H.R. 6053 (110th): Price Stability Act of 2008

Introduced:
May 14, 2008 (110th Congress, 2007–2009)
Status:
Died (Referred to Committee)
Sponsor
Paul Ryan
Representative for Wisconsin's 1st congressional district
Party
Republican
Text
Read Text »
Last Updated
May 14, 2008
Length
9 pages
Related Bills
H.R. 6042 (Related)
Price Stability and Inflation Targeting Act of 2008

Referred to Committee
Last Action: May 13, 2008

 
Status

This bill was introduced on May 14, 2008, in a previous session of Congress, but was not enacted.

Progress
Introduced May 14, 2008
Referred to Committee May 14, 2008
 
Full Title

To require the Board of Governors of the Federal Reserve System to focus on price stability in establishing monetary policy to ensure the stable, long-term purchasing power of the currency, to repeal the Full Employment and Balanced Growth Act of 1978, and for other purposes.

Summary

No summaries available.

Cosponsors
5 cosponsors (5R) (show)
Committees

House Education and the Workforce

House Financial Services

House Budget

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

Widget

Get a bill status widget for your website »

Citation

Click a format for a citation suggestion:

Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


5/14/2008--Introduced.
Price Stability Act of 2008 - Declares it is US policy that the principal economic responsibilities of the Government are to establish both long-term economic growth and increases in living standards, maintain free markets, low taxes, respect for private property, and the stable, long-term purchasing power of US currency.
Declares that the promotion of price stability should be the primary long-term goal of the Board of Governors of the Federal Reserve System.
Amends the Federal Reserve Act to revise the mandate of the Board and the Federal Open Market Committee to require them to: (1) establish a numerical definition of the term "price stability"; and (2) maintain a monetary policy that promotes long-term price stability.
Requires the Board to consult with, and report to, Congress semi-annually about Board and Committee objectives and plans to achieve and maintain price stability.
Repeals the Full Employment and Balanced Growth Act of 1978.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

Use the comment space below for discussion of the merits of H.R. 6053 (110th) with other GovTrack users.
Your comments are not read by Congressional staff.

comments powered by Disqus