Ask the Scholar
Document scope · 1 page
Scholar
Ask about this object, its catalog metadata, its source description, or the page inventory.
For page-specific OCR and visual context, open one of the page chats.
Scholar Source Context
Document identity
localId
7340513
label
President Signs S. 409, extending the life of the Council on Wage and Price Stability [Signing Statements and Announcements]
core
doc
dtoType
document
citationUrl
pageCount
1
Source metadata
id
7340513
sourceUrl
contentType
document
title
President Signs S. 409, extending the life of the Council on Wage and Price Stability [Signing Statements and Announcements]
citationUrl
collections
White House Press Releases (Ford Administration)
Press Releases
subjects
U.S. Senate. (03/04/1789 - )
Legislation
largeImageUrl
imageCount
1
hasImages
yes
source
import
hasTranscription
no
Source extras
naId
7340513
levelOfDescription
item
productionDates
day
11
logicalDate
1975-08-11
month
8
year
1975
recordType
description
ocrSource
nara-archive
Single page context
seq
1
pageIndex
0
type
document
mediaId
af3fae64e89a3728
ocrText
Digitized from Box 14 of the White House Press Releases at the Gerald R. Ford Presidential Library
FOR IMMEDIATE RELEASE
AUGUST 11, 1975
Office of the White House Press Secretary
(Vail, Colorado)
THE WHITE HOUSE
STATEMENT BY THE PRESIDENT
I have signed into law S. 409, the bill which extends the life of the Council
on Wage and Price Stability to September 30, 1977. It also clarifies the
Council's authority to participate in agency rulemaking and other proceedings
where the inflationary impact of a possible action could be significant, and
authorizes the Council to require periodic reports of information from the
private sector.
Nearly a year ago, one of my first acts as President was to request legis-
lation establishing the Council on Wage and Price Stability. I was pleased
then that Congress acted in a swift and constructive way on this legislation,
and I am equally pleased that Congress has extended the tenure of the Council
to help in our battle against inflation. This law continues the Council in
the role for which it was established: an alert watchdog against inflation.
The Council has sought both to inform and represent the public. It has
sp ctlighted unjustifiable price increases in industry and has brought needed
attention to the potentially inflationary consequences of government actions.
In the most serious cases, it has intervened on behalf of the public, as a
participant in government rulemaking.
I believe the Council performs an important role in assisting government
agencies to analyze and understand the important and often overlooked
impact of their rules and regulations. Every major government action
adds new costs to some part of the economy. I am convinced that, through
judicious use of its authority to participate in agency proceedings, the
Council will be an important participant in my Administration's overall
efforts to reduce both the scope and cost of government's interference in
the economy.
I am concerned that Congress has given the Council new authority to require
detailed and periodic reports from the private sector. While Congress has
wisely mandated that any information pertaining to individual firms or persons
must be held strictly confidential and that the authority should be used wisely,
I feel strongly that abuse of this: power would run counter to my belief that
government reporting requirements have become a major burden to our privacy
and freedom. I am confident that the Council will exercise this new authority
with greatest care.
On balance, I believe this legislation ensures that the Council on Wage and
Price Stability will continue as a strong force as it monitors, but does not
control, the actions of private and public organizations. The Council will
continue to be an important instrument in helping us achieve a speedy
return to a healthy and prosperous economy.
#
#
#