S.3351, TO ESTABLISH A COUNCIL ON INTERNATIONAL ECONOMIC POLICY

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• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80B01495R000200060009-8
• Release Decision: RIPPUB
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• Document Page Count: 17
• Document Creation Date: December 19, 2016
• Document Release Date: August 23, 2005
• Sequence Number: 9
• Publication Date: March 28, 1972
• Content Type: MFR

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28 March 1972
MEMORANDUM FOR THE RECORD
SUBJECT: S. 3351, To Establish a Council on International Economic
Policy
1. Attached are the floor statements by Senator Bill Brock (R. , Tenn. )
when he introduced S. 3351 on 14 March 1972 and S. 2394, the "International
Economic Policy Act of 1971, " on 2 August 1971. Per Senator Brock, the
new bill reflects improvements in the old bill which were suggested by
various governmental and business parties.
2. Both bills have been referred to the Committee on Banking, Housing
and Urban Affairs, of which Brock is a member. The old bill was cosponsored
by Senators Richard Schweiker (R., Pa.), Hubert Humphrey (D. , Minn. ), and
Ted Stevens (R., Alaska), none of whom are on the Committee. The old bill
had no companion or identical bill, and the new bill seems to be a lone entry
also.
3. Brock apparently intends to have his measure reviewed in con-
nection with the Committee's current consideration of the Export Admin-
istration Act which is due to expire this May. As of this date, the Office
of Management and Budget appears to be unaware of the new bill, but comments
had been generated on the old bill with the Council of Economic Advisors
reporting adversely. CEA's report has not been cleared for transmittal to
the Congress pending OMB's review of the comments of other executive
agencies which have been requested but are not in yet.
4. S. 3351 creates by statute a Council on International Economic
Policy already established in the Executive Office by Presidential action.
(a) With respect to the Council, its statutory membership is
composed primarily of policymakers at the department head level,
but the President may designate additional members.
ONLY
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(b) With respect to the Council's specified duties:
(1) One of particular interest to the Agency is to:
"... collect, analyze, and evaluate authoritative
information, current and prospective, concerning
international economic matters.... " (Sec. 104(3)).
(2) The duties include recommendations for "domestic"
as well as f
i
ore
gn programs.
(c) With respect to the "International Economic Report"
the Con re
ss, Agency input would appear to relate to:
(1) ". . . information and statistics describing characteristics
of international economic activity and identifying significant
current and foreseeable trends and developments.... 11 (a)(1)), and (Sec. 105
(2) "... review... foreign economic conditions.... " 105(a) (2)). (Sec.
5. We will continue to see if we can get a reading on the prospects
for S. 3351.
Assis an egis ative Counsel
r ~ E N I USE ONLY
25X1
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CENTRAL IN fELLIGENGE AGENCY
28 March 1972
TO: Dr. Edward Proctor
7E44
Attached is a comment byl on
S. 3351, about which you inquired this morning,
together with relevant excerpts from the
Congressional Record. We will let you know as
soon as we can get a good reading on its prospects.
Please call me if there are any other angles you
are particularly interested in, or if you get any
readings from your contacts in Commerce,
State, etc.
STAT
25X1
25X1
oh}i M. Maury
Legislative Counsel
FORM 1533 OBSOLETE
6-68 PREVIOUs
ED IT IONS
r q2 Office of Legislative Counsel
Washington, D. C. 20505
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 shrouded with forests.
in the eastern half of
the setting retains an
naturalness and, in
quality of wilderness.
ous interesting ge
caves, natural bridges
falls, scenic side cany
Complementing these
significant characteri
appeal is associated w
ing mood.
ural river gorges and
standing beauties of n
which had arisen over
constructing a hydroel
recreation and develop
the Big South Fork.
This report was prin
Works committee of
ble alternatives, includ
a national recreation
concepts included in th
ised the most valuabl
the local economy.
South Fork a resource
the Eastern United Stat
At this stage in the pl
nosal defines the nation
mum of 125,000 acres.
from enactment of thi
pare a in
entplan showin M?
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March 14, 1972 _________ ~~LVLTRESSIONAL RECD ~--
aeastern T e1111es-
in of central AP- vironment and cons rye and develop nat-
tributaries con- ural resources, this proposal includes a
recreation re- comprehensive pla for the New River
is truly wild and watershed, an Important tributary of the
flows through a Big South Fork. T plan would be pre-
bited valley lined pared by the. corps in cooperatio Gw with
t sandstone cnn,,
Surprisingly here tart' of the Interior, t er c of m ed Fsd-
nusual feeling c-
ome places, the Mr. President,~w urge early cons mk-
_nere are nuuler- a
ogic formations available to the p ople of this Nation,
including small the impressive gor es and selected up-
nd arches, water- land areas of the ig south Fork. The
ns, and palisades. area, when made ore available to. the,
eatures are a wide public, will not onl be a model for con-
ana, and a diverse servation of the re ion but will do much
rbulent waters. A to aid in the econ mic development of
throng t stim?latinn of tour-
ne from far and join with senators BAKER, COOPER, and
stic beauty of this CooK in sponsorin legislation to pre-
races have been serve the Big South ork of the Cumber-
Fork. Millions of land River as a ational Recreation
d in the future Area. This proposal rep cents the combined
enjoy these nat-
share these out- efforts of many gro ps and individuals
in Ken+.,,rkv_ Tenne see and throughout
Kentucky spon- proposals which have --- - "--- INTERNAT1uNAi c~v.ry v..-. _
ie Flood Control this scenic area. Ev r since .1962, the Mr. BROCK. Mr. President, there is
y of alternative Army Corps of Engin erg sought to gain no vital area that has been so greatly
lent concepts for congressional author zation to build a neglected by Congress as foreign eco-
An interdepart $200 million 483-f of high hydro- comic policy.
pared and sub- electric dam on the ig South Fork at
very recently, American predominance in
and to Congress. D lting impoundment u d ha e The
d by the Public enormous lake q toting the rapids, the world markets was so overwhelm-
h
ained e Senate. The an six covering the huge bo ders and magnifi- ing that no need was felt for a coordi-
ng among thpossi- em hem among precipices for 29 files upstream. nated foreign economic policy position.
.,, is ^roject "'ate a., proved five times Instead, American decisionmaking au-
report, this one in the Senate and aer au u five times in o in the --- -
to deal with the House Public Wor Committee. For scattered among some 60 agencies and
el
scenic, and his- years a battle of eco omit powers sue- departments of Government. The chief
area and prom- cessfully held off full congressional ap- concern of the State Department, in the
contribution to proval of the dam an reservoir. . tradition of the Marshall plan and for-
In 1968, through the efforts of the dis- eign aid, was to encourage concessions to
we are present- tinguished senior Sei ator from Ken- our trading partners in the interest of
alway championed this promoting friendly relations and ?a
pments in the Without recuullucndi an Since ?---
a would be agent s did an excellent national monetary problems have pointed
in proposals, these
_f ,..yang before t e public the wide to the need for reform of the system.
i make the Big range of use, to Wl== ._ __-_ ._ ---d the d
I feets such andiem iar In blic Cworks of that the Amercan and drastic balance ofe payments,
unparalleled in put re
nning, the pro- prujevt. -- e -
1 river and rec- The six alternatives listed as feasible administration into action. The Presi-
finitive bound- and appropriate were ?he establishment dent suspended the convertibility of the
delineated but of a national park, n tional recreation -dollar into gold, placed a 10-percent cur-
de more than area, a national scent river, and a na- charge on imports, and initiated talks
h Fork and its tional forest, construe ens of the Devils with our major trading partners, aimed
age within the Jump structure, and eaving the area at the realinement of exchange rates and
the lowering, of interest barriers to
iithin 1 year The legislation, bells 1=l U. Vim. . e o rotary John Connally who nego S e-
proposal, the day, would establish a modified version these matters.
