§ 1023. — Council of Economic Advisers.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1023]
TITLE 15--COMMERCE AND TRADE
CHAPTER 21--NATIONAL POLICY ON EMPLOYMENT AND PRODUCTIVITY
Sec. 1023. Council of Economic Advisers
(a) Creation; composition; qualifications; selection of chairman and
vice chairman
There is created in the Executive Office of the President a Council
of Economic Advisers (hereinafter called the ``Council''). The Council
shall be composed of three members who shall be appointed by the
President by and with the advice and consent of the Senate, and each of
whom shall be a person who, as a result of his training, experience, and
attainments, is exceptionally qualified to analyze and interpret
economic developments, to appraise programs and activities of the
Government in the light of the policy declared in section 1021 of this
title, and to formulate and recommend national economic policy to
promote full employment, production, and purchasing power under free
competitive enterprise. The President shall designate one of the members
of the Council as chairman and one as vice chairman, who shall act as
chairman in the absence of the chairman.
(b) Employment of specialists, experts, and other personnel
The Council is authorized to employ, and fix the compensation of,
such specialists and other experts as may be necessary for the carrying
out of its functions under this chapter, without regard to the civil-
service laws, and is authorized, subject to the civil-service laws, to
employ such other officers and employees as may be necessary for
carrying out its functions under this chapter, and fix their
compensation in accordance with chapter 51 and subchapter III of chapter
53 of title 5.
(c) Duties
It shall be the duty and function of the Council--
(1) to assist and advise the President in the preparation of the
Economic Report;
(2) to gather timely and authoritative information concerning
economic developments and economic trends, both current and
prospective, to analyze and interpret such information in the light
of the policy declared in section 1021 of this title for the purpose
of determining whether such developments and trends are interfering,
or are likely to interfere, with the achievement of such policy, and
to compile and submit to the President studies relating to such
developments and trends;
(3) to appraise the various programs and activities of the
Federal Government in the light of the policy declared in section
1021 of this title for the purpose of determining the extent to
which such programs and activities are contributing, and the extent
to which they are not contributing, to the achievement of such
policy, and to make recommendations to the President with respect
thereto;
(4) to develop and recommend to the President national economic
policies to foster and promote free competitive enterprise including
small and larger business, to avoid economic fluctuations or to
diminish the effects thereof, and to maintain full employment,
production, and purchasing power;
(5) to make and furnish such studies, reports thereon, and
recommendations with respect to matters of Federal economic policy
and legislation as the President may request.
(d) Annual report
The Council shall make an annual report to the President in December
of each year.
(e) Consultation with other groups and agencies; utilization of
Government services and private research agencies
In exercising its powers, functions and duties under this chapter--
(1) the Council may constitute such advisory committees and may
consult with such representatives of industry, agriculture, labor,
consumers, State and local governments, and other groups, as it
deems advisable, and shall consult with the board or boards
established under section 1022f of this title;
(2) the Council shall, to the fullest extent possible, utilize
the services, facilities, and information (including statistical
information) of other Government agencies as well as of private
research agencies, in order that duplication of effort and expense
may be avoided.
In its work under this chapter and the Full Employment and Balanced
Growth Act of 1978 [15 U.S.C. 3101 et seq.], the Council is authorized
and directed to seek and obtain the cooperation of the various executive
and independent agencies in the development of specialized studies
essential to its responsibilities.
(f) Appropriations
To enable the Council to exercise its powers, functions, and duties
under this chapter, there are authorized to be appropriated such sums as
may be necessary.
(Feb. 20, 1946, ch. 33, Sec. 10, formerly Sec. 4, 60 Stat. 24; Oct. 28,
1949, ch. 782, title XI, Sec. 1106(a), 63 Stat. 972; Pub. L. 87-49, June
16, 1961, 75 Stat. 93; renumbered Sec. 10 and amended Pub. L. 95-523,
title I, Secs. 104, 110, Oct. 27, 1978, 92 Stat. 1893, 1899.)
References in Text
The civil service laws, referred to in subsec. (b), are set forth in
Title 5, Government Organization and Employees. See, particularly,
section 3301 et seq. of Title 5.
The Full Employment and Balanced Growth Act of 1978, referred to in
subsec. (e), is Pub. L. 95-523, Oct. 27, 1978, 92 Stat. 1887, as
amended, which is classified principally to chapter 58 (Sec. 3101 et
seq.) 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.
Codification
In subsec. (a), provisions that fixed the compensation of members of
the Council have been omitted as obsolete. The positions of chairman and
members of the Council are under the Executive Schedule, see sections
5313 and 5315 of Title 5, Government Organization and Employees.
