§ 1022a. — Mediumterm economic goals and policies respecting full employment and balanced growth.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1022a]
TITLE 15--COMMERCE AND TRADE
CHAPTER 21--NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY
Sec. 1022a. Medium-term economic goals and policies respecting
full employment and balanced growth
(a) Incorporation of necessary programs and policies
In each Economic Report after October 27, 1978, the President shall
incorporate (as part of the five-year numerical goals in each Economic
Report) medium-term annual numerical goals specified in section
1022(a)(2)(B) of this title, and in each President's Budget submitted
immediately prior thereto, the President shall incorporate the programs
and policies the President deems necessary to achieve such medium-term
goals and a balanced Federal budget and to achieve reasonable price
stability as rapidly as feasible as provided for in section 1022b(b) of
this title.
(b) Interim numerical goals for initial Economic Reports
The medium-term goals in the first three Economic Reports and,
subject to the provisions of subsection (d) of this section, in each
Economic Report thereafter shall include (as part of the five-year goals
in each Economic Report) interim numerical goals for--
(1) reducing the rate of unemployment, as set forth pursuant to
section 1022(d) of this title, to not more than 3 per centum among
individuals aged twenty and over and 4 per centum among individuals
aged sixteen and over within a period not extending beyond the fifth
calendar year after the first such Economic Report;
(2) reducing the rate of inflation, as set forth pursuant to
section 1022(e) of this title, to not more than 3 per centum within
a period not extending beyond the fifth calendar year after the
first such Economic Report: Provided, That policies and programs for
reducing the rate of inflation shall be designed so as not to impede
achievement of the goals and timetables specified in clause (1) of
this subsection for the reduction of unemployment; and
(3) reducing the share of the Nation's gross national product
accounted for by Federal outlays to 21 per centum or less by 1981,
and to 20 per centum or less by 1983 and thereafter, or the lowest
level consistent with national needs and priorities: Provided, That
policies and programs for achieving the goal specified in this
clause shall be designed so as not to impede achievement of the
goals and timetables specified in clause (1) of this subsection for
the reduction of unemployment.
For purposes of this subsection, the first Economic Report shall be the
Report issued in the first calendar year after October 27, 1978.
(c) Achievement of full employment, balanced budget, zero inflation
rate, and 20 per centum level of Federal outlays as a proportion
of gross national product for succeeding Economic Reports
(1) Upon achievement of the 3 and 4 per centum goals specified in
subsection (b)(1) of this section, each succeeding Economic Report shall
have the goal of achieving as soon as practicable and maintaining
thereafter full employment and a balanced budget.
(2) Upon achievement of the 3 per centum goal specified in
subsection (b)(2) of this section, each succeeding Economic Report shall
have the goal of achieving by 1988 a rate of inflation of zero per
centum: Provided, That policies and programs for reducing the rate of
inflation shall be designed so as not to impede achievement of the goals
and timetables specified in clause (1) of this subsection for the
reduction of unemployment.
(3) Upon achievement of the 20 per centum goal specified in
subsection (b)(3) of this section, each succeeding Economic Report shall
have the goal of establishing the share of an expanding gross national
product accounted for by Federal outlays at a level of 20 per centum or
less, or the lowest level consistent with national needs and priorities:
Provided, That policies and programs for achieving the goal specified in
this clause shall be designed so as not to impede achievement of the
goals and timetables specified in subsection (b)(1) of this section for
the reduction of unemployment.
(d) Review by President; report to Congress; modification of timetables
In the second Economic Report after October 27, 1978, the President
shall review the numerical goals and timetables for the reduction of
unemployment, inflation, and Federal outlays as a proportion of gross
national product, and the goal of balancing the Federal budget; report
to the Congress on the degree of progress being made, the programs and
policies being used, and any obstacles to achieving such goals and
timetables; and, if necessary, propose corrective economic measures
toward achievement of such goals and timetables: Provided, That
beginning with the second Report and in any subsequent Reports, if the
President finds it necessary, the President may recommend modification
of the timetable or timetables for the achievement of the goals provided
for in subsection (b) of this section and the annual numerical goals to
make them consistent with the modified timetable or timetables, and the
Congress may take such action as it deems appropriate consistent with
title III of the Full Employment and Balanced Growth Act of 1978 [15
U.S.C. 3131 et seq.].
