
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 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.
