[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2747 Introduced in Senate (IS)]







108th CONGRESS
  2d Session
                                S. 2747

To establish a Commission on the Future of the United States Economy to 
  make recommendations on public policy and the reorganization of the 
Federal Government to promote efficiency and economy of operation, and 
                          for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 22, 2004

 Mr. Lieberman introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To establish a Commission on the Future of the United States Economy to 
  make recommendations on public policy and the reorganization of the 
Federal Government to promote efficiency and economy of operation, and 
                          for other purposes.

    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 the Future of the 
United States Economy Act of 2004''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) The United States economy has entered an information 
        age in which innovation and knowledge, including worker skills 
        and creativity, are the keys to competitive advantage.
            (2) The need for bold innovation and ever-increasing 
        knowledge imposes increasingly demanding competitive challenges 
        for United States workers and companies.
            (3) In 1984, in response to concerns over the condition of 
        the manufacturing sector in the United States, President Ronald 
        Reagan appointed the bipartisan President's Commission on 
        Industrial Competitiveness (hereafter in this Act referred to 
        as the ``Young Commission'') that addressed the issue of United 
        States competitiveness in a new way and developed a framework 
        that has guided policymaking for the past 2 decades.
            (4) The Young Commission proposed a reorganization of the 
        performance of the economic and trade functions of the Federal 
        Government, which was never implemented.
            (5) The striking changes in world economic circumstances 
        over the 20 years since reorganization was proposed by the 
        Young Commission necessitate reevaluation of the proposal in 
        light of those changes.
            (6) Because the challenges facing the United States economy 
        are different in many ways from those of 20 years ago, there is 
        a need to renew the Young Commission's mandate to reexamine 
        America's competitiveness.
            (7) Many studies and reports by governmental and 
        nongovernmental organizations, such as the National Innovation 
        Initiative of the Council on Competitiveness, have laid the 
        groundwork for this reexamination.
            (8) The changed competitive challenges facing the United 
        States today--
                    (A) extend beyond a concern over global competition 
                in goods and the loss of domestic manufacturing to the 
                challenges presented by the fusion of manufacturing and 
                services into complex networks and the opening of more 
                service sectors earlier to international competition;
                    (B) extend beyond concerns over productivity and 
                quality to the challenges presented by the need for 
                increased customization, speed, and responsiveness to 
                customer needs;
                    (C) extend beyond issues of competitiveness of 
                individual manufacturing firms and industries and to 
                the challenges of ensuring robustness in the networks 
                of manufacturing and service firms and development of 
                new forms of business models;
                    (D) extend beyond a concern over high-technology 
                research and development and to the challenges of 
                nurturing the entire innovation system, including basic 
                research, technological development, venture capital, 
                new product development, design and aesthetics, new 
                business models, and the development of new markets;
                    (E) shift attention from concern over raising 
                awareness of trade to a refocusing on the problems of 
                managing the increasing complexity of globalization;
                    (F) extend beyond the challenges of sustaining a 
                flexible and educated workforce to the challenges of 
                exploring new or better ways to foster the types of 
                skills needed in a knowledge and information economy;
                    (G) extend beyond concern over cost of capital to 
                the challenges of achieving the dual objectives of 
                unlocking the value of underutilized knowledge assets 
                and insuring the efficiency and stability of the global 
                financial system;
                    (H) extend beyond a concern over competition from 
                Japan and the Southeast Asian Newly Industrializing 
                Countries (NICs) to the challenges of integrating many 
                countries, such as India, China, and Eastern European 
                nations, into the global economy; and
                    (I) include the challenges of new demographic 
                dynamics, including the aging of the so-called ``baby 
                boom'' generation, increased life expectancy, below 
                replacement fertility rates in most of the developed 
                world, and increasing populations in the developing 
                world.
            (9) In this information age, new ideas, business models, 
        and technologies, including computer and telecommunications, 
        the Internet, and the digital revolution, have combined to 
        alter the economy structurally.
            (10) Information, knowledge, and other intangible assets 
        now power our innovation process, which is based both on 
        science-based research and informal creativity and produces the 
        productivity and improvement gains needed to maintain 
        prosperity.
            (11) The range of knowledge, information, and intellectual 
        capital-based intangible assets driving economic prosperity 
        include worker skills and know-how, informal relationships that 
        feed creativity and new ideas, high-performance work 
        organizations, new business methods, intellectual property such 
        as patents and copyrights, brand names, and innovation and 
        creativity skills.
            (12) Economic statistics and accounting principles have not 
        caught up with this new economic environment.
            (13) All sectors of the economy are affected by this new 
        economic environment.
            (14) Small and medium-size firms are especially in need of 
        ways to better develop and utilize their information, 
        knowledge, and other intangible assets.
            (15) It is vital to the future strength of the United 
        States economy that, as new ideas, scientific discoveries, and 
        knowledge pervade the domestic and international economies, 
        United States firms be able to assess, absorb, and deploy these 
        opportunities quickly for competitive advantage.
            (16) While United States firms and workers lead the world 
        in creating and using information, knowledge, and other 
        intangible assets, increasing global competition means that the 
        United States Government and the private sector must continue 
        to develop the information economy in the United States in 
        order to ensure that the people of the United States prosper in 
        this new economic environment.
            (17) There is a need for an independent, bipartisan 
        undertaking comparable to the Young Commission to review the 
        new competitive challenges facing the United States and to 
        recommend a framework to guide the making of responsive public 
        policy, including the reorganization of the Federal Government 
        to promote efficiency and economy of operation, to promote 
        private initiatives, and to guide individual decisionmaking 
        about the future of the United States economy as governments, 
        business, labor unions, and the people of the United States 
        struggle with ways to utilize information, foster the 
        development of intangible assets, and promote innovation and 
        competitiveness in the new global information economy.