establish de- of the interagency stn y ' s -
area and and pre- tion for a national rec eation area. This Although I feel that Secretary Con-
[ deyy~~lQQpment designation was chose for the wide de
-nally{ and the administration diand heroic &g the I `,#'IC~,I@a 21 11d /~74 ~ -I' ~~ ~JI'CWIILOUQbIIQQ~ ...,..,..lust o this crisis
ise and enjoy- original. act In estwbli llllg oi.-?==- --- _
!e generations. teria for the propos-Al Federal reserve. illustrates the need for a more efficient
feasible under the
designations.
completed dammed co
Only a few rivers, such
his inventiveness on nat
I am pleased that the on
area. I believe it a wise d
with a quote from the
tionist, Michael Frome.
genuitty, beyond a doubt.
venuity is to show that
International Economic Policy, and for
Army Corps of
administer this
isfied with this
g South Fork of
park for the en-
now the most
has now been
nal recreation
l's splendid in-
The greater in-
res of the earth
the true test of
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S 3920 CONGRESSIONAL RECORD -SENATE March 14, 1972
governmental 'machinery for handling
and coordinating our foreign economic
affairs.
A first step in this direction was taken
in January of 1971 when the President
created the Council on International
Economic Policy within the Executive
Office of the President. The purpose of
the Council is to provide a clear, top-
level focus on international economic
issues, to achieve consistency between
international and domestic policy, and
to maintain close coordination of inter-
national economic policy with basic for-
eign policy objectives.
By creating this Council, the President
recognized that the formulation and ad-
ministration of foreign economic policy
is plainly a complex task. It invariably
affects other aspects of our foreign rela-
tions. National security is often involved,
and domestic economic policy always is.
As a consequence virtually every Gov-
ernment department participates in de-
veloping and administering some facet
of our foreign economic policy. All of
these strands eventually converge at the
Executive Office of the President, posing
a formidable problem of coordination
and leadership. Until the creation of the
Council on International Economic Pol-
icy, there was no mechanism that could
assume this vital responsibility.
Last August, I called to the attention
of the body the need to establish and im-
prove international economic policy
structure in the Federal Government and
introduced on behalf of myself and the
Senator. from Minnesota (Mr. Huml-
PHREY), the Senator from Pennsylvania
(Mr. SCHWEIKER), and the Senator from
Alaska (Mr. STEVENS), S. 2394, the In-
ternational Economic Policy Act of 1971.
Our legislation recognized the impor-
tance of the Council on International
Economic Policy by placing it on a statu-
tory basis.
I feel that it is essential that the work
of the Council be continued and am to-
day introducing a modified version of
that earlier legislation, for review in
connection with the present consider-
ation of the Banking Commitee of the
Export Administration. Act. The new bill
reflects improvements suggested by vari-
ous governmental and business parties.
I ask unanimous consent that the text
of the\bill be printed in the RECORD at the
conclusion of my remarks.
There being no objection, the bill was
ordered to be printed in the RECORD, as
follows:
S. 3351
Be it enacted by the Senate and House of
Representatives of the United States of Amer;.
ica in Congress assembled,
SHORT TITLE
SECTION 1. This Act may be cited as the
"International Economic Policy Act of 1971".
STATEMENT OF PURPOSES
SEC. 2. It is the purpose of this Act to
provide for closer Federal interagency coordi-
nation in the development of a more rational
and orderly international economic policy
for the United States.
partments, agencies, and instrumentalities
of the Federal Government which, in the ag-
gregate, constitute the domestic and interna-
tional economic policy of the United States.
The Congress further finds that the objec-
tives of the United States with respect to a
sound and purposeful international economic
policy can be better I accomplished through
the closer coordination of (A) domestic and
foreign economic activity, and (B) in par-
ticular, that economic behavior which, tak-
en together, constitutes United States in-
ternational economic policy. It is therefore
the purpose of this title to establish a Coun-
cil on International Economic Policy which
will provide for (A) a clear top level focus
for the full range of international economic
issues; deal with international economic
policies including trade, investment, balance
of payments, and finance as a coherent
whole; (B) consistency between domestic and
foreign economic policy; and (C) close co-
ordination with basic foreign policy objec-
tives. It is the further purpose of Congress
to provide the Council with the opportunity
to (A) investigate problems with respect to
the coordination, implementation, and long-
range development of international economic
policy and (B) make appropriate findings
and recommendations for the purpose of as-
sisting in the development of a rational and
orderly internationaleconomic policy for the
United States. 1
CREATION OF COUNCIL ON INTERNATIONAL
ECONOMIC POLICY
SEC. 102. There is crearted in the Execu-
tive Office of the Prgsident a Council on In-
ternational Economic Policy (hereinafter re-
ferred to in this title as the "Council").
MEi5DERSHIP
SEC. 103. The Council shall be composed of
the following members and such additional
members as the President may designate:
(1) The President.
(2) The Secretary of State.
(3) The Secretary of the Treasury.
(4) The Secretary of Defense.
(5) The Secretary of Agriculture.
(6) The Secretary of Commerce.
(7) The Secretary of Labor.
(8) The Director of the Office of Manage-
ment and Budget.'
(9) The Chairman of the Council of Eco-
nomic Advisers.
(10) The Special Representative for Trade
Negotiations.
The President shall be the Chairman of the
Council and shall preside over the meetings of
the Council; in his absence he may designate
a member of the council to preside in his
place.
DUTIES OF THE COUNCIL
SEC. 104. Subject to the direction of the
President, and in addition to performing such
other functions as hesmay direct, it shall be
the duty of the Council to-
(1) assist and advise the President in the
preparation of the International Economic
Report;
(2) review the activities and the policies of
the U.S. Government which indirectly or di-
rectly relate to international economics and,
for the purpose of making recommendations
to the President in connection therewith,
consider with some degree of specificity the
substance and scope of the international eco-
nomic policy of the United States, which con-
sideration shall include examination of the
economic activities of (A) the various agen-
cies, departments, and instrumentalities of
the Federal Government, (B) the several
States, and (C) private industry;
(3) collect, analyze, and evaluate author-
itative information, current and prospective,
concerning international economic matters;
a more consistent international economic
policy, and make recommendations to the
President in connection therewith.
(5) continuously assess the progress and
effectiveness of Federal efforts to carry out a
consistent international economic policy; and
(6) make recommendations to the Presi-
dent for domestic and foreign programs
which will promote a more consistent inter-
national economic policy on tho part of the
United States and private industry. Recom-
mendations under this paragraph shall in-
clude, but shall not be limited to, policy pro-
posals relating to monetary mechanisms, for-
eign investment, trade, the balance of pay-
ments, foreign aid, taxes, international tour-
ism and aviation, and international treaties
and agreements relating to all such matters.
In addition to other appropriate objectives,
such policy proposals should be developed
with a view toward-
(A) strengthening the United States com-
petitive position in world trade;
(B) achieving equilibrium in international
payment accounts of the United States;
(C) increasing exports of goods and serv-
ices;
(D) protecting and improving the earnings
of foreign investments;
(E) achieving freedom of movement of
people, goods, capital, information, and tech-
nology on a reciprocal and worldwide basis;
and
(F) increasing the real employment and
income of workers and consumers on the
basis of international economic activity.
