses, including per diem in lieu of 
        subsistence, at rates authorized for employees of agencies 
        under subchapter I of chapter 57 of title 5, United States 
        Code, while away from their homes or regular places of business 
        in the performance of services for the commission.
            (4) Staff.--
                    (A) In general.--The Chairman of the commission 
                may, without regard to the civil service laws and 
                regulations, appoint and terminate such additional 
                personnel as may be necessary to enable the commission 
                to perform its duties.
                    (B) Compensation.--The Chairman of the commission 
                may fix the compensation of the other personnel without 
                regard to the provisions of chapter 51 and subchapter 
                III of chapter 53 of title 5, United States Code, 
                relating to classification of positions and General 
                Schedule pay rates, except that the rate of pay for the 
                other personnel may not exceed the rate payable for 
                level V of the Executive Schedule under section 5316 of 
                such title.
            (5) Detail of government employees.--Any Federal Government 
        employee may be detailed to the commission without 
        reimbursement, and such detail shall be without interruption or 
        loss of civil service status or privilege.
            (6) Procurement of temporary and intermittent services.--
        The Chairman of the commission may procure temporary and 
        intermittent services under section 3109(b) of title 5, United 
        States Code, at rates for individuals which do not exceed the 
        daily equivalent of the annual rate of basic pay prescribed for 
        level V of the Executive Schedule under section 5316 of such 
        title.
    (c) Report.--Not later than 1 year after the date of the enactment 
of this Act, the commission shall submit a report to the Secretary of 
Labor and the Congress which shall contain a detailed statement of the 
findings and conclusions of the commission, together with its 
recommendations for such legislation and administrative actions as it 
considers appropriate.
    (d) Authorization of Appropriations.--There are authorized to be 
appropriated $250,000 to the commission to carry out the purposes of 
this Act. Any sums so appropriated shall remain available until 
expended.

SEC. 2. MODIFICATION OF CPI CALCULATION.

    Notwithstanding any other provision of law, with respect to 
calculations made after December 31, 1995, the Bureau of Labor 
Statistics of the Department of Labor shall reduce the annual 
percentage change in the Consumer Price Indexes, as determined without 
regard to this section, by .5 percentage point.
                                 <all>
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