A bill to increase the authorization for the Council on Wage and Price Stability, to extend the duration of such Council, and for other purposes.
PL 96-508 (S.2352), enacted 12/08/1980

94 STAT. 2748 
PUBLIC LAW 96-508—DEC. 8, 1980 
Public Law 96-508 
96th Congress 
An Act 
Dec. 8, 1980 
[S. 2352] 
Council on Wage 
and Price 
Stability, 
appropriation 
authorization 
and extension. 
12 u s e 1904 
note. 
Inflation 
reduction 
proposals, 
review. 
12 u s e 1904 
note. 
Report to 
Congress. 
12 u s e 1904 
note. 
12 u s e 1904 
note. 
12 u s e 1904 
note. 
Price guideline. 
12 u s e 1904 
note. 
To increase the authorization for the Council on Wage and Price Stability, to extend 
the duration of such Council, and for other purposes. 
Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That (a) section 2(b) 
of the Council on Wage and Price Stability Act (12 U.S.C. 1904 note) is 
amended by striking out the last sentence thereof and inserting in 
lieu thereof the following: "The Council shall be headed by a 
Chairperson who shall be appointed by the President, by and with the 
advise and consent of the Senate.". 
(b) The amendments made by subsection (a) shall apply only to 
individusds who are appointed, on or after the date of the enactment 
of this Act, as Chairperson of the Council on Wage and Price 
Stability. 
SEC. 2. Section 3(c) of the Council on Wage and Price Stability Act is 
amended to read as follows: 
"(c) The Council shall review proposals which have been made for 
reducing inflation through tax-based incomes policies and shall 
submit a report containing its findings, along with recommendations 
and legislative proposals for such policies, to the Congress not later 
than January 15,1981. Such review shall include, but not be limited 
to, tax-based incomes policies designed to provide incentives for 
compliance with wage, price, or proflt-margin guidelines that could 
be provided through changes in personal income taxc i, corporate 
income taxes, investment tax credits, or depreciation allowances. The 
Council shall also review the impact on inflation that might result 
from supply side income tax reductions and include in the report 
required by this subsection its findings pursuant to such review.". 
SEC. 3. Section 5 of the Council on Wage and Price Stability Act is 
amended by striking out "on a quarterly basis and not later than 
thirty days after the close of each calendar quMter" and inserting in 
lieu thereof "on an annual basis". 
SEC. 4. Section 6 of the Council on Wage and Price Stability Act is 
amended by striking out "not to exceed" and all that follows through 
the end thereof and inserting in lieu thereof "not to exceed $9,770,000 
for the fiscal year ending September 30,1981.". 
SEC. 5. Section 7 of the Council on Wage and Price Stability Act is 
amended by striking out "September 30,1980" and inserting in lieu 
thereof "September 30,1981". 
SEC. 6. Section 3 of the Council on Wage and Price Stability Act is 
amended by adding at the end thereof the following: 
"(d) The Council shall not prescribe an annual average price 
increase guideline lower than the percentage obtained by subtracting 
the average annual growth in nonfarm output per man-hour in the 
private sector since 1973, as measured by the Bureau of Labor 
Statistics and stated as a percentage, from the average annual wage 
increase permitted under the voluntary wage standard, stated as a 
percentage.". 
PUBLIC LAW 96-508—DEC. 8, 1980 
94 STAT. 2749 
Annual report. 
12 u s e 1904 
note. 
SEC. 7. (a) Section 3 of the Council on Wage and Price Stability Act Federal 
is amended by adding at the end thereof the following: 
review 
"(e) For the fiscal year ending September 30,1981, the Council shall personnel 
increase the number of positions which involve the review of pro- increase. 
posed and existing Federal regulations by 50 per centum, over the 1
2 use 1
9
0
4 
number of positions allocated for such purpose for the fiscal year '
^
°
*
® 
1980. In conducting such review, the Council shall identify those 
regulations which have the greatest inflationary impact on the 
economy or on specific industry sectors, consistent with subsection 
(a)(8).". 
(b) Section 5 of such Act is amended by adding at the end thereof 
the following: "The annual report shall also contain an evaluation of 
the inflationary impact reviews undertaken by the Council in the 
previous year pursuant to section 3(e), including a listing and descrip-
tion of all regulatory proceedings in which the Council participated, 
the Council's recommended action, the projected cost of each such 
regulation, the cumulative inflationary impact of such regulations 
and the final disposition of each such regulatory proceeding.". 
SEC. 8. Section 2 of the Council on Wage and Price Stability Act is 
amended by adding at the end thereof the following new subsection: 
"(h) The Director shall establish an Office of Productivity which 
shall have as its prime responsibility improving private-sector pro-
ductivity in the United States. Such office shall evaluate the impact 
of government regulations on productivity, shall inventory and 
evaluate Federal programs designed to improve productivity, and 
shall analyze the effects on United States productivity of the factors 
cited in section 3(a)(9) of this Act. The Office of Productivity shall 
annually issue a report to Congress containing the results of such 
evaluations, steps appropriate to improve the effectiveness of such 
Federal programs, and recommendations of new Federal programs 
and policies to increase private-sector productivity growth.". 
SEC. 9. The Credit Control Act is amended by adding at the end 
thereof the following: 
"Sec. 211. Termination 
"The authority conferred by this title expires at the close of June 
30,1982.". 
SEC. 10. In the fiscal year beginning October 1,1980, the aggregate 2 use 60a note. 
amount of funds made available to the Senate shall not exceed 90 per 
centum of the aggregate amount of the funds made available for such 
purposes for the fiscal year beginning on October 1,1979. 
Approved December 8, 1980. 
Office of 
Productivity, 
establishment. 
12 u s e 1904 
note. 
12 u s e 1904 
note. 
Report to 
eongress. 
12 u s e 1910. 
LEGISLATIVE HISTORY: 
HOUSE REPORT No. 96-972 accompanying H.R. 6777 (Comm. on Banking, Finance, 
and Urban Affairs). 
SENATE REPORT No. 96-729 (Oomm. on Banking, Housing, and Urban Affairs). 
CONGRESSIONAL RECORD, Vol. 126 (1980): 
June 2, considered and passed Senate. 
Sept. 24, H.R. 6777 considered and passed House. 
Sept. 30, H.R. 6777 considered and passed Senate, amended. 
Oct. 1, S. 2352 considered and passed House, amended. 
Nov. 20, Senate concurred in House amendment. 
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 16, No. 50: 
Dec. 9, Presidential statement.