TITLE I-COUNCIL ON INTERNATIONAL
ECONOMIC POLICY
SEC. 105. (a) The President shall transmit
to Congress within 60 days after the begin-
ning of each regular session (commencing
with the year 1973) a report on the interna-
tional economic position of the United States.
(Hereinafter called the "International Eco-
nomic Report") which shall include-
(1) information and statistics describing
characteristics of international economic so-
tivity and identifying significant current and
foreseeable trends and developments;
(2) a review of the international economic
program of the Federal Government and a
review of domestic and foreign economic con-
ditions and other significant matters affect-
ing the balance of international payments of
the United States and of their effect on the
international trade, investment, financial,
and monetary position of the United States;
and
(3) a program for carrying out the policy
declared in Section 101, together with such
recommendations for legislation as he may
deem necessary or desirable."
(b) The President may transmit from time
to time to the Congress reports supplemen-
tary to the International Economic Report,
each of which may include such supplemen-
tary or revised recommendations as he may
deem necessary or desirable to achieve the
purposes and policy objectives set forth in
section 101.
EXECUTIVE DIRECTOR AND STAFF OF THE COUNCIL
SEC. 106. (a) The staff of the Council shall
be headed by an Executive Director who
shall be appointed by the President. It shall
be the duty of the Executive Director to-
(1) direct the activities of the Council
staff,
(2) develop the agenda and supporting
materials for Council meetings and review all
matters before the Council,
(3) establish a work program, including
topics and the selection of individuals to
carry out particular assignments.
(b) (1) With the approval of the Council,
the Executive Director may appoint and fix
the compensation of such staff as he deems
SEC. 101. ~~~i 3'flhd&'t1 ~kX ~If rita d g Xdf~1~ ~ H~ l ~e ttio of one officer at rate
a e e e satien not to exceed the e rate
many activities undertaken by various de- one another for the purpose of accomplishing now or hereafter provided for level IV of the
 e.Ue -RDP RE CO 0D1495R E060009-8
114 arch App q gd For ReI O
the compensation of two officers at rates of submitted on April
basic compensation not to exceed the rate a broad spectrum
now or hereafter provided for level V of the
Federal Executive Salary Schedule; portance to this
(2) The staff of the Council shall be ap- United Nations an
pointed subject to the provisions of title 5, made a total of 96
United States Code, governing appoint- tions under the bro,
he paid in accordance with the provisions of tional Law," "Ecoi c
(c) With the approval of the Council. the l/1\
as Is authorized by section 3109 of title 5, organizations and
United States Code, at rates not to- exceed . testimony at area
the daily equivalent of the rate now or here- cost. A working gi
after provided for GS 10
any of its personnel to the Council to assist Johns Hopkins U
it in carrying out its duties under this title, hours assessing th
AUTHORIZATION FOR APPROPIATIONS , mulating recomme
SEc. 107. There is authorized to be appro- J. Mangone, Execu
priated each fiscal year such sums as may be Anne P. Simons,
Moss,
PELL,
ferred to the Corn
tions.
GRAVEL, CRANST
COOPER, MUSKIE,
RIS, TUNNEY, HA
feel that now, mor
the 26 years since
tion of the commit
under the Charter of
On July 9, 1970, i
25th anniversary of
President Nixon estal
dent's Commission foi
the 25th Anniversary
across the country an
on their findings. The
GALLAGHER, LLOYD, and
as our former colleagu
Their reportAV6
HARRIS, Mr. TUNNEY,
and Mr. JAVITS):
joint resolution estab-
sion on United States
ted States Participa-
ations.
measure because we
than ever before in
the founding of the
still unrealized po-
zation to which the
look for a better
we accurately and
being done by the
r own implementa-
following an over-
roval by this body.
e United Nations,
lished the Presi-
the Observance of
of the United Na-
d a group of dis-
to hold hearings
to report to him
ongress was well
the Commission
Representatives
MORGAN, as well
~y able leadership of munity.
cox of the School of
onal Studies of the We have done things 1vhich, in the perspec-
iversity, spent long tive of the past 25 yea s, do not seem either
testimony and for. very foresighted or col sistent with the im-
dations Dr Gerard portance which we It ve publicly assigned
to this organization.
ve Director, and Miss
irector of Research, Mr. President, if
ique qualifications to leaders are truly and
jeor State Department ernization of the Uni
headquarters. help it realize its cant
My point, Mr. esident, is that the peace and the lesseni
expectations engen ered by the hearings the establishment of
of the Lodge Com .11 sion and the 96 rec- of law and justice
hit made must not should be doing all we
be permitted to dilack of continuing and to expand the An
attention and cenrn. We all know too organization and it
well that the repoof commisisons, no agencies and in the It
matter how, well t ey work and how of Justice. We have a
worthwhile their fir dings, are too often UN. It is in our highes
forgotten In the e. is of other concerns, to firmly establish th
This must not be lowed to happen to Nations effective mac;
the impressive and onstructive recom- guarantee justice an(
United Nations. The world is too small, justice in the peaceful
its problems too I errelated, and the putes, justice in th
hope for world ord ? and justice under human rights, justice: n law too precious to neglect any avenue and usage of the wor: d's dwindling re,
that may add to the owing effectiveness sources, and enduring
of the United Nation the one organiza- impartial enforcemen
tion that most embodies the hopes of the agreements and the
family of mail. disarmament agreeme
Mr. President, dur g future consider- ployment of United N
ation of the joint re lution which I am lug forces against any
introducing for mysel and my colleagues, The sponsors of thi
I urge that the word of the remarkable believe that it will se
report "To Save S eceeding Genera- purpose to have an Ind
tions," submitted Representative neat congressional- cit
DANTE B. FASCELL and T. IRVING WHALLEY to focus attention on the
Id 0
to the 91st Congress, cond session, fol- specialized agencies, a
n the World
lowing their service delegates to the Court and our our pa - on or lack
24th U.N. General sembly, be kept thereof in these vital
or-
firmly in mind: ganizations. It is simn~y stating a fact
As of now, the Unite Nations is neither of life to say that the
embers of Con-
the conscience of ma d, nor its spokes- press and the approp 'ate committees
man. Rather, it serves as mirror of the com- of Congress and agent
execu-
plex, disjointed, at time unpleasant reality tive branch are too oft it
which exists outside of it.
~c5 .~ W". tine institu-
tion out With those w?ho ade it what t it Is: : arise. We urgently nee an agency which
the he sovereign nations o this world, each
governed by its own a bitions and fears, is removed from the inevitable pres-
each jealous of the prero atives of its Inde- Scares of deCisionmaki g and legislating
pendence. and which can take a dispassionate
The United Nations is i iquely their crea- and detached approac'ore
o the broad picture. It is neither more or less than they tune and provide guinee and recont-
have been willing to make it. mendations to those r ponsible for imThe United States is on of the UN's mem- plementing U.S. polics and programs
bers, partly responsible f this state of- in this absolutely vitarea.
fairs. For although we ha a played a major The Commission O U.S. PartiCi
role in founding this ore nization, and pa-
subsequent experience, ou policies have ens tion in the United Nons, which this
coura ea little real ro t Aid,oyjg] will tablish, should.
its member states. It
pecific recommenda-
the full measure of
the organization nee
held hearings in We have lectured the
.. el -.11 _1_ _ _ ____ fiscal responsibility w
8392.
e virtues of interna-
paid our assessments
e organization's right
world problems but
nited Nations about
le imposing on it
ed Nations and to
Aped potential for
g of tensions and
a worldwide rule
nd freedom, we
can to dramatize
erican role in the
its specialized
ternational Court
vast stake in the
national interest
inery which will
enforcement of
enforcement of
the distribution
of disarmament
employment of
is and the em-
iolator.
joint resolution
zees commission
UN, on the
 SS 12768 Approved For 02,g0060009-8
August 2, 1971
economic development which is aimed
at avoiding or at the very least, minimiz-
Ing the impact of economic disasters.