SEC. 3. ESTABLISHMENT AND PURPOSE.

    (a) Establishment.--There is established the Commission on the 
Future of the United States Economy (hereafter referred to as the 
``Commission'').
    (b) Purposes.--The purpose of the Commission are as follows:
            (1) To analyze the worldwide competitive challenges to 
        United States companies and workers.
            (2) To make recommendations in accordance with this Act, 
        for the making of responsive public policy, including the 
        reorganization of the Federal Government--
                    (A) to promote efficiency and economy of operation;
                    (B) to foster the skills and knowledge the people 
                of the United States need to prosper in the 21st 
                century;
                    (C) to strengthen the entire innovation system 
                undergirding the United States economy; and
                    (D) to stimulate the creation of knowledge, 
                inventions, partnerships, and other intangible assets 
                in order to maintain economic growth, income 
                generation, and job creation.

SEC. 4. COMPOSITION AND MEETINGS.

    (a) Composition.--The Commission shall be composed of 22 members as 
follows:
            (1) 17 voting members of whom--
                    (A) 9 members shall be appointed by the President;
                    (B) 2 members shall be appointed by the majority 
                leader of the Senate;
                    (C) 2 members shall be appointed by the minority 
                leader of the Senate;
                    (D) 2 members shall be appointed by the Speaker of 
                the House of Representatives; and
                    (E) 2 members shall be appointed by the minority 
                leader of the House of Representatives.
            (2) 5 non-voting ex officio members appointed by the 
        President from among the following officials:
                    (A) The Secretary of the Treasury.
                    (B) The Secretary of Commerce.
                    (C) The Secretary of Labor.
                    (D) The Secretary of Defense.
                    (E) The United States Trade Representative.
                    (F) The Chairman of the Council of Economic 
                Advisors.
                    (G) The Director of the Office of Science and 
                Technology Policy.
    (b) Qualifications for Voting Members.--
            (1) Requirements.--Persons appointed as voting members 
        under subsection (a)(1) shall be selected from among persons 
        who--
                    (A) are leaders or recognized experts in industry, 
                labor unions, research institutions, academia, and 
                other important social and economic institutions;
                    (B) have expertise in economics, international 
                trade, services, manufacturing, labor, science and 
                technology, education, business, or have other 
                qualifications or experience pertinent to the duties of 
                the Commission; and
                    (C) are not officers or employees of the United 
                States Government.
            (2) Additional consideration.--To the maximum extent 
        practicable, persons who are appointed as voting members shall 
        be persons who can provide new insights into analysis of the 
        nature and consequences of a knowledge-based economy.
    (c) Chairperson and Vice Chairperson.--The President shall 
designate one voting member of the Commission as Chairperson. The 
voting members of the Commission shall elect a Vice Chairperson from 
among the voting members of the Commission appointed by the majority 
leader of the Senate, the minority leader of the Senate, the Speaker of 
the House of Representatives, and the minority leader of the House of 
Representatives. The Vice Chairman shall not be affiliated with the 
same political party as the Chairman.
    (d) Initial Appointments; Vacancies.--
            (1) Initial appointments.--Members shall be appointed not 
        later than 60 days after the date of the enactment of an Act 
        making appropriations authorized under section 9.
            (2) Vacancies.--Any vacancy in the Commission shall not 
        affect its powers, but shall be filled in the same manner as 
        the original appointment.
    (e) Meetings.--
            (1) In general.--The Commission shall meet at the call of 
        the Chairperson.
            (2) Initial meeting.--The Commission shall hold its first 
        meeting not later than 30 days after all voting members of the 
        Commission have been appointed under subsection (a).
    (f) Quorum.--A majority of the voting members of the Commission 
shall constitute a quorum.
    (g) Voting.--Each voting member of the Commission shall be entitled 
to 1 equal vote.

SEC. 5. DUTIES OF THE COMMISSION.

