15 U.S.C. § 1022d — President’s Budget

Page 1268 TITLE 15—COMMERCE AND TRADE § 1022c § 1022c. Inclusion of priority policies and pro- grams in President’s Budget To contribute to the achievement of the goals under the Full Employment and Balanced Growth Act of 1978 [15 U.S.C. 3101 et seq.], the President’s Budget for each fiscal year begin- ning after October 27, 1978, shall include priority policies and programs, which shall include, to the extent deemed appropriate by the President, consideration of the following— (A) development of energy sources and sup- plies, transportation, and environmental im- provement; (B) proper attention to the problems and needs of smaller businesses including (i) the availability of investment capital, manage- ment and technical expertise, and technology and labor needs, (ii) analysis of economic and social trends which may affect smaller busi- nesses, (iii) government policies and programs (including agency regulations and excessive paperwork requirements) that may create undue hardship for or reduce the competitive- ness of smaller businesses, and (iv) other poli- cies and programs to remove barriers to com- petition and to strengthen and promote the creation and growth of smaller businesses; (C) development of a comprehensive national agricultural policy that assures— (i) production levels adequate to meet the nutritional needs of all Americans and re- spond to rising food requirements through- out the world; (ii) farm and ranch income at full parity levels that will improve opportunities for farm families, encourage production, provide for essential capital investment in farming, and provide for farm prices at full parity in the market place; (iii) renewed commitment to the protec- tion and conservation of rural land and water through support for improved con- servation practices and research, and atten- tion to agricultural land use in the formula- tion of plans for energy, water and mineral resources, transportation, and commercial, industrial, and residential development; and (iv) support for programs and public serv- ices designed to respond to the unique eco- nomic and social conditions of rural commu- nities; (D) proper attention to the relationship be- tween Federal programs and policies and the problems and needs of urban areas, including inner cities and the employment problems of their residents, especially youths; (E) proper attention to the quality and quan- tity of health care, education and training programs, child care and other human serv- ices, and housing, essential to a full employ- ment economy and to moving toward their availability for all individuals at costs within their means; (F) policies concerning Federal aid to State and local governments, especially for public investment and unemployment related costs; (G) national defense and other needed inter- national programs; (H) proper attention to the relationship be- tween Federal grants, contracts, and procure- ment and the closure of military bases and other Federal facilities and the distribution of jobs and income among different regions of the Nation, and among urban, suburban, and rural areas; (I) proper attention to balancing the Federal budget; (J) proper attention to the dislocation of jobs caused by Federal laws, regulations, and policies; (K) policies and programs designed to in- crease exports and improve the international competitive position of agriculture, business, and industry, including measures to promote a free and fair international trading system, a sound and stable international monetary sys- tem and innovation in agriculture, business, and industry; (L) such other priority policies and pro- grams as the President deems appropriate. (Feb. 20, 1946, ch. 33, § 6, as added Pub. L. 95–523, title I, § 106, Oct. 27, 1978, 92 Stat. 1895.) Editorial Notes REFERENCES IN TEXT The Full Employment and Balanced Growth Act of 1978, referred to in provision preceding par. (A), is Pub. L. 95–523, Oct. 27, 1978, 92 Stat. 1887, which is classified principally to chapter 58 (§ 3101 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 3101 of this title and Tables. § 1022d. President’s Budget (a) Recommendations The President’s Budget shall recommend lev- els of outlays and receipts which shall be con- sistent with the short-term economic goals of section 1022(a)(2)(A) of this title. (b) Five-year projections of outlays and receipts The President’s Budget shall provide five-year projections of outlays and receipts consistent with the medium-term goals of section 1022a(b) of this title. (c) Inclusion in Economic Report of President; purposeful development of expenditure and revenue elements; considerations governing determination of size of President’s expendi- tures and revenue proposals The principal elements in the President’s Budget shall be set forth briefly in each Eco- nomic Report, toward the end of making clear the relationship between the President’s Budget and the goals and policies set forth in such Eco- nomic Report. Both the expenditure and revenue elements of the President’s Budget shall be de- veloped to promote the purposes, policies, and goals of the Full Employment and Balanced Growth Act of 1978 [15 U.S.C. 3101 et seq.]