The situations-which exist today in
communities like Los Angeles, Seattle,
Detroit, Wichita, and others-deanand
immediate attention. The legislation
which I report today is designed to pro-
vide that immediate attention to the
immediate and pressing needs of in-
dividuals and families who are without
jobs.
Mr. MONTOYA subsequently said:
Mr. President, I ask unanimous consent
that the bill which I previously intro-
duced today dealing with the Disaster
Relief Act of 1970 and the amendments
thereto be referred to the Committee on
Public Works.
The PRESIDING OFFICER (Mr.
BUCKLEY). Without objection, it is so
ordered.
By Mr. BROCK (for himself, Mr.
SCHWEIKER, Mr. HUMPIHREY, and
Mr. STEVENS) :
S. 2394. A bill to establish an improved.
international economic policy structure-
in the Federal Government, and for other
purposes. Referred to the Committee on
Banking, Housing and Urban Affairs.
INTERNATIONAL ECONOMIC POLICY ACT OF 1971
Mr. BROCK. Mr. President, last
Wednesday I addressed this Chamber at
length concerning the international fi-
nancial position of the United States. I
also suggested some possible solutions.
Regardless of the specific remedies used
to solve our payments problem, our Gov-
ernment will need organizational reform
and expert help in establishing and coor-
dinating international economic policy.
Through the systematic development of
long-term U.B. Government policies, the
strength of the dollar can be maintained
and expert evaluation of various mone-
tary mechanisms can be completed.
To maintain the strength of the dollar,
to improve our economic policy structure
and to provide for a coordinated Federal
policy on matters, affecting the U.S.
balance of payments, I introduce to-
day, on behalf of myself and the Sena-
tor from Alaska (Mr. STEVENS) and the
Senator from Pennsylvania (Mr.
SCHWEIKER), the International Eco-
nomic Policy Act of 1971.
Title I of this act gives the short title,
International Economic Policy Act of
1971 and a statement of purpose. Among
these purposes are to assist in the better
coordination and long-range develop-
ment of all Government actions and poli-
cies affecting the balance of payments,
trade, investment, and aid; and to pro-
vide the President with long-term analy-
ses and expert advice on areas relating
Title III establishes the Foreign Eco-
nomic Policy Board in the Executive Of-
fice of the President. This Board is to
be made up of five individuals of pro-
fessional excellence appointed for 7-year
terms with no more than three from the
same political party. This would assure
the vital elements of continuity and bi-
partisanship. These experts will be un-
der the direction of the President, with
each President being able to choose his
own chairman from among the members
of the Board. The Board shall analyze
all matters relating to the international
economic policies of the United States.
It will assist and advise the President on
these matters and shall help the Presi-
dent in the preparation of the Interna-
tional Economic Report called for in title
IV of this bill. In essence, this Board shall
be the President's "Council of Economic
Advisor's" in the international field gen-
erally, and specifically where the U.S.
balance of payments is concerned.
To assure maximum coordination with
the Council of Economic Advisers and
their objectives as outlined in the Em-
ployment Act of 1946, the Board .will be
required to maintain close contact with
the Council of Economic Advisers. In ad-
dition, the Board is required to maintain
close contact with the Federal Reserve
Beard and the National Security Council.
The chairman, and one other member of
the Board designated by the President,
shall be ex officio members of the Coun-
cil on International Economic Policy,
thus assuring maximum cooperation be-
tween the Board and the coordinating
Council,
A certain degree of presidential con-
trol is maintained over the Board by
means of tpe Chairman who is appointed
by the President. Yet, it is hoped that
professional, academic, 'and business ex-
perience, of a bipartisan nature, will ex-
ist on the Board by virtue of its 7-year
tenure. Lest this feature detract from this
legielat?ion, calculations show that all
Presidents to the year 2036 would ap-
point at least three members of the
Board except the Presidents taking office
in 1977, 2005, and 2033, who would ap-
point only two new members during
their term.
The purpose of this bill is to move the
complicated international economic pol-
icy structure of the U:S. Government
partly out of the political arena. We need
an expert, analytical discussion of the
problems facing the United States. Too
often, one agency indicates one policy,
while another agency goes' off on an-
other track. Internationally, we must
have one track on which all the "cars"
of Government ride. The Board is to help
the President lay the foundation-the
track-while the Council will help the
President keep the "cars" on the track as
an intergovernmental cooidinating
mechanism.
The Board is required to file an annual
report with the President by January 15
of each year.
act as a guide for the Federal Govern-
ment and the. Congress in establishing
a measure of the demands on U.S. for-
eign exchange. It seeks honesty in the
presentation of U.S. trade figures by re-
quiring statistics both including and ex-
cluding Government-financed exports. In
addition, it requires a review of foreign
economic developments and actions by
trading blocs and nations which might
affect U.S. international receipts. The
President retains the authority to clas-
sify, for national security reasons, cer-
tain information requested provided that
he notifies the Congress of his reasons
for doing so.
Finally, the President is given the op-
tion to use this report as a vehicle for
his report to the Congress on U.S. foreign
policy.
The International Economic Report is
to be referred to the Joint Economic
Committee for review. This committee is
required to report to the Congress on its
findings-a report similar to their review
of the President's Economic Report-by
May 1 of each year. In addition, the In-
ternational Economic Report is to be re-
ferred to the banking committees of both
Houses for further study of any recom-
mendations affecting the value and sta-
bility of the dollar including any mone-
tary mechanisms that may be developed.
Mr. President, after World War II we
applied the lessons of the past to the
challenges of the future by unifying-
more or less-our Armed Forces arid cre-
ating a National Security Council. The
bill I am introducing is intended to apply
the implications of the future to the or-
ganizations of today. Those implications
add up to the preponderance of economic
issues on the scales of national survival-
and indeed, of the survival for the free
world. We can do no less than to adapt
our governmental structure to reflect this
reality.
- Mr. President, I ask unanimous con-
sent that the text of the bill be- printed
in the RECORD at this point.
There being no objection, the bill was
ordered to be printed in the RECORD, as
follows :
Be it enacted by the Senate and House
of Representatives of the United States of
America in Congress assembled,
TITLE I--SHORT TITLE; STATEMENT
OF PURPOSE
SHORT TITLE
SEC. 101. This Act may be cited as the
"International Economic Policy Act of 1971."
STATEMENT OF PURPOSE
SEC. 102. (a) The purpose of this Act is to
strengthen the machinery of the Federal
Government in order to--
(1) assist in better coordination and long-
range development of all Government actions
and policies affecting United States interna-
tional trade, investment, and aid;
(2) assist in the establishment of priori-
ties in the expenditure of United States for-
eign exchange or dollars abroad for all pur-
poses; and
(3) provide for the orderly, long-term
analyses and development, on the basis of
contained in the President's announce-, Title IV requires the President to independent, expert advice, of all Federal
inent of January 19, 1971;. namely, to aid - transmit to Congress, no later than policies related to the international economic
but
in the coordination of all federally March 1 of-each year, an International not limited l no the
to relating ing to trade,
adopted policies dealing with the inter- Economic Report. This report is strut- not to, United policies States,
Investment ,
national eCq~p forei n aid, United States direct stment
States. ^i'' f Fd+ f@I~T& d2a8511 2: 3#i ROP80 30fi693ft90 }6 6 Snbe of payments, monetary
quired in H.R. 8180 and is intended to policy, foreign tax-treaties, international
to the balance of payments.