In subsec. (b), provisions that authorized the Council to fix the
compensation of such specialists and other experts as may be necessary
for the carrying out of its functions under this chapter, without regard
to ``the Classification Act of 1923, as amended'', were omitted as
obsolete. Sections 1202 and 1204 of the Classification Act of 1949, 63
Stat. 972, 973, repealed the 1923 Act and all laws or parts of laws
inconsistent with the 1949 Act. While section 1106(a) of the 1949 Act
provided that references in other laws to the 1923 Act should be held
and considered to mean the 1949 Act, it did not have the effect of
continuing the exceptions contained in this subsection because of
section 1106(b) which provided that the application of the 1949 Act to
any position, officer, or employee shall not be affected by section
1106(a). The Classification Act of 1949 was repealed by Pub. L. 89-554,
Sept. 6, 1966, Sec. 8(a), 80 Stat. 632 (of which section 1 revised and
enacted Title 5, Government Organization and Employees, into law).
Section 5102 of Title 5 contains the applicability provisions of the
1949 Act, and section 5103 of Title 5 authorizes the Office of Personnel
Management to determine the applicability to specific positions and
employees.
``Chapter 51 and subchapter III of chapter 53 of title 5''
substituted in subsec. (b) for ``the Classification Act of 1949'' on
authority of Pub. L. 89-554, Sec. 7(b), Sept. 6, 1966, 80 Stat. 631, the
first section of which enacted Title 5.
Amendments
1978--Subsec. (a). Pub. L. 95-523, Sec. 110(a)(1), inserted ``full''
after ``policy to promote''.
Subsec. (c)(4). Pub. L. 95-523, Sec. 110(a)(2), inserted ``including
small and larger business'' after ``free competitive enterprise'' and
inserted ``full'' after ``and to maintain''.
Subsec. (e). Pub. L. 95-523, Sec. 110(a)(3), (4), inserted in par.
(1) ``, and shall consult with the board or boards established under
section 1022f of this title'' after ``as it deems advisable'' and after
par. (2) inserted provisions authorizing and directing the Council to
seek and obtain the cooperation of executive and independent agencies in
the development of specialized studies essential to its
responsibilities.
1961--Subsec. (f). Pub. L. 87-49 struck out provisions which limited
the appropriations for salaries of the members and officers and
employees of the Council to not more than $345,000 for each fiscal year.
1949--Subsec. (b). Act Oct. 28, 1949, substituted ``Classification
Act of 1949'' for ``Classification Act of 1923''.
Repeals
Act Oct. 28, 1949, ch. 782, cited as a credit to this section, was
repealed (subject to a savings clause) by Pub. L. 89-554, Sept. 6, 1966,
Sec. 8, 80 Stat. 632, 655.
Transfer of Functions
Certain functions of Council of Economic Advisers transferred to
Chairman, see 1953 Reorg. Plan No. 9, eff. Aug. 1, 1953, 18 F.R. 4542,
set out below. 1953 Reorg. Plan No. 9 also abolished office of Vice
Chairman.
Termination of Advisory Committees
Advisory committees in existence on Jan. 5, 1973, to terminate not
later than the expiration of the 2-year period following Jan. 5, 1973,
unless, in the case of a committee established by the President or an
officer of the Federal Government, such committee is renewed by
appropriate action prior to the expiration of such 2-year period, or in
the case of a committee established by the Congress, its duration is
otherwise provided by law. See section 14 of Pub. L. 92-463, Oct. 6,
1972, 86 Stat. 776, set out in the Appendix to Title 5, Government
Organization and Employees.
REORGANIZATION PLAN NO. 9 OF 1953
Eff. Aug. 1, 1953, 18 F.R. 4543, 67 Stat. 644
Prepared by the President and transmitted to the Senate and the House of
Representatives in Congress assembled, June 1, 1953, pursuant to the
provisions of the Reorganization Act of 1949, approved June 20,
1949, as amended [see 5 U.S.C. 901 et seq.].
COUNCIL OF ECONOMIC ADVISERS
The functions vested in the Council of Economic Advisers by section
4(b) of the Employment Act of 1946 (60 Stat. 24) [subsec. (b) of this
section], and so much of the functions vested in the Council by section
4(c) of that Act [subsec. (c) of this section] as consists of reporting
to the President with respect to any function of the Council under the
said section 4(c) [subsec. (c) of this section], are hereby transferred
to the Chairman of the Council of Economic Advisers. The position of
Vice Chairman of the Council of Economic Advisers, provided for in the
last sentence of section 4(a) of the said Act [subsec. (a) of this
section] is hereby abolished.
Executive Order No. 10802
Ex. Ord. No. 10802, Jan. 23, 1959, 24 F.R. 557, which established
the Committee on Government Activities Affecting Prices and Costs, was
revoked by Ex. Ord. No. 10928, Mar. 23, 1961, 26 F.R. 2547.
Executive Order No. 11453
Ex. Ord. No. 11453, Jan. 24, 1969, 34 F.R. 1301, which established
the Cabinet Committee on Economic Policy, was revoked by Ex. Ord. No.
11702, Jan. 25, 1973, 38 F.R. 2957, set out as a note under section 887d
of Title 20, Education.