    (a) Study.--
            (1) In general.--The Commission shall conduct a study of 
        the United States economy and the competitiveness of United 
        States companies and workers.
            (2) Scope.--In conducting the study under this subsection, 
        the Commission shall--
                    (A) review the findings and recommendations of 
                previous commissions, including the Young Commission, 
                and the studies (including resulting findings and 
                recommendations) of others that are relevant to the 
                work of the Commission, including the National 
                Innovation Initiative of the Council on 
                Competitiveness;
                    (B) analyze the current economic environment and 
                competitive challenges facing United States workers and 
                companies;
                    (C) review the strategies of other nations for 
                responding to the competitive challenges of the new 
                economic environment, and analyze the impact of those 
                strategies on the future of the United States economy;
                    (D) formulate specific recommendations on a broad 
                range of issues related to the development of the 
                skill-base and innovative capacity within the private 
                and public sectors of the United States economy and 
                other priorities related to the knowledge and 
                information economy, including recommendations 
                regarding--
                            (i) the reorganization of the Federal 
                        Government to promote efficiency and economy of 
                        operation;
                            (ii) education and training policy;
                            (iii) labor policy;
                            (iv) economic development;
                            (v) science and technology policy and 
                        organization;
                            (vi) intellectual property rights;
                            (vii) telecommunications policy;
                            (viii) international economic policy, 
                        including trade and finance and the management 
                        of globalization;
                            (ix) macroeconomic policy;
                            (x) financial regulation and accounting 
                        policy;
                            (xi) antitrust policy;
                            (xii) public and private infrastructure 
                        development and entrepreneurship; and
                            (xiii) small business development;
                    (E) formulate recommended policies and actions 
                for--
                            (i) transforming the education and training 
                        process in the United States as necessary to 
                        ensure effectiveness for facilitating life-long 
                        learning;
                            (ii) upgrading the skills of the United 
                        States workforce to compete effectively in the 
                        new economic environment, including mathematics 
                        and science skills, critical thinking skills, 
                        communication skills, language and 
                        intercultural awareness, creativity, and 
                        interpersonal relations essential for success 
                        in the information age;
                            (iii) promoting a broad system of 
                        innovation and knowledge diffusion, including 
                        nontechnological ingenuity and creativity as 
                        well as science-based research and development;
                            (iv) fostering the development of knowledge 
                        and information assets in all sectors of the 
                        United States economy, particularly those 
                        sectors of the economy in which rates of 
                        productivity and innovation have lagged, and in 
                        United States companies of all sizes, 
                        particularly small and medium-size companies;
                            (v) developing jobs that are rooted in 
                        local skills and local knowledge assets in 
                        order to lessen displacement resulting from 
                        ongoing global competition;
                            (vi) improving access to, and lowering the 
