A bill to amend and extend the Economic Stabilization Act of 1970.

[AI summary unavailable — showing source text] Provides that notwithstanding any other provision of the Economic Stabilization Act, all prices and interest rates are hereby frozen at levels no higher than those prevailing on March 16, 1973. Provides that the President may, by written order stating in full the considerations for his action, make adjustments with respect to prices and interest rates in order to correct gross inequities. Provides that immediately, but not later than sixty days after the date of enactment of this section, the President shall, by written order stating in full the considerations for his action, roll back prices and interest rates to levels lower than those prevailing on March 16, 1973, in order to reduce inflation and otherwise carry out the purposes of this Act. Provides that whenever the consumer price index as compiled by the Bureau of Labor Statistics, United States Department of Labor, for a calendar month exceeds an annual rate of 3 percent for any three consecutive months or an annual rate of 2.5 percent for any twelve consecutive months then within thirty calendar days the President is authorized and directed to issue orders and regulations to establish a mandatory program to: (1) freeze pric…