(e) Interim numerical goals for succeeding Economic Reports
If, after achievement of the 3 and 4 per centum goals specified in
subsection (b) of this section, the unemployment rate for a year as set
forth pursuant to section 1022(d) of this title is more than 3 per
centum among individuals aged twenty and over or more than 4 per centum
among individuals aged sixteen and over, the next Economic Report after
such rate is set forth and each succeeding Economic Report shall include
(as part of the five-year goals in each Economic Report) the interim
numerical goal of reducing unemployment to not more than the levels
specified in subsection (b)(1) of this section as soon as practicable
but not later than the fifth calendar year after the first such Economic
Report, counting as the first calendar year the year in which such
Economic Report is issued: Provided, That, if the President finds it
necessary, the President may, under the authority provided in subsection
(d) of this section, recommend modification of the timetable provided
for in this subsection for the reduction of unemployment, and for the
purposes of section 304 of the Full Employment and Balanced Growth Act
of 1978, such recommendation by the President shall be treated as a
recommendation made under subsection (d) of this section.
(f) Action taken to reduce unemployment
(1) In taking action to reduce unemployment in accord with the
numerical goals and timetable established under subsection (b) of this
section, every effort shall be made to reduce those differences between
the rates of unemployment among youth, women \1\ minorities, handicapped
persons, veterans, middle-aged and older persons and other labor force
groups and the overall rate of unemployment which are caused by any
improper factors with the ultimate objective of removing such
differentials to the extent possible.
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\1\ So in original. Probably should be followed by a comma.
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(2) Insofar as the differences specified in the preceding paragraph
are due to lack of training and skills, occupational practices, and
other relevant factors, the Secretary of Labor shall--
(A) take such action as practicable to achieve the objectives of
this subsection;
(B) make studies, develop information, and make recommendations
toward remedying these differences in rates of unemployment, and
prepare and submit to the President an annual report containing the
recommendations; and
(C) make recommendations, as deemed necessary, to the Congress
related to the objectives of this paragraph.
(g) Definitions
(1) The term ``middle-aged and older persons'' as used in this
section includes any individual forty-five years of age or older.
(2) For purposes of this section, the term ``veteran'' shall mean
the same as defined in section 4211(1) or (2) of title 38.
(Feb. 20, 1946, ch. 33, Sec. 4, as added Pub. L. 95-523, title I,
Sec. 104, Oct. 27, 1978, 92 Stat. 1893; amended Pub. L. 96-10,
Sec. 6(a)-(c), May 10, 1979, 93 Stat. 23, 24; Pub. L. 103-446, title
XII, Sec. 1203(c)(4), Nov. 2, 1994, 108 Stat. 4690; Pub. L. 105-277,
div. A, Sec. 101(f) [title VIII, Sec. 405(d)(11)], Oct. 21, 1998, 112
Stat. 2681-337, 2681-420.)
References in Text
The Full Employment and Balanced Growth Act of 1978, referred to in
subsec. (d), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat. 1887, as
amended. Title III of the Full Employment and Balanced Growth Act of
1978 is classified principally to subchapter II (Sec. 3131 et seq.) of
chapter 58 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.
Section 304 of the Full Employment and Balanced Growth Act of 1978,
referred to in subsec. (e), is Pub. L. 95-523, Sec. 304, Oct. 27, 1978,
92 Stat. 1906, which amended section 632 of Title 2, The Congress.
Prior Provisions
A prior section 4 of act Feb. 20, 1946, was renumbered section 10
and is classified to section 1023 of this title.
Amendments
1998--Subsec. (f)(2)(B). Pub. L. 105-277 substituted ``and prepare
and submit to the President an annual report containing the
recommendations'' for ``and include these in the annual Employment and
Training Report of the President required under section 705(a) of the
Comprehensive Employment and Training Act of 1973 (hereinafter in this
chapter referred to as `CETA')''.
1994--Subsec. (g)(2). Pub. L. 103-446 substituted ``this section''
for ``this subsection'' and ``section 4211(1) or (2) of title 38'' for
``section 2011(1) or (2)(A) of title 38''.
1979--Subsec. (b)(3). Pub. L. 96-10, Sec. 6(a), added par. (3).
Subsec. (c)(3). Pub. L. 96-10, Sec. 6(b), added par. (3).
Subsec. (d). Pub. L. 96-10, Sec. 6(c), inserted reference to Federal
outlays as a proportion of gross national product.
Section Referred to in Other Sections
This section is referred to in sections 1021, 1022d, 1022e, 3116,
3132, 3151 of this title; title 2 sections 632, 636.
