HR 1050 IH
trolling inflationary tendencies through a full battery 
of standby policies, including public controls over 
price fixing through monopolistic practices or re-
straint of trade, the promotion of competition and 
productivity, and wage-price policies arrived at 
through tripartite business-labor-government co-
operation. 
(5) LOWER REAL INTEREST RATES.—The es-
tablishment of policies and initiatives to enlarge em-
ployment opportunities through reductions in real 
interest rates. 
(6) PUBLIC WORKS AND SERVICES.—The estab-
lishment of policies and initiatives for including pro-
visions in Federal grant programs and other assist-
ance programs to encourage the planning and fulfill-
ment of public works and public services planning by 
town, city, county and State governments projects— 
(A) to improve the quality of life for all 
people in the area; 
(B) to renovate, and to the extent desir-
able, enlarge the decaying infrastructure of 
public facilities and services required for pro-
ductive, efficient, and sustainable enterprise; 
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(C) to utilize the wasted labor power, and 
nurture the creative energies of, those suffering 
from joblessness and poverty; and 
(D) to have contracts awarded competi-
tively to smaller as well as larger business en-
terprises or such other private sector units as 
non-profit enterprises, labor unions, coopera-
tives, neighborhood corporations or other vol-
untary associations. 
(7) INTERNATIONAL
ECONOMIC
POLICY.—The 
establishment of policies and initiatives to make any 
future financial support for the International Mone-
tary Fund and the International Bank for Recon-
struction and Development to be conditioned on de-
velopment and implementation of certain policies 
and procedures by such institutions, including the 
protection of the rights of women and children, con-
cern for the environment, employees’ right to orga-
nize and to work in safe and healthy conditions as 
will help raise the living standards of those people 
with the lowest levels of income and wealth, thereby 
promoting such higher levels of wages and salaries 
in such countries as will provide larger markets for 
their own industries and for imports of goods and 
services from the United States. 
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(8) INTERNATIONAL CONFERENCES ON UNEM-
PLOYMENT
AND
UNDEREMPLOYMENT.—The estab-
lishment of policies and initiatives— 
(A) to begin working toward the prompt 
initiation of a series of international and re-
gional conferences through the United Nations 
and International Labor Organization on alter-
native methods of reducing involuntary unem-
ployment, underemployment, and poverty; and 
(B) to organize, through the Department 
of Labor, planning seminars and other sessions 
in preparation for a worldwide conference and 
convention of independent labor unions. 
(9) REDUCTIONS
IN
HOURS.—The establish-
ment of policies and initiatives to provide for 
phased-in actions for reductions in the length of the 
work year through longer paid vacations, the prohi-
bition on compulsory return to work of new mothers 
before six months maternity leave, the elimination of 
compulsory overtime, curbing excessive overtime 
through an increase in the premium to triple time on 
all hours in excess of 40 hours in any week, exempt-
ing administrative, executive, and professional em-
ployees from the overtime premium only if their sal-
ary levels are three times the annual value of the 
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minimum wage, reducing the average work week in 
manufacturing and mining to no more than 35 
hours without any corresponding loss in weekly 
wages, and voluntary work-sharing arrangements. 
(10) PART-TIME
EMPLOYMENT
WITH
SOCIAL 
BENEFITS.—The establishment of policies and initia-
tives to increase the opportunities for freely-chosen 
part-time employment, with social security and 
health benefits, to meet the needs of older people, 
students, individuals with disabilities, and individ-
uals with housekeeping, child care, and family care 
responsibilities. 
(11) INSURANCE
PROTECTION
FOR
PENSION 
FUND INVESTMENTS.—The establishment of policies 
and initiatives to encourage more private and public 
investment in those areas of localized depression in 
which people suffer from massive joblessness, over-
crowded schools, overcrowded housing, inadequate li-
brary and transportation facilities, violence and so-
cial breakdown by— 
(A) promoting comprehensive plans for 
raising the quality of life through expanded 
small business activity, middle income housing 
(including rehabilitation) and improvements in 
private and public infrastructure; 
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(B) encouraging private, Federal, State 
and local pension funds to invest a substantial 
portion of their resources in projects approved 
in accordance with such plans; and 
(C) protecting the beneficiaries of such 
funds by whatever insurance guarantees may be 
needed to eliminate the risks involved by enter-
ing areas not normally regarded as profitable 
by banks and other investors. 
(12) OTHER MATTERS.—The establishment of 
policies and initiatives to present and continuously 
adjust proposals, budgets and executive policies and 
initiatives on taxation, Social Security, health care, 
child care, public education, training and retraining, 
the arts and humanities, basic and applied science, 
housing, public transportation, public utilities, mili-
tary conversion, environmental protection, anti-rac-
ism, agriculture, enforcement of anti-monopoly laws, 
public financing of election campaigns, crime preven-
tion, punishment and rehabilitation, and such other 
matters as may be necessary to fulfill the objectives 
of this Act. 
SEC. 5. JOINT ECONOMIC COMMITTEE. 
(a) MONITORING OF ACTIONS UNDER THIS ACT.— 
In addition to its responsibilities under the Employment 
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