Title II establishes by statute what the
President has already done by adminis.
trative action. It establishes the Council
on International Economic Policy in the
Executive Office of the President. The
Council's function is to be the same as
 August 2, ved For Rel> &&( 1(2 ~~C~IA ~P ( 01 00060009-8
(b) The objectives of such policies should
include, but not be limited to-
(1) strengthening the competitive posi-
tion of the United States in world trade;
(2) balancing the international payment
accounts;
(3) increasing exports of goods and serv-
ices;
(4) protecting and improving the earnings
of foreign investments, and
(5) achieving the free movement of peo-
ple, goods, capital, information and technol-
ogy on a reciprocal and worldwide basis.
TITLE II-COUNCIL ON INTERNATIONAL
ECONOMIC POLICY
ESTABLISHMENT OF COUNCIL
SEC. 201. There is established in the Exec-
utive Office of the President a Council on
International Economic Policy (hereinafter
referred to as the "Council") whose function
shall be to assure coordination in the devel-
opment and executive of all Presidentially-
approved Federal policies affecting the inter-
national economic relations of the United
States. The Council shall operate at the
pleasure of the President and under such
rules as he shall prescribe and shall be com-
posed of such members as the President
deems necessary, except that the Chairman
and at least one other member designated by
the President of the Foreign Economic
Policy Board established under title III of
this Act shall be an ex officio member of the
Council.
EXECUTIVE DIRECTOR AND STAFF
SEc. 202. (a) The Council shall have a
staff to be headed by an Executive Director
who shall be appointed by the President. His
duties shall be prescribed by the President.
(b) The Executive Director, subject to the
direction of the Council, is hereby author-
ized to appoint and fix the compensation of
such personnel as may be necessary to per-
form such duties as may be prescribed by
the Council in connection with the per-
formance of its functions,
(c) Section 5314 of title 5, United States
Code (relating to level III of the Executive
Schedule), is amended by adding at the end
thereof the following new item:
"(58) Executive Director, Council on In=
ternational Economic Policy."
APPROPRIATION OF FUNDS
SEC. 203. There is hereby authorized to be
appropriated such sums as may be necessary
to carry out the provisions of this title.
TITLE 111-FOREIGN ECONOMIC
POLICY BOARD
ESTABLISHMENT OF BOARD
SEC. 301. There is established in the Execu-
tive Office of the President a Foreign Eco-
nomic Policy Board (hereinafter referred to
as he "Board"). The Board shall be com-
posed of five members who shall be appointed
by the President, by and with the advice and
consent of the Senate, each of whom shall
be a person who,. as a result of his training,
experience and attainments, is exceptionally
qualified to analyze and interpret interna-
tional economic developments, to appraise
programs and activities of the Federal Gov.
ernment related to foreign economic policy,
and to formulate and recommend foreign eco-
nomic policy to strengthen the international
financial and economic position of the
United States with respect to those purposes
enumerated in section 102(x) of this Act not
more than three members shall be from the
same -political party. The President shall,
from time to time, designate one of the mem-
bers to serve as Chairman.
TERMS OF MEMBERS AND SALARY LEVELS
(3) one for a term of four years;
(4) one for a term of six years; and
(5) one for a term of seven years.
Each member thereafter appointed shall be
appointed for a term of seven years com-
mencing on the day after the expiration of
the preceding term, except that a member
appointed to an unexpired term shall be
appointed for the remainder of that term.
(b) The Board shall meet at the call and
under the direction of the Chairman.
(c) A quorum of the Board shall consist
of three members. A vacancy shall not affect
the power of the Board and shall be filled in
the manner provided by section 301(d) (1).
Section 5312 of title 6, United States Code
(relating to level I of the Executive Sched-
ule), is amended by adding at the end thereof
the following new item:
" (13) Chairman, Foreign Economic Policy
Board."
(2) Section 5313 of such title (relating to
level II of such schedule) is amended by add-
ing at the end thereof the following new
item:
"(21) Members, Foreign Economic Policy
Board."
EMPLOYMENT OF PERSONNEL
SEC. 303. The Board is authorized-
(1) to appoint and fix the compensation
of such specialists. and other experts as may
be necessary to assist the Board in carrying
out its functions under this title, without
regard to the provisions of title 6, United
States Code, governing appointments in the
competitive service, and without regard to
the provisions of chapter 51 and subchapters
III and VI of chapter 53 of such title relating
to classification and General Schedule pay
rates, except that no rate of compensation
may exceed the rate of basic pay received by
an individual paid under level IV of the
Executive Schedule contained in section 5315
of such title; and
(2) to appoint and fix the compensation
of such other personnel as may be necessary
to assist the Board in carrying out its func-
tions under this. title.
FUNCTIONS
SEC. 304. It shall be ? the function of the
Board, under the direction of the President-
(1) to assist and advise the President in
the preparation `of the International Eco-
nomic Report provided fc- under title IV of
this Act;
(2) to gather timely and authoritative in-
formation concerning international economic
developments and international economic
trends, both current and prospective; to ana-
lyze and interpret such information for the
purpose of determining whether such devel-
opments and trends are interfering, or are
likely to interfere, with the United States
foreign trade, travel, and investments, and
other policies enumerated in section 102(a)
of this Act; and to compile and submit to
the President studies relating to such de-
velopments and trends;
(3) to establish priorities on the use of
United States foreign exchange earnings con-
sistent with a policy to maintain the
strength of the dollar by increasing such
earnings through recommended actions;
(4) to appraise the various programs and
activities of the Federal Government for the
purpose of determining the extent to which
such programs and activities are contribut-
ing, and the extent to which they are not
contributing, to the achievement of the ob-
jectives set forth in section 102(b) of this
Act, and to make recommendations to the
President with respect thereto;
(5) to develop and recommend to the
President international economic policies to
foster and promote United States interns-
SEC. 302. (a) The members of the Board tional trade and investment; to further the expenditures in the coming year divided so
first appointed under eectigqxI301 , i be $~~$,o~~s f e II~,t~;o 1 v 1- e~ t ~s, 10 c to separately all commercial
appointed for to i;f~6lovg Or Ke ease ]mBIIJOib1fhb Irk fl - (}i~ 0111 i 11~t1~ -t6pposed to government
(1) one for a term of two years; lar through positive actions which will In. 'transactions) and all special financing trans-
crease the United States foreign exchange
earnings; and to further the objectives set
forth in section 102(b) of this Act; and
(6) to make and furnish such studies, re-
ports and recommendations with respect to
matters of Federal international economic
policy and legislation as the President may
request.
ANNUAL REPORT
SEC. 305. The Board shall make an annual
report to the President by January 15th of
each year concerning its activities during the
CONSULTATION WITH OTHER' GROUPS AND AGEN-
CIES: UTILIZATION OF GOVERNMENT SERVICES
PRIVATE RESEARCH AGENCIES, ACCESS TO IN-
FORMATION
SEC. 306. (a) The Board may establish
such advisory committees and may consult
with such representatives of industry, agri-
culture, labor, consumers, State and local
governments, and other groups, as it deems
advisable.
(b) The Board shall, to the fullest extent
possible, utilize the services, facilities, and
information (including statistical informa-
tion) of other Government agencies as well
as of private research agencies, in order that
duplication of effort and expense may be
avoided.
(c) The Board shall have access to all in-
formation of the Federal agencies related to
United States foreign trade and investment,
and national employment related thereto,
and to all information relating to the ex-
penditure of foreign exchange or expendi-
ture abroad of dollars by the Federal Govern-
ment.
