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Economic Stabilization Act of 1970

Act of August 15, 1970 (84 Stat. 799)
SECTION 203—Presidential Authority
(a) The President is authorized to issue such orders and regulations as he deems appropriate, accompanied by a statement of reasons for such orders and regulations, to—
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(2) stabilize interest rates and corporate dividends and similar transfers at levels consistent with orderly economic growth.
Such orders and regulations shall provide for the making of such adjustments as may be necessary to prevent gross inequities, and shall be consistent with the standards issued pursuant to subsection (b).
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(b) In carrying out the authority vested in him by subsection (a), the President shall issue standards to serve as a guide for determining levels of wages, salaries, prices, rents, interest rates, corporate dividends, and similar transfers which are consistent with the purpose of this title and orderly economic growth. Such standards shall—
(1) be generally fair and equitable;
(2) provide for the making of such general exceptions and variations as are necessary to foster orderly economic growth and to prevent gross inequities, hardships, serious market disruptions, domestic shortages of raw materials, localized shortages of labor, and windfall profits;
(3) take into account changes in productivity and the cost of living, as well as such other factors consistent with the purposes of this title as are appropriate;
(4) provide for the requiring of appropriate reductions in prices and rents whenever warranted after consideration of lower costs, labor shortages, and other pertinent factors; and
(5) call for generally comparable sacrifices by business and labor as well as other segments of the economy.
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(e) Whenever the authority of this title is implemented with respect to significant segments of the economy, the President shall require the issuance of regulations or orders providing for the stabilization of interest rates and finance charges, unless he issues a determination, accompanied by a statement of reasons, that such regulations or orders are not necessary to maintain such rates and charges at levels consonant with orderly economic growth.
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SECTION 218—Expiration
The authority to issue and enforce orders and regulations under this title expires at midnight April 30, 1973, but such expiration shall not affect any action or pending proceedings, civil or criminal, not finally determined on such date, nor any action or proceeding based upon any act committed prior to May 1, 1973.
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[Formerly 12 USC 1904 note. As amended by acts of Dec. 17, 1970 (84 Stat. 1468); March 31, 1971 (85 Stat. 13); May 18, 1971 (85 Stat. 38); Dec. 22, 1971 (85 Stat. 743); and April 30, 1973 (87 Stat. 27-29). Omitted.]

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