The views expressed herein are those of the individual authors and do not neces- For sale by the Superintendent of Documents, U.S. Government Printing Office Stock Number 4800-00262 CHRONOLOGY August 15 -Economic Stabilization Act of 1970 passed. March 29 -Executive Order 11588 issued establishing the Construction Industry Stabilization Committee. Lugust 15 -Freeze I regulations announced and effective; Cost of Living Council established. October 7 -Phase II announced; Cost of Living Council continued, Price November 13-Phase II regulations effective. December 22-Economic Stabilization Act Amendments of 1971 passed with more detailed standards and an extension of the expiration date to April 30, 1973. March 23 -Pay Board reconstituted after walk-off of the labor members. -Small business exemption. Firms with 60 or fewer employees and less than $50 million in sales or revenues exempt from controls, except those in construction and health care industry. January 11 -Phase III announced and regulations effective; Cost of Living Council, Price Commission and Pay Board merged into new Cost of Living Council. March 6 March 29 April 30 June 13 July 18 July 19 August 12 August 19 -Recontrol of the Petroleum industry. -Ceiling imposed on prices for red meat. -Extension of Economic Stabilization Act to April 30, 1974. -Reinstitution of prenotification requirements for firms with $250 million in sales. -Freeze II regulations announced and effective. -Stage A of the food regulations effective-raw agricultural cost pass-through implemented. -Phase IV regulations issued for public comment. -Phase IV regulations effective except for petroleum and food. September 7-Retail portion of petroleum regulations effective. September 10-Stage B of the food regulations effective-termination of ceiling on prices for red meat. October 25 -Sector-by-sector decontrol begins with exemption of fertilizer. December 26-Delegation of price stabilization authority with respect to petroleum products and crude oil to the Administrator, Federal Energy Office. April 30 -Expiration of the Economic Stabilization Act, ending authority for wage and price controls. |