[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 2815 Introduced in Senate (IS)]
109th CONGRESS
2d Session
S. 2815
To establish the Commission on Economic Indicators to conduct a study
and submit a report containing recommendations concerning the
appropriateness and accuracy of the methodology, calculations, and
reporting used by the Government relating to certain economic
indicators.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 16, 2006
Mr. Dodd introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To establish the Commission on Economic Indicators to conduct a study
and submit a report containing recommendations concerning the
appropriateness and accuracy of the methodology, calculations, and
reporting used by the Government relating to certain economic
indicators.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Commission on Economic Indicators
Act of 2006''.
SEC. 2. FINDINGS.
Congress finds that--
(1) the Federal and State governments and private sector
entities depend on the economic statistics published by the
Federal Government;
(2) questions have been raised about the accuracy of
various measures including productivity, poverty, inflation,
employment and unemployment, and wages and income; and
(3) it is essential that these indicators accurately
reflect underlying economic activity and conditions.
SEC. 3. ESTABLISHMENT OF COMMISSION.
(a) Establishment.--There is established the Commission on Economic
Indicators (in this Act referred to as the ``Commission'').
(b) Membership.--
(1) Composition.--The Commission shall be composed of 8
members of whom--
(A) 2 shall be appointed by the Majority Leader of
the Senate, in consultation with the Chairmen and
Ranking Members of the Committee on Banking, Housing,
and Urban Affairs of the Senate, the Committee on
Finance of the Senate, and the Joint Economic
Committee;
(B) 2 shall be appointed by the Minority Leader of
the Senate, in consultation with the Chairmen and
Ranking Members of the Committee on Banking, Housing,
and Urban Affairs of the Senate, the Committee on
Finance of the Senate, and the Joint Economic
Committee;
(C) 2 shall be appointed by the Speaker of the
House of Representatives, in consultation with the
Chairmen and Ranking Members of the Committee on
Financial Services of the House of Representatives, the
Committee on Ways and Means of the House of
Representatives, and the Joint Economic Committee; and
(D) 2 shall be appointed by the Minority Leader of
the House of Representatives, in consultation with the
Chairmen and Ranking Members of the Committee on
Financial Services of the House of Representatives, the
Committee on Ways and Means of the House of
Representatives, and the Joint Economic Committee.
(2) Qualifications.--Members of the Commission shall be--
(A) appointed on a nonpartisan basis; and
(B) experts in the fields of economics, statistics,
or other related professions.
(3) Date.--The appointments of the members of the
Commission shall be made not later than 60 days after the date
of enactment of this Act.
(c) Period of Appointment; Vacancies.--Members shall be appointed
for the life of the Commission. Any vacancy in the Commission shall not
affect its powers, but shall be filled in the same manner as the
original appointment.
(d) Initial Meeting.--Not later than 30 days after the date on
which all members of the Commission have been appointed, the Commission
shall hold its first meeting.
(e) Meetings.--The Commission shall meet at the call of the
Chairman.
(f) Quorum.--A majority of the members of the Commission shall
constitute a quorum, but a lesser number of members may hold hearings.
(g) Chairman and Vice Chairman.--The Commission shall select a
Chairman and Vice Chairman from among its members.
SEC. 4. DUTIES OF THE COMMISSION.
(a) Study.--The Commission shall conduct a study of--
(1) economic statistics collected and reported by United
States Government agencies, including national income,
employment and unemployment, wages, personal income, wealth,
savings, debt, productivity, inflation, and international trade
and capital flows; and
(2) ways to improve the related statistical measurements so
that such measurements provide a more accurate and complete
depiction of economic conditions.
(b) Consultation.--In conducting the study under this section, the
Commission shall consult with--
(1) the Chairman of the Federal Reserve Board of Governors;
(2) the Secretary of Commerce;
(3) the Secretary of Labor;
(4) the Secretary of the Treasury;
(5) the Chairman of the Council of Economic Advisers; and
(6) the Comptroller General of the United States.
(c) Report.--Not later than 1 year after the date of the first
meeting of the Commission, the Commission shall submit a report to
Congress which shall contain a detailed statement of the findings and
conclusions of the Commission, together with recommendations for such
legislation and administrative actions as the Commission considers
appropriate, including a recommendation of the appropriateness of
establishing a similar commission after the termination of the
Commission.
SEC. 5. POWERS OF THE COMMISSION.
(a) Hearings.--The Commission may hold such hearings, sit and act
at such times and places, take such testimony, and receive such
evidence as the Commission considers advisable to carry out this Act.
(b) Information From Federal Agencies.--The Commission may secure
directly from any Federal department or agency such information as the
Commission considers necessary to carry out this Act. Upon request of
the Chairman of the Commission, the head of such department or agency
shall furnish such information to the Commission. The Commission shall
maintain the same level of confidentiality for such information made
available under this subsection as is required of the head of the
department or agency from which the information was obtained.
(c) Postal Services.--The Commission may use the United States
mails in the same manner and under the same conditions as other
departments and agencies of the Federal Government.
SEC. 6. COMMISSION PERSONNEL MATTERS.
(a) Compensation of Members.--Each member of the Commission who is
not an officer or employee of the Federal Government shall be
compensated at a rate equal to the daily equivalent of the annual rate
of basic pay prescribed for level IV of the Executive Schedule under
section 5315 of title 5, United States Code, for each day (including
travel time) during which such member is engaged in the performance of
the duties of the Commission. All members of the Commission who are
officers or employees of the United States shall serve without
compensation in addition to that received for their services as
officers or employees of the United States.
(b) Travel Expenses.--The members of the Commission shall be
allowed travel expenses, including per diem in lieu of subsistence, at
rates authorized for employees of agencies under subchapter I of
chapter 57 of title 5, United States Code, while away from their homes
or regular places of business in the performance of services for the
Commission.
(c) Staff.--
(1) In general.--The Chairman of the Commission may,
without regard to the civil service laws and regulations,
appoint and terminate an executive director and such other
additional personnel as may be necessary to enable the
Commission to perform its duties. The employment of an
executive director shall be subject to confirmation by the
Commission.
(2) Compensation.--The Chairman of the Commission may fix
the compensation of the executive director and other personnel
without regard to chapter 51 and subchapter III of chapter 53
of title 5, United States Code, relating to classification of
positions and General Schedule pay rates, except that the rate
of pay for the executive director and other personnel may not
exceed the rate payable for level V of the Executive Schedule
under section 5316 of such title.
(3) Personnel as federal employees.--
(A) In general.--The executive director and any
personnel of the Commission who are employees shall be
employees under section 2105 of title 5, United States
Code, for purposes of chapters 63, 81, 83, 84, 85, 87,
89, 89A, 89B, and 90 of that title.
(B) Members of board.--Subparagraph (A) shall not
be construed to apply to members of the Commission.
(d) Detail of Government Employees.--Any Federal Government
employee may be detailed to the Commission without reimbursement, and
such detail shall be without interruption or loss of civil service
status or privilege.
(e) Procurement of Temporary and Intermittent Services.--The
Chairman of the Commission may procure temporary and intermittent
services under section 3109(b) of title 5, United States Code, at rates
for individuals which do not exceed the daily equivalent of the annual
rate of basic pay prescribed for level V of the Executive Schedule
under section 5316 of such title.
SEC. 7. TERMINATION OF THE COMMISSION.
The Commission shall terminate 90 days after the date on which the
Commission submits its report under section 4.
SEC. 8. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated such sums as necessary to
carry out this Act.
<all>