Short title

This Act may be cited as the

Inflation Working Group Act

Establishment

(a)

Establishment

There is established in the legislative branch the United States Working Group on Inflation (in this Act referred to as the Working Group). (b)

Membership

The Working Group shall be composed of 17 members. Members of the Working Group shall be appointed in accordance with the following: (1)Four members shall be appointed by the Speaker of the House of Representatives. (2)Four members shall be appointed by the minority leader of the House of Representatives. (3)Four members shall be appointed by the majority leader of the Senate. (4)Four members shall be appointed by the minority leader of the Senate. (5)One member, who shall serve as the Chairperson of the Working Group, shall be jointly appointed by the Speaker of the House of Representatives, the minority leader of the House of Representatives, the majority leader of the Senate, and the minority leader of the Senate. (c)

Qualifications; initial meeting

(1)

Qualification

It is the sense of Congress that individuals appointed to the Working Group should be prominent United States citizens with national recognition and significant depth of experience in macroeconomic policy. (2)

Initial meeting

The Working Group shall meet and begin the initial operation of the Working Group as soon as practicable, but not earlier than 15 days after the date of the enactment of this Act. (d)

Timing for appointment

All members of the Working Group shall be appointed not later than 10 days after the date of the enactment of this Act. (e)

Quorum; vacancies

After its initial meeting, the Working Group shall meet upon the call of the Chairperson or a majority of its members. A majority of members of the Working Group shall constitute a quorum. Any vacancy in the Working Group shall not affect its powers, but shall be promptly filled in the same manner in which the original appointment was made. (f)

Compensation

Each member of the Working Group who is not an officer or employee of the Federal Government may be compensated at a rate not to exceed the daily equivalent of the annual rate of basic pay in effect for a position at level III of the Executive Schedule under section 5314 of title 5, United States Code, for each day during which the member is engaged in the actual performance of the duties of the Working Group. (g)

Travel expenses

Each member of the Working Group shall receive travel expenses, including per diem in lieu of subsistence, in accordance with applicable provisions under subchapter I of chapter 57 of title 5, United States Code.

Powers

(a)

Contracting

The Working Group may, to such extent and in such amounts as are provided in appropriations Acts, enter into contracts to enable the Working Group to discharge its duties under this Act. (b)

Obtaining official data

(1)

In general

The Working Group may secure directly from any Federal department or agency information that is necessary to enable it to carry out its purposes and functions under this Act. Upon request of the Chairperson, the head of such department or agency shall furnish such information to the Working Group. (2)

Receipt, handling, storage, and dissemination

Information obtained by the Working Group shall only be received, handled, stored, and disseminated by members of the Working Group or its staff consistent with all applicable statutes, regulations, and Executive orders. (c)

Assistance from federal agencies

(1)

General Services Administration

Upon the request of the Working Group, the Architect of the Capitol shall provide to the Working Group, on a reimbursable basis, the administrative support services and office space necessary for the Working Group to carry out its purposes and functions under this Act. (2)

Other federal departments and agencies

In addition to the assistance prescribed in paragraph (1), Federal departments and agencies may provide to the Working Group such services, funds, facilities, staff, and other support services as determined advisable and authorized by law. (d)

Postal services

The Working Group may use the United States mail in the same manner and under the same conditions as Federal departments and agencies.

Staff

(a)

Appointment

(1)

In general

The Chairperson may appoint and fix the compensation of a Staff Director and such other personnel as may be necessary to enable the Working Group to carry out its purposes and functions, without regard to the provisions of title 5, United States Code, governing appointments in the competitive service, and without regard to the provisions of chapter 51 and subchapter III of chapter 53 of such title relating to classification and General Schedule pay rates, except that no rate of pay fixed under this subsection may exceed the equivalent of that payable for a position at level IV of the Executive Schedule under section 5315 of title 5, United States Code. (2)

Coverage under Congressional Accountability Act of 1995

For purposes of the Congressional Accountability Act of 1995 (18 U.S.C. 1301 et seq.)— (A)the Working Group shall be considered an employing office; and (B)the personnel of the Working Group shall be considered covered employees. (b)

Experts and consultants

The Working Group is authorized to procure temporary and intermittent services under section 3109 of title 5, United States Code, but at rates for individuals not to exceed the daily equivalent of the maximum annual rate of basic pay under level IV of the Executive Schedule under section 5315 of title 5, United States Code. (c)

Detailees

The head of any Federal department or agency may detail, on a nonreimbursable basis, any of the personnel of that department or agency to the Working Group to assist the Working Group in carrying out its purposes and functions.

Security clearances for members and staff

The appropriate Federal departments or agencies shall cooperate with the Working Group in expeditiously providing to the Working Group members and staff appropriate security clearances to the extent possible pursuant to existing procedures and requirements, except that no person may be provided with access to classified information under this Act without the appropriate security clearances.

Duties

(a)

Investigation

The Working Group shall investigate the recent causes of elevated inflation, as well as the relationships between inflation and the following: (1)Gross domestic product growth. (2)The labor market, workforce development, and hiring. (3)Poverty. (4)Crime. (5)Other factors of major societal concern. (b)

Report

(1)

Report

Not later than 3 months after the date on which a majority of the members of the Working Group have been appointed, the Working Group shall submit a report to Congress and the President setting forth the results of the investigation conducted under subsection (a), as well as recommendations for Congressional or other government action to mitigate the threat of sustained inflation. (2)

Public availability

The report under paragraph (1) shall be made publicly available and accessible.

Termination

The Working Group shall terminate 4 months after the date on which it submits the report under section 6(b).

Records

The records of the Working Group shall be transferred to the Center for Legislative Archives at the National Archives and Records Administration upon termination of the Working Group pursuant to section 7.

Funding

Of the amounts used to carry out this Act— (1)50 percent shall be derived from the existing balance of the applicable accounts of the House of Representatives as of the date of the enactment of this Act; and (2)50 percent shall be derived from the existing balance of the contingent fund of the Senate as of the date of the enactment of this Act.