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CHRONOLOGY

HC106 August 15 -Economic Stabilization Act of 1970 passed.

.6

-U61 March 29 -Executive Order 11588 issued establishing the Construction 1974

Industry Stabilization Committee.
August 15 -Freeze I regulations announced and effective; Cost of Living
Council established.

DOCU"ENTS

DEPT. October 7 -Phase II announced; Cost of Living Council continued, Price

Commission and Pay Board established.
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.

V.2

March 23

May 1

-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 -Recontrol of the Petroleum industry.
March 29 -Ceiling imposed on prices for red meat.
April 30 -Extension of Economic Stabilization Act to April 30, 1974.
May 2 -Reinstitution of prenotification requirements for firms with

$250 million in sales.
June 13 -Freeze II regulations announced and effective.
July 18 -Stage A of the food regulations effective-raw agricultural

cost pass-through implemented.
July 19 -Phase IV regulations issued for public comment.
August 12 -Phase IV regulations effective except for petroleum and food.
August 19 - Petroleum regulations effective except for retailer.
September 7 –Retail portion of petroleum regulations effective.
September 10-Stage B of the food regulations effective—termination of ceil-

ing 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, Fed-
eral Energy Office.

April 30

-Expiration of the Economic Stabilization Act, ending author

ity for wage and price controls.

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