Executive Order No. 12296
Ex. Ord. No. 12296, Mar. 2, 1981, 46 F.R. 15129, as amended by Ex.
Ord. No. 12309, June 9, 1981, 46 F.R. 30997, which related to the
establishment, functions, administration, and termination of the
President's Economic Policy Advisory Board, was revoked by Ex. Ord. No.
12692, Sept. 29, 1989, 54 F.R. 40627, formerly set out as a note under
section 14 of the Federal Advisory Committee Act in the Appendix to
Title 5, Government Organization and Employees.
Term of the President's Economic Policy Advisory Board extended
until Sept. 30, 1984, by Ex. Ord. No. 12399, Dec. 31, 1982, 48 F.R. 379,
formerly set out as a note under section 14 of the Federal Advisory
Committee Act in the Appendix to Title 5.
Term of the President's Economic Policy Advisory Board extended
until Sept. 30, 1985, by Ex. Ord. No. 12489, Sept. 28, 1984, 49 F.R.
38927, formerly set out as a note under section 14 of the Federal
Advisory Committee Act in the Appendix to Title 5.
Term of the President's Economic Policy Advisory Board extended
until Sept. 30, 1987, by Ex. Ord. No. 12534, Sept. 30, 1985, 50 F.R.
40319, formerly set out as a note under section 14 of the Federal
Advisory Committee Act in the Appendix to Title 5.
Term of the President's Economic Policy Advisory Board extended
until Sept. 30, 1989, by Ex. Ord. No. 12610, Sept. 30, 1987, 52 F.R.
36901, formerly set out as a note under section 14 of the Federal
Advisory Committee Act in the Appendix to Title 5.
Ex. Ord. No. 12835. Establishment of National Economic Council
Ex. Ord. No. 12835, Jan. 25, 1993, 58 F.R. 6189, as amended by Ex.
Ord. No. 13286, Sec. 27, Feb. 28, 2003, 68 F.R. 10625, provided:
By the authority vested in me as President of the United States by
the Constitution and the laws of the United States of America, including
sections 105, 107, and 301 of title 3, United States Code, it is hereby
ordered as follows:
Section 1. Establishment. There is established the National Economic
Council (``the Council'').
Sec. 2. Membership. The Council shall comprise the:
(a) President, who shall serve as Chairman of the Council;
(b) Vice President;
(c) Secretary of State;
(d) Secretary of the Treasury;
(e) Secretary of Agriculture;
(f) Secretary of Commerce;
(g) Secretary of Labor;
(h) Secretary of Housing and Urban Development;
(i) Secretary of Transportation;
(j) Secretary of Energy;
(k) Secretary of Homeland Security;
(l) Administrator of the Environmental Protection Agency;
(m) Chair of the Council of Economic Advisers;
(n) Director of the Office of Management and Budget;
(o) United States Trade Representative;
(p) Assistant to the President for Economic Policy;
(q) Assistant to the President for Domestic Policy;
(r) National Security Adviser;
(s) Assistant to the President for Science and Technology
Policy; and
(t) Such other officials of executive departments and agencies
as the President may, from time to time, designate.
Sec. 3. Meetings of the Council. The President, or upon his
direction, the Assistant to the President for Economic Policy (``the
Assistant''), may convene meetings of the Council. The President shall
preside over the meetings of the Council, provided that in his absence
the Vice President, and in his absence the Assistant, will preside.
Sec. 4. Functions. (a) The principal functions of the Council are:
(1) to coordinate the economic policy-making process with respect to
domestic and international economic issues; (2) to coordinate economic
policy advice to the President; (3) to ensure that economic policy
decisions and programs are consistent with the President's stated goals,
and to ensure that those goals are being effectively pursued; and (4) to
monitor implementation of the President's economic policy agenda. The
Assistant may take such actions, including drafting a Charter, as may be
necessary or appropriate to implement such functions.
(b) All executive departments and agencies, whether or not
represented on the Council, shall coordinate economic policy through the
Council.
(c) In performing the foregoing functions, the Assistant will, when
appropriate, work in conjunction with the Assistant to the President for
Domestic Policy and the Assistant to the President for National
Security.
(d) The Secretary of the Treasury will continue to be the senior
economic official in the executive branch and the President's chief
economic spokesperson. The Director of the Office of Management and
Budget, as the President's principal budget spokesperson, will continue
to be the senior budget official in the executive branch. The Council of
Economic Advisers will continue its traditional analytic, forecasting
and advisory functions.
Sec. 5. Administration. (a) The Council may function through
established or ad hoc committees, task forces or interagency groups.
(b) The Council shall have a staff to be headed by the Assistant to
the President for Economic Policy. The Council shall have such staff and
other assistance as may be necessary to carry out the provisions of this
order.
(c) All executive departments and agencies shall cooperate with the
Council and provide such assistance, information, and advice to the
Council as the Council may request, to the extent permitted by law.
Section Referred to in Other Sections
This section is referred to in section 1022 of this title.
