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7337109
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President Signs Executive Order Requiring Evaluation of Inflationary Impact of Major Legislation [Signing Statements and Announcements]
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doc
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document
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1
Source metadata
id
7337109
sourceUrl
contentType
document
title
President Signs Executive Order Requiring Evaluation of Inflationary Impact of Major Legislation [Signing Statements and Announcements]
citationUrl
collections
White House Press Releases (Ford Administration)
Press Releases
subjects
Legislation
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1
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7337109
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item
productionDates
day
27
logicalDate
1974-11-27
month
11
year
1974
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description
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nara-archive
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1
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0
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document
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420ed27a4d057c2c
ocrText
Digitized from Box 5 of the White House Press Releases at the Gerald R. Ford Presidential Library
FOR IMMEDIATE RELEASE
NOVEMBER 27, 1974
Office of the White House Press Secretary
THE WHITE HOUSE
The President today signed an Executive Order requiring
evaluation of the inflationary impact of major legislation,
regulations, or rules. The President first disclosed his
intention to require such statements for major initiatives
by the executive branch in his speech to the Congress on
October 8, 1974.
The Executive Order designates the Director of the Office
of Management and Budget to develop criteria for identifying
those major initiatives which require inflation impact
evaluations and to prescribe the procedures for evaluating
impacts. The Order also provides for delegation of its
functions by the Director of OMB to the head of any depart
ment or agency. This delegation authority is provided to
ensure maximum department and agency responsibility in
evaluating potential inflationary impacts of their actions.
The order identifies several general categories of significant
inflationary impact which shall be considered in developing
more detailed criteria. They are:
1. Cost impact on consumers, businesses, markets
or Federal, State, or local governments;
2. Effect on productivity of wage earners,
business, or Government;
3. Effect on competition;
4. Effect on supplies of important products or
services.
The statements will increase awareness by Federal managers
of the full economic impact of their proposed programs.
It will also assure that the economic effects of prospective
government actions are fully analyzed before being put into
effect.
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