Defense Economic Adjustment Act

[AI summary unavailable — showing source text] Defense Economic Adjustment Act - Title I: Defense Economic Adjustment Council - Establishes in the Executive Office of the President the Defense Economic Adjustment Council to be cochaired by the Secretaries of Commerce and Labor. Establishes in the Executive Office an Office of Economic Adjustment, headed by a Director, to provide staff support to the Council. Directs the Council to disseminate information from the Secretary of Defense to Federal, State, and local agencies concerning proposed or pending changes in defense spending which would affect employment in the defense industry. Requires the Council to perform other duties, including: (1) encouraging the preparation of plans for non-defense-related public projects; (2) coordinating and developing information on priority, federally funded projects and programs pertaining to defense economic adjustment; (3) monitoring job services information banks; and (4) determining criteria for eligibility for assistance under this Act. Directs the Secretary of Defense to provide the pertinent information to the Council a year in advance of any change and to furnish the Council with projected future defense spending levels. Directs the Co…