Fiscal Stabilization Act

[AI summary unavailable — showing source text] Fiscal Stabilization Act - Establishes as an independent agency of the Government a Fiscal Stabilization Board: (1) to monitor the fiscal and monetary conditions of the United States and to advise the President with respect thereto, and (2) to recommend to the President action to be taken by him to stabilize the national economy by controlling the aggregate amount of borrowing in any fiscal year for federally sponsored or guaranteed purposes. States that if the Board determines that the aggregate impact on the economy would be adverse, it shall prepare a Federal Financing Plan for that fiscal year. Provides that Congress may disapprove any Federal Financing Plan by action of both Houses of the Congress within sixty days after the Plan is submitted to the Congress by the Fiscal Stabilization Board, whereupon the Board shall make another plan, taking into account the objections of the Congress, and that Plan shall be subject to review also.…