quired for productive, efficient, and profit-
able enterprise;
(iii) to utilize wasted labor power and
improve the productivity of those suffering
from joblessness and poverty; and
(iv) that are, for the most part, con-
ducted under contracts awarded competi-
tively to smaller as well as larger busi-
nesses or such other private sector entities
as non-profit enterprises, cooperatives,
labor unions, neighborhood corporations, or
voluntary associations,
(B) includes a balanced combination of
capital intensive projects, which promote more
off-site employment in basic industries, and
labor intensive projects, which provide for more
on-site employment, through such valuable ac-
tivities as the clean-up, conservation, restora-
tion, or rehabilitation of buildings, grounds, and
land, water and forest resources;
(C) provides for accelerated implementa-
tion of such projects to help meet the varying
employment needs of those people who have
been victimized by long-term unemployment, re-
cession, plant closings, agricultural decline, em-
ployment discrimination, or inadequate edu-
cation or training by implementing activities
such as project analyses, feasibility and cost-
benefit studies, zoning, land acquisition, or site
preparation;
(D) provides for systematic on-the-job
training, including additional classroom edu-
cation, as necessary, for individuals described in
subparagraph (C), together with appropriate
priorities for employing the poor, unemployed,
or displaced living in the immediate neighbor-
hood of any project;
(E) includes action to obtain necessary
funds from various combinations of private,
local, and State resources without undue reli-
ance on Federal funding; and
(F) places all projects in the perspective of
publicly discussed goals for improving the qual-
ity of life in the United States by the year 2000
and the early years of the 21st Century.
SEC. 5. INTERNATIONAL ECONOMIC POLICY TO INCREASE
WORLDWIDE LIVING STANDARDS.
(a) POLICY STATEMENT.—To protect employment,
wage levels, living standards and private industry in the
United States and elsewhere, it shall be the policy of the
Federal government to cooperate with the governments of
other countries and with the United Nations to help de-
velop an international community based on rising living
standards, particularly for those people with the lowest
levels of income, wealth, access to public facilities, free
trade union organization, and political power.
(b) REVIEW OF CERTAIN PROVISIONS OF LAW AND
REGULATIONS.—
(1) 
IN
GENERAL.—The 
President, 
acting
through the appropriate Federal agencies, shall re-
view all provisions of Federal law, including regula-
tions issued under such provisions, that interfere
with the implementation of the policy described in
subsection (a).
(2) SUBMISSION
OF
PROPOSED
CHANGES
IN
PROVISIONS OF LAW AND REGULATION TO THE CON-
GRESS.—The President shall submit to the Congress
proposed changes, if any, in the provisions of law
and regulations described in paragraph (1) for the
purpose of implementing the policy described in sub-
section (a).
(3) CONSIDERATIONS.—In reviewing the provi-
sions of law and regulations under paragraph (1),
and submitting proposed changes in such provisions
of law and regulations under paragraph (2), the
President shall consider the extent to which actions
can be taken to—
(A) 
reduce 
unemployment 
and
underemployment in pre-industrial and indus-
trializing countries by increasing opportunities
for productive paid work and non-wage work
(such as self-employment, parenting, household
work, and volunteering) at higher and steadier
levels of real income without reducing general
levels of employment in the United States;
(B) promote higher levels of wages and
salaries in such countries as will provide larger
markets for their own industries and for ex-
ports of goods and services from the United
States;
(C) withdraw Federal incentives, guaran-
tees, and tax concessions from any United
States-based transnational corporation whose
operations in pre-industrial or industrializing
countries may directly undermine the standard
of living or deny to employees the rights of free
collective bargaining; and
(D) reduce trade barriers without reducing
general levels of employment in the United
States.
(c) CONTRIBUTIONS BY UNITED STATES TO CERTAIN
INTERNATIONAL FINANCIAL INSTITUTIONS CONTINGENT
UPON DEVELOPMENT AND IMPLEMENTATION OF CER-
TAIN POLICIES AND PROCEDURES.—Notwithstanding any
other provision of law, amounts appropriated for the pur-
pose of making contributions to the International Mone-
tary Fund and the International Bank for Reconstruction
and Development may be provided to such Fund or Bank
only if such Fund or Bank, as the case may be, has devel-
oped and implemented such policies and procedures that
will—
(1) raise the standard of living in countries re-
ceiving any financial assistance from such Fund or
Bank, as the case may be, rather than impose aus-
terity; and
(2) contribute to the economic viability, credit
worthiness, and the ability to import goods and serv-
ices into such countries from the United States.
(d) INTERNATIONAL AND REGIONAL CONFERENCES
TO REDUCE UNEMPLOYMENT.—Not later than 90 days
after the date of the enactment of this Act, the Presi-
dent—
(1) shall instruct the United States representa-
tive to the United Nations to propose to the United
Nations the prompt beginning of a series of inter-
national and regional conferences on alternative
methods of planning for the reduction of involuntary
unemployment; and
(2) shall, acting through the Secretary of
Labor, promote the convening in the United States
or elsewhere of international and regional con-
ferences 
on 
coping 
with 
unemployment 
and
underemployment and moving toward fuller employ-
ment in the world.
In carrying out paragraph (2), the Secretary of Labor
shall provide financial and technical assistance to orga-
nized labor and cooperative, community, non-profit and
voluntary organizations, with priority for widespread com-
munication on how best to control facility closings and
capital flight by large businesses and to facilitate
transnational labor organizations and collective bargain-
ing.
SEC. 
6. 
ESTABLISHMENT 
OF 
CONVERSION 
PLANNING
FUND.
(a) IN GENERAL.—In the annual message of the
President to the Congress at the beginning of the first
session of the Congress after the date of the enactment
of this Act, the President shall include a specific proposal
for the establishment of a Conversion Planning Fund (in
this section referred to as the ‘‘Fund’’) to be administered