(d) The Board shall consult with all agen-
cies of the Federal Government and any
other individual or organization it deems
necessary in the consideration of its recom-
mendations to the President.
(e) The Board shall consult regularly with
the National Security Council, the Council
of Economic Advisors, the Federal Reserve
Board, and the Council on International
Economic Policy.
(f) The Board shall have access to all in-
formation of the Federal Government relat.
Ing to the international monetary position of
the United States including actions of the
exchange stabilization fund and any inform-
ation relating to any obligations of the Fed-
eral Government which involves guarantees
or repayments in gold, foreign exchange, or
the expenditure of dollars abroad,
SAFEGUARDING OFFICIAL INFORMATION
SEC. 307. The Board shall take all appro-
priate steps to safeguard confidential In-
'formation as outlined in Executive Order
10501 (Nov. 6, 1953, 18 F.R. 7049), as amend-
ed, or as may from time to time be provided
by the President.
AUTHORIZATION OF FUNDS
SEC. 308. To enable the Board to exercise
its powers and functions under this title,
there are hereby authorized to be appro-
priated such sums as may be necessary.
TITLE IV-INTERNATIONAL ECONOMIC
REPORT
REPORT BY THE PRESIDENT
SEC. 401. The President shall transmit to
Congress not later than March 1 of each year
a report on the international economic posi-
tion of the United States during the preced-
ing year (hereafter referred to as the "Inter-
national Economic Report").
The Report shall set forth the following-
(1) a comprehensive foreign exchange
budget for the Federal Government which
shall include all foreign exchange received
and expended during the previous year and
all expected foreign exchange receipts and
 S 12770 CONGRESSIONAL RECORD - SEl'I E . August 2, 1971
actions engaged in by the Federal Govern- REFERRAL TO COMMITTEES to eradicate or control certain animal
ment which have the effect of reducing or SEC. 403. The International Economic Re- diseases, but VEE and African swine
increasing any measure of the balance of port, and all supplementary reports trans- fever are not included. It seems to me
payments surplus or deficit. Such foreign ex- mitted under section 402 of this Act, shall, that the Department should have the
change budget shall in no way limit the Fed- when transmitted to Congress, be referred to
eral Government in its expenditures abroad the Joint Economic Committee, the Bank- authority to all it can to prevent the
but shall be used for information purposes ing and Currency Committee of the House spread of these diseases to the United
in establishing United States priorities In of Representatives, and the Banking, Hous- States once they are detected in Mexico
the use of foreign exchange and dollars ing and Urban Affairs Committee of the or Central America. The two bills I am
abroad. In addition, the foreign exchange Senate. Such committees shall make a con- introducing today would give the De-
budget shall include, but not be limited to, a tinuing study of matters relating to the In- partment that authority. No effort should
separate breakdown of the receipts and ex- ternational Economic Report and such sup- be spared to prevent the spread of the
penditures involved in. United States aid to plementary reports.
foreign countries and organizations ?(bi- very dangerous African swine fever and
lateral and multilateral), the actual dollar REPORT BY JOINT ECONOMIC COMMITTEE hopefully cooperative programs with
outflows and all income of United States SEC. 404. As a guide to the committees of Mexico and Central America can accom-
direct private investment abroad, the receipts the Congress considering legislation relating push this objective.
and expenditures on the United States inter- ' to the International Economic Report, the
national trade account (both excluding and Joint Economic Committee shall, not later
including government-financed exports), the than May 1 of each year (beginning with the By Mr. COOK:
receipts and expenditures on the tourism ac- year 1972), file a report with the Senate and S. 2397. A bill to amend the Airport
count, and the receipts and expenditures on House of Representatives containing its find- and Airway Development Act of 1970 in
the service and capital accounts, so as to ings and -recommendations with respect to order to provide that the Federal share
indicate the United States balance of pay- each of the main recommendations made by shall not exceed 70 percent of allow-
ments position; the President In the International Economic able project costs except with respect to
(2) a review of the priorities involved in Report, and from time to time make such landing aids. Referred to the Committee
the projected uses of United States foreign other reports and recommendations to the on Commerce.
exchange and dollars abroad in all sectors, Senate and House of Representatives as it the, Mr. COOK. Mr. President, the 91st
both government and private; deems advisable. ....,~r.~ Congress enacted H.R. 14465, the Airport
(3) a review of significant matters affect- and Airway Development Act of 1970
ing the balance of payments and the inter- By Mr. MILLER (for himself and
national trade and investment position of the Mr. TowER) : (Public Law 91-258). In the declaration
United States including, but not limited to, S. 2395. A bill to amend the Act of of policy, the Congress stated-
matters discussed and actions taken by inter- February 28, 1947, as amended, to au- That the Nation's airport and airways sys-
national institutions and assemblies such tem is inadequate to meet the current and
as the United Nations, the International thorize the Secretary of Agriculture to
Bank for Reconstruction and Development, cooperate with the Republic of Mexico pojected growth in aviation.
the Inter-American Development Bank, the in the control and/or eradication of any The Congress further declared-
Asian Development Bank, the Organization communicable disease of animals In or- That substantial expansion and improve-
for Economic Cooperation and Development. der to protect the livestock and poultry ment of the airport and airway system is re-
and under the General Agreements on Tariffs industries of the United States; and quired to meet the demands of interstate
and Trade; S. 2396. A bill to amend the Act of commerce, the postal service, and national
(4) a review of foreign economic develop- July 6, 1988, to authorize the Secretary defense.
ments and actions by trading blocs and indi-
vidual nations which appreciably affect the American countries in the control and/or These statements are as true today as
United States balance of payments, intern- they were a year ago. Under current law
tional trade and investment; eradication of any communicable dis- -they will be just as valid, 5, 10 or even
(5) a review of international monetary. ease of animals in order to protect the 20 years from now. The reason is sim-'
matters affecting the United States balance livestock and poultry industries of the ple-the States and municipalities can-
of payments and the strength of the dollar; United States. Referred to the Commit- not match the Federal funds available
(6) a review of all significant matters tee on Agriculture and Forestry. under this act on a 50-50 formula.
affecting, or likely to affect, the United States Mr. MILLER. Mr. President, I intro-
balance of payments or the strength of the duce for myself and the senior Senator However, the -act itself does provide
United States dollar abroad, Including, but exceptions to the 50-50 Federal-State
not limited to, the balance of payments effect from Texas (Mr. TOWER) two bills to matching formula. Projects in the Vir-
of United States bilateral and multilateral amend various provisions of existing law gin Islands and in those States where the
aid (including any loss or gain in United in order to authorize the Secretary of Federal Government owns at least 5 per-
States exports resulting from the use of any Agriculture to cooperate with Mexico cent of the land may qualify for up to
United States aid monies for procurement and the Central American countries in 75 percent of Federal funds. All States-
outside of the United States), international the control and eradication of any com-
commodity agreements, and restrictions of and rightly so, I believe-are eligible to
trading blocs or. nations on United States municablo disease of animals in order to receive up to 82 percent of allowable costs
trade (including United States agricultural protect livestock and poultry industries for landing aids, such as land acquisition
exports) and investments; in the United States. for the installation of approach light
(7) a review of the net expenditure of for- All of us are very much aware of the systems, centerline runway lighting and
eign exchange or dollars abroad (exclusive outbreak of Venezuelan equine enceph- high density lighting. These Federal ben-
of any special financial transactions) for the alomyelitis. Since the first case of this efits should be extended.
cost of United States peaceful defense forces disease was confirmed on July 9, over
and establishments and a review of any bur- Mr, President, today I am introducing
den sharing provided by 1,30e horses have died and over 1,800
host nations to the a bill which would allow all States to re-
foreign exchange costs involved. have been reported sick with the sus- ceive up to 75 percent of Federal match-
(8) recommendations as to the positive ac- pected VEE since the disease moved ing funds on approved airport develop-
crease if any, that need to be taken to in- across the border from Mexico. Presently mrojects. This puts the primary
crease the foreign exchange earnings or for, horses in 11 States-from California to rit
burden pro financial responsibility imar
!sign dollar earnings of the United States;, Florida are being vaccinated to establish
and a coast-to-coast barrier against the it should be-on the Federal Government.
