H.R. 6053 · 110th Congress
Price Stability Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RyanSponsor5 cosponsors · 5 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · May 14, 2008
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Price Stability Act of 2008
Latest action (May 14, 2008): Referred to the Committee on Financial Services, and in addition to the Committees on Education and Labor, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Economics and Public Finance · Origin: House · Introduced: May 14, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.