. The size of the President’s expenditure and revenue proposals, and the relationships between such proposals, shall be determined in a manner which gives consideration to the needs of the economy and the people in the priority areas set forth in section 1022c of this title, and the rela- tionship between the President’s expenditure and revenue proposals shall be guided accord- ingly. Page 1269 TITLE 15—COMMERCE AND TRADE § 1023 1 So in original. Probably should be ‘‘and’’. (Feb. 20, 1946, ch. 33, § 7, as added Pub. L. 95–523, title I, § 107, Oct. 27, 1978, 92 Stat. 1896.) Editorial Notes REFERENCES IN TEXT The Full Employment and Balanced Growth Act of 1978, referred to in subsec. (c), is Pub. L. 95–523, Oct. 27, 1978, 92 Stat. 1887, which is classified principally to chapter 58 (§ 3101 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 3101 of this title and Tables. § 1022e. Inflation (a) Methods and requirements for achieving price stability The Congress determines that the objective of achieving reasonable price stability as soon as feasible, as set forth in section 1022(a)(3) of this title and section 1022a(a) of this title, shall be pursued by the methods and subject to the re- quirements of section 1022b(b) of this title. (b) Coordination of fiscal or monetary policies with specific targeted policies The Congress finds that sole dependence upon fiscal or monetary policies or both to combat in- flation can exacerbate both inflation and unem- ployment. The Congress finds that the coordi- nated use of fiscal and monetary policies in con- junction with specific targeted policies are nec- essary to combat inflation. (c) Policy initiation and recommendations; ele- ments of structural policies The President shall initiate specific policies to reduce the rate of inflation, including rec- ommendations to the Congress where necessary, and include recommendations within the Eco- nomic Report and the President’s budget to the extent practicable. Structural policies to reduce the rate of inflation may include— (1) an effective information system to mon- itor and analyze inflationary trends in indi- vidual economic sectors, so that the President and Congress can be alerted to developing in- flation problems especially those caused by bottlenecks inhibiting the flow of goods and services; (2) programs and policies for alleviating shortages of goods, services, labor, and cap- ital, with particular emphasis on food, energy, and critical industrial materials to aid in sta- bilizing prices; (3) the establishment of stockpiles of agri- cultural commodities and other critical mate- rials to help stabilize prices, meet emergency needs, and promote adequate income to pro- ducers; (4) encouragement to labor and management to increase productivity within the national framework of full employment through vol- untary arrangements in industries and eco- nomic sectors; (5) recommendations to increase competi- tion in the private sector and to improve the economic climate for the creation and growth of smaller businesses, including recommenda- tions to strengthen and enforce the antitrust laws, the patent laws, and the internal rev- enue laws and regulations; (6) removal or proper modification of such Government restrictions and regulations as added unnecessarily to inflationary costs; (7) increasing exports and improving the international competitive position of agri- culture, business, and industry; and (8) such other administrative actions and recommendations for legislation as the Presi- dent deems desirable, to promote reasonable price stability. (Feb. 20, 1946, ch. 33, § 8, as added Pub. L. 95–523, title I, § 109, Oct. 27, 1978, 92 Stat. 1898.) § 1022f. Advisory board or boards (a) Establishment An advisory board or boards (including re- gional advisory boards) may be established as the President deems appropriate, to advise and consult periodically with one or more of the fol- lowing: The President, the Council of Economic Advisers, and such other departments and agen- cies of the executive branch of the Federal Gov- ernment as the President shall determine. (b) Composition; duties; compensation Such advisory board or boards shall include appropriate representation of labor, small and larger businesses and industries, agriculture, consumers, State and local officials, and the public at large, and shall advise and consult with respect to matters related to this chapter, the Full Employment aand 1 Balanced Growth Act of 1978 [15 U.S.C. 3101 et seq.], and other ap- propriate matters related to national economic programs and policies. The President shall, in accordance with applicable provisions of law, take the steps necessary to provide appropriate compensation to the members of such advisory board or boards. (Feb. 20, 1946, ch. 33, § 9, as added Pub. L. 95–523, title I, § 111, Oct. 27, 1978, 92 Stat. 1899.) Editorial Notes REFERENCES IN TEXT The Full Employment and Balanced Growth Act of 1978, referred to in subsec. (b), is Pub. L. 95–523, Oct. 27, 1978, 92 Stat. 1887, which is classified principally to chapter 58 (§ 3101 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 3101 of this title and Tables. Statutory Notes and Related Subsidiaries TERMINATION OF ADVISORY BOARDS Advisory boards established after Jan. 5, 1973, to ter- minate not later than the expiration of the 2-year pe- riod beginning on the date of their establishment, un- less, in the case of a board established by the President or an officer of the Federal Government, such board is renewed by appropriate action prior to the expiration of such 2-year period, or in the case of a board estab- lished by the Congress, its duration is otherwise pro- vided for by law. See sections 1001(2) and 1013 of Title 5, Government Organization and Employees. § 1023. Council of Economic Advisers (a) Creation; composition; qualifications; chair- man and vice chairman (1) Creation There is created in the Executive Office of the President a Council of Economic Advisers (hereinafter called the ‘‘Council’’).