This report discusses the current state of monetary policy. Questions about the continued capability of the Federal Reserve System (FRS) to exercise effective monetary control were raised in connection with several developments over recent years that diminished, in relative terms, the deposit component of the stock of money over which the FRS maintained reserve requirement controls. The Monetary Control Act, Title 1 of P.L. 96-221 was designed to ensure that the FRS as ability to conduct monetary policy is not diminished. This Act, signed into law on Mar. 31, 1980, is one of the few major amendments to the original Federal Reserve Act of 1913.
It is the purpose of this paper to present the range of viewpoints concerning the causes of inflation. Inflation is defined and distinguished from changes' in relative prices. The Monetarist, Post-Keynesian, and neo-Keynesian positions are discussed to illustrate the variety of perceptions as to the sources of sustained increases in the general price level.
"Enterprise zones" as a concept originated in England in the late 1970s. The idea is to free certain specified urban areas of taxes and government regulations to encourage private business investment and create new jobs. Empirical evidence to support the concept is lacking. This paper contains a discussion of the concept of enterprise zones, without reference to any legislative proposals in the United States. Analyses of legislation will appear as prime sponsors introduce new bills.
Expenditures and revenue limitation proposals link Federal spending and taxation to some measure of economic performance, such as the rate of economic growth or percentage levels of GNP or national income. The report presents this issue brief reviews, the various approaches to balance the budget and to impose spending limitations offered as constitutional amendments’ in the 97 congress.
The recent Department of Defense proposal to develop a capability to modernize and expand the current U.S. chemical warfare munition stocks with binary nerve agent munitions has focused attention on the subject of chemical warfare. This paper provides a brief introductory discussion of modern chemical warfare, describing the types of agents, delivery methods, and defense against chemical agents. It does not discuss policy, strategy, tactics, or disarmament aspects of chemical warfare. These issues w i l l be covered i n CRS Issue Brief IB 8l08l .
This paper explores selected questions involving the busing of elementary and secondary school students for desegregation. On each of the selected questions a general analysis of the issue involved is presented, followed by two subsections entitled A Critic's Position and An Advocate's Position. In these subsections, an attempt is made to show how a critic of busing for desegregation and an advocate of such busing might fashion arguments on this issue in opposition to, or in support of, busing.
This report presents a general analysis of personal staff functions in a congressional office. Because there is little specific information from Congress and other sources regarding staff job descriptions and because congressional office organization patterns very significantly, this report focuses on the staff functions that are common to all offices regardless of organizational structure or job title: office management; mail; projects; casework; legislation; schedulng and personal services; press and public relations; and political functions.
This paper sets forth questions that a congressional office needs to consider in the process of closing down. These include statutory and non-statutory matters such as staff, the franking privilege, retirement benefits for Members and staff, allowances, and the disposition of congressional papers, and other office items.
The report examines the current debate in the United States over proposals for increased U.S. military sales to China. The study first examines the background of U.S.-China security ties since the Nixon Administration, and then sets forth the parameters of the current debate by noting a number of issues concerning U.S. military transfers to China on which all sides generally agree. It shows that Americans familiar with the issue tend to identify with different groups of opinion or "schools of thought" on the question of U.S. military transfers to China, and provides a detailed pro-con analysis of the issue. It concludes by noting cross pressures that are likely to greet U.S. policy makers as they grapple with this issue in the months ahead and offers an assessment of four policy options of possible use by U.S. policymakers.
This report consolidates various data on the national debt; it presents changes and comparisons of the debt for the years 1955 to 1980. The report also contains information on the public debt limit, the ownership of the public debt, and the debt owed by several sectors of the economy.
One of the main issues discussed in this report is the replacement of the B-52 bombers, due to the fact that many believe that by 1990, the B-52's vulnerability to improving Soviet air defenses will imperil its effectiveness as a penetrating bomber.
This report gives an economic analysis of usury ceilings, laws which set the maximum legal rate of interest to be charged on particular types of loans. It provides a brief overview of recent Federal l e g i s l a t i o n dealing with usury, with special emphasis on the Federal authorities mandated by P.L. 96-221, and the effectiveness of Federal preemption of State usury laws.
This bibliography provides the reader an overview of the growth, development, responsibilities, and duties of personal staffs of Senators and Representatives and the staffs of congressional committees, as seen and studied by academicians, journalists, former Members of the House and Senate, and former staff members.
This report includes the material on block grants, including a CRS Report on the Omnibus Reconciliation Act of 1981, several articles, and a guide to State block grant implementation. For additional information and assistance, we have also included addresses of people to contact on the Federal (p. 59) and State levels (p. 70-104).
The decision on how to redress the perceived vulnerability of U.S. intercontinental ballistic missiles (ICBMS) is the most controversial strategic nuclear weapon decision now facing the 97th Congress. A full-scale debate on this issue, especially as regards MX missile basing, seems certain. To assist Members of Congress in the debate, this paper discusses nine proposals for treating ICBM survivability: Recognize that ICBMs are invulnerable, rely only on bombers and submarines for deterrence, deploy a large or scaled-down shell-game multiple shelter system, defend MX with anti ballistic missiles, launch ICBMs on warning of attack, deploy MX on aircraft or small submarines, and diversify strategic forces, perhaps using small ICBMs.
In 1973 the U.S. Supreme Court held that the Constitution protects a woman's decision whether