                        cost of, capital by unlocking the value to 
                        financial markets of underutilized knowledge 
                        assets;
                            (vii) strengthening the efficiency and 
                        stability of the international financial system 
                        (taking into account the roles of foreign 
                        capital and domestic savings in economic 
                        growth);
                            (viii) developing policies and mechanisms 
                        for managing the increasing complexity of 
                        globalization;
                            (ix) adjusting to the impacts of global 
                        demographic changes in the United States, other 
                        developed countries, and developing countries;
                            (x) improving economic statistics and 
                        accounting principles to adequately measure all 
                        sectors of the new economic environment, 
                        including the value of information, innovation, 
knowledge, and other intangible assets; and
                            (xi) improving understanding of how the 
                        Federal Government supports and invests in 
                        knowledge and other intangible assets;
    (b) Reports.--
            (1) Required report.--
                    (A) In general.--The Commission shall submit to 
                Congress and the President a report regarding the 
                competitive challenges facing the United States. The 
                report shall include conclusions and specific 
                recommendations for legislative and executive actions.
                    (B) Time for report.--The report under this 
                paragraph shall be submitted not later than the later 
                of--
                            (i) March 1, 2006; or
                            (ii) the date that is 18 months after the 
                        date of the initial meeting of the Commission.
            (2) Optional reports.--The Commission may submit to 
        Congress and the President interim or special reports as the 
        Commission determines appropriate.

SEC. 6. POWERS OF COMMISSION.

    (a) Hearings.--The Commission or, at its direction, any panel or 
regular member of the Commission, may hold hearings, sit and act at 
times and places, take testimony, and receive 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 Chairperson of the Commission, the head of such department or 
agency shall furnish such information to the Commission.
    (c) Gifts.--The Commission may accept, use, and dispose of gifts or 
donations of services or property.
    (d) Analysis, Reports, and Studies.--The Commission may procure 
analyses, reports, and studies from organizations or individuals other 
than Commission staff, notwithstanding the restrictions under section 
7(e) of this Act.
    (e) 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.
    (f) Support Services.--Upon request of the Chairperson of the 
Commission, the Administrator of General Services shall provide to the 
Commission on a reimbursable basis the administrative support necessary 
for the Commission to carry out its duties under this Act.

SEC. 7. 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 Chairperson 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 Chairperson of the Commission may 
        fix the compensation of the executive director and other 
        personnel without regard to the provisions of 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.
    (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 
Chairperson of the Commission may procure temporary and intermittent 
services to support and supplement Commission staff 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.
    (f) Applicability of Certain Pay Authorities.--An individual who is 
a member of the Commission and is an annuitant or otherwise covered by 
section 8344 or 8468 of title 5, United States Code, by reason of 
membership on the Commission shall not be subject to the provisions of 
section 8344 or 8468, as the case may be, with respect to such 
membership.

SEC. 8. TERMINATION OF THE COMMISSION.

    The Commission shall terminate 90 days after the date on which the 
Commission submits the report required under section 5(b)(1).

SEC. 9. AUTHORIZATION OF APPROPRIATIONS.

    There is authorized to be appropriated to the Commission 
$10,000,000 to carry out activities under this Act, to remain available 
until expended.
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