(9)? at the discretion of the President, a northward spread of this disease. Also, Aviation is not 'a State or local prob-
statement on the foreign policy of the United extensive mosquito spraying is being lem; it is truly a Federal one. Through
States.
ent For national
any securit
rthe
e- carried out to try to contain the spread the instrumentalities of the Federal
quested in paragraphs '(2) through (8), but of the disease. Aviation Administration and the Civil
shall notify the Congress of his reasons for Another disturbing piece of informa- Aeronautics Board, Air Transport Is one
doing so. tion to the livestock producers is that ? of the most federally regulated indus-
SUPPLEMENTAL REPORTS African swine fever has recently been tries in the country.
SEC. 402. The President may transmit from found to be present in Cuba. This is a Also, the present matching fund for-
time to'time-to the Congress supplementary highly contagious animal disease for mula makes even less sense when viewed
reports to the International Economic Re-' which there is no known vaccine or cure. in terms of other Federal programs. The
sup-
port, each of yyw~~hich *S.shaaall Include ~ such s Hi hway System is con-
plementary rd c ~1 E tb 2 ~~~G4>kU?C1~QQ~8
y o . percent of Federal funds.
he e may de s eft r
achieve the purposes and objectives declared , erate with Mexico and the Central Amer- Only last year the Congress increased the
in section 102 of 'this Act. ? lean countries in. carrying out measures Federal share of noninterstate Federal
 Approved For Release 2005/11/23 : CIj-RD 5ROQ aQ; ?09-8
~J
02n CONGRESS
2D SESSION
IN THE ,SEWIVI'I+; OF, TIIIi; PNITE'D STATES
I
Ablu'ii 1'1, I972
MT. I3fOax inlrrOilncal l.lu; :following bill; ~ti~l~icli wits r~~;i~l twice and r~~,fc.rred
to 'Hi(; Co-n-nii;i(q., On. Btuul:ing, Housing and TTrlmn Affairs
To e51,ahlisl- tL .('o-u-~~il on Inlern,il.io--;-1 .I+1'cono-nic Policy, ,nnd
for other purposes.
Be it emicled by liw Seir.ate cirad 'louse of l ej)resentca-
2
lives o/ the United States of A
mevica in Con vess assembled,
4
5 ,c~,~rc>v (. 7'I-is 11c t ~--,~y
he cited >s the fill ormli.iolml
5
Economic Policy Act of 1971".
6
... ST1ArENT O
P
7
SL~,? It is the purpos
e of this Act to provide for
8
closer Pedeninlet gency coordination in the development
9
of :ti More rational and orderly international economic policy
10
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 . Approved For Rele,aje 2005/11/23 : CIA-RDP80BO1495R000200060009-8
1 TITLE I-COUNCIL ON INTERNATIONAL
2 ECONOMIC POLICY
FINDINGS AND PURPOSE
4 S m. 101. Tllo Congress finds that there are many
5 activities undertaken by various departments, agencies, and
6 instrumentalities of the Federal Governrrierrt which, in the
7, aggregate, constitute the domestic and international economic
8 policy of the, United States. The
Col- Tess ;f.n~lli~r' finds
15
that the -objectives of the-United States with respect to a
sound and purposeful international economic policy can
be better a.ecomplislled through tire' closer coordination of
(11.) dolncstic and foreign economic activity, and (13) in
particular, that economic behavior which, taken together,
constitutes United, States international economic policy. It
is therefore the pi rpose of this title to establish it Council
on International Economic Policy which will provide for-
(A) a cldar. top' level focus for the full range of
international economic issues; deal with international
economic policies including tra.dq
" iuvostrrrent, balance
zQ of pa,yrnents, and finance as a coherent whole;
21 (I3) consistency between domestic and foreign ceo-
19
22 Yromie policy;
23' (C) close coordination with basic foreign policy
24 objectives.
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25 It is the further purpose of Congress to provide the Council
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3
1 with the opportunity to' (A), investigate problems with re-
2 spoct to the coordination, implementation, and long-range
3 development of international economic policy, and '(B) make
4 appropriate findings and. recommendations for the purpose
5
7
8
9
10
11
X12
13
of assisting in the developn ient of a rational and orderly
international economic -policy for. tho United States.
CREATION OF COUNCIL ON INTERNATIONAL ECONOMIC
POLICI ' , .
SE,,c. 102. Micro is created in the Executive Office of,
the President a Council on International Economic Policy
(hereinafter referred to in this title as the, "Council") .
MEMBERSHIP
SEC. 103. The Council shall be composed of the fol-
14 lowing rnambers and such additional members as the Pr'esi-
rw
dent may designate:
(1.) Tu e i rosidellt.
:17 (;) The Secretary,of State.
.18 (.;) TI e Sccretar'y of tlio'1'reastu'y.
_19 (1) 'file Secretary'of Defense.
20 (5) The Secretary of Agriculture.
2 1 ((,') '.l'Iie Secretary of Con11nerce.
22 (7) The Secretary of Labor.
23
Approved
(8) The Director of the Office of Management
and Budget.
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4
1 (9) The Chairman of the Council of Economic
2 Advisers.
3 (10) The Special Represcntativo for Tnule Nego-
4 tiations. 5 The President shall he tiw Chairman of the Cou ncil and
6 shall preside over?'ilic nleeiin;s of the G5uncil; in his ab-
sence he may designate a member of the Council to preside
in his place.
10 SIX. 104. Subject to the direc(ioli ol.` the President, and
11 in addition to performing such other functions as lie may
12 direct, it shall be 'the duty of the Council. to-
13 (1) assist and advise the President in the prepara-
14 Lion of the T-terpational ]Elconoruic Report;
15 (2) review the activities and LIw policies of 1111'
16 United States Covernn-elt which indirectly or directly
17 relate to .n-1.ernntiQual economics and, for the l-url-oso oI'
1.8 nrlldn'; recoililucud'-ltiolls to the .President, ill councction
1.9 therewitl-, consider Witl- sonic (lo ree of sI)ec,ificily tl-e
20 ,,
slcl~sia.ucc and scope, of the, iutcrl-;ltioual c conoulic, policy
21 of the United States, which consi.deratiou shall include
?
'22
cxainiua.tiou of the economic, activities of (A) the vari-
23 ous agencies, del-artuients, and instrumentalities of the
2-1
Approved For Release K")
25 private industry;
 - Approved For ReIe, a 2005/11/23 : CIA-RDP80BO1495R000200060009-8
X (4) consider policies and programs for coordina.till, g
2 title aobiviti,es of all the deParbrnents am l agencies of
3 the United States with one another for the purpose of
4 a,C('+(-!nlj)IP5ll.hl a 111~(1l'(' (3o714 tollt ild.ed?naLt]Olltll eC(-llk}mic.
Policy, and make recolnnlelldaltions to the President in
G conlleetlolI 1,11ereWltll; . ? -
(r>~ colllil111011sIy' :1tisess 1f1(;rogress and (,Iie('tiVe-
llirss of Feder ,11 e?Iiorls Ito cairy' out consistent' inter-'
nat,ionall ecc,iic-IUic l)olicy; and +
((i) make rocolllrnell(1,ltions to the President for
uo,nestac an (1. torei;O'l- progralrls which ' will promote a
tll(,re collsist:ellt illic iI11111Oll~ll` ecoiloI111c 1011(y OR the part
of Ole Illliled Slafes and 1,I.;Vza' illd11stry. Iiec.oulnlenda-
14 bolls 1lndcr this paragraph shall include, but "}11t.11 not be
r
t,1 liniited to, policy Proposals relating to monetary lnecha-
n
C
lslnti,
orelgll luvestlnenl:, trade, the balance. of pay-
- In('llts, f(,1'('lrill ,11(1, Ill X; illte,l?Ilatiollal tollrisill aln(1 avid,
r- it--tl 1)11d ual iollal I rea l ics and algreeluetlts relating
I:i to ,111 finch lrultters. In addit:iou to otllel' a1)propriate'
20
(, -i(.c,tlves, snel- policy 1)l>posills should be, developed
z1, wiIii view townrd-
sircllgiheuiug the United
States conrpeti-
GAS tlve posltlotl ill world trade;
2?t:
(B) achieving egIlililn'innl in international )ayy-
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Q-t(, ~, accolnl 8 o t 1e United Statt.es;
 Approved For Release 2005/11/23 : CIA-RDP80BO1495R00 200060009-8
(C) increasing exhorts of good", and services;
(D) Protecting and imhroviiig the earnings of
fol'Cigli I11'vost111Qllts; ,
'(TIC) riellieving free(lom'of movement of people,
goods, Capital, inl'or16atioll, alld technology on a.
rcCiprocal an (1 worl(lwi(le b11lsis; a11(1
(II') ine.rcllsillg the rvill e111phoV-n('11t. 1111(1 ill-
come 'Of Workers and c:o-ISlnllers oil ;t,ho' Zia is of
ililenin .iolull ecouolll'ic lied,ivit,y.
.10 .1?1~,111O1t'I'
11 i n. 105. (a) The President shall trllnslnit. to Coiigress
12 \\i1hIh Sitit-y dllys lifter t.lle 1)egilnu11g of each reg11lar session
] (eo11nunenein ; with the year 1107,3) a. report, o11 the i11tei.-
14 natioua1 ecollon'lic 'position of the IT11ited States (hcrcin-
15 aft(lr'ealle(1 the. 1I1(('11111tional 'I+lcononlic Report) which s11:111
16 incilllde:
1.7 (1) illI(-rn1`ill't?illll lllld statlstl('s d('ti('l'ihnig chai'il('ter-
(sties of lllte1'lllltl(-11111 ('cO11(-Illiv Ilet-lvit,V 1111(1 I(Iclit.ik iIIg
11) sigiii1ic'illlt (',111'1'( It, 1111(1 fOres('eal),le [l-ends 1i11(1 d(V('l(-I-..
2Q . 1ncalts ;
21 (2) a 1'eview, of the lilterlultio1111l evollollllc I)I'oo-i-mil
22. of 't,ile 1+'cder111 (. ov'erl-Inelll awl a review of doinesl ie
23 an(1 foreign economic, condition", 1111(1 other signitiellnt.
24 1n:,tie1's affecting; the balance of i11ternlllioi111 1I '11-e111s
Approved For Release 2005/11/23: CIA-RDP80B01495R000200060009-8
25 of the 1T1sited States and of their ('Meet on the illt-,r-
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1 ru11-ional trade, investment; financial, and monetary posi-
2 Lion of the, United Sfafes; and
(3) a pro;rain for carryill out the policy declared
in section ..101,, together with such recommendations for
5 - legislalion as he may (1coin necessary or desirable.
G (I)) The Pre+sidoul, niii,y' tiaiis lit from flute lo time to
7 the ('ow Tess reporla s11ppleluel-Iali'y to t;lle Iutorrlatioual
8 l1'cotioliiie Report,, cash of which lnily' illclu-1o Such sul-ple-
Li I11enta-'y or.re' sed 1'CCOn711ielldatlolls j1.s lie way deem
neces- sary of ilosiral-le to ac'lliove l.ho Purposes and 'policy objcc-
tip acs sot forl,l1 ill section 101.
12 ExEXIPI'IVE I-(1'E("I'oli. AND STAPI!' 0I' 'I'II17 ('OUN('IL
,,
4l (i. 'I 0(S. (a.) The, staff of 1.11c, (?!oullcil shall he bokie([
7.4 by an Executive ])irector who shall he appointed by the
15 President. It shall he 1,110 duty of the Executive Director to-
1(- ( I ) direct l'hc llctivities of the Collllcll staff,
l (2) develop the a~r;~ nda rind supporting nlii-terials
IS for Clouiicil lucctiiigs and review all matters before the
'19 ('loinlci 1,
90
)
l
1
u
c-~ a - Is
?
l a work pl'ogr,Ill, ulcludlll? tol-ic5 Ylucl
Ilie sclociloll of individuals to carry oui; parti(ailln'
71ssiglII-ielils.
2'. 1 (I-) (1) Will t.hc "Ipprov,l,l of the Council, the Exeeii-
2'I. live 1)ireolor IIm y appoint and fix the Col-?IpensaLioil of such
25 Apprfve,1 lFo ~?1Re'ease ~2,005~ 2 : rCIA-R ~P80B01495 }00 }10060 y9-8
1 10
 Approved For Release 2005/11/23 : CIA-RDP80BO1495R000022.00060009-8
7 (2) The staff of i.lie Coin)-1il sh--ll be -al-l-oiuted subject
8 to the provisions of tii.lc 5, 1T11ited Stales' (lode, ;over--ing;
9
appoint.roeuls in the ccottlpatit.ive service, and sluff be paid
10 in aceordat..nce with, the provisions of chnl-ter 51 and sub-
k the cotnpcr-sal i(;Ii, of two oflie rs at, rates of l-nsic Coll pensa-
8
1 fix the competisation of one officer at a rate of basic compen-
2 sation not to exceed the rate now or hereafter provided for
3. level IV of the Federal Executive Salary Schedule; and fix
5 tion not to exceed the. rate 'tow or hereafler provided for
level V of 11-e I+'~~d'cr-tl h;xi~c-ttiae Saliiry Si iedii lo;
11 cltttpler III of chapter 53 of si chi title relnting to classilica-
12 Lion and General Schedule pay ml es.
13 (c) Willi the approval of the (1ut-cil, the Execul ive
14
17
lent of the rate nOy c'-r hereafter provided for OS-18.
l 1.
of auy I+'edcrnl al;e--cy is nuthorized to dlel:ail, on a, reiu--
18 (l IT ?, I f 41 .1iI I)' I
o
~
h
20 .
l,iu?s"a.ble ba,uis, any of its perso-iuel to I,1-e (council to ns'sist
i1. iii carryint; out, its (fill ies n--ilor t'l-is I isle.
22
A.UT1IORIZA' ION FOR APPROPRIATr[ON5
23
SEc. 107. There is authorized . to be appropriated each
Director may l.-rc-citrc icn-l-oraa'y and iUieriuitlcul; services
to the same extent as is authorized by seci,iou 31(19 of iit le 5)
United Stales (.;ode,' 'at mites not to exceed the tinily ecluiva-
) p
,i ]c.(lnc;S, o - ic, JAUUiil.-Ve necao-, l ie
MM
24
fiscal year such sv-Its its ?ray 1-e necessary to carry out, tho
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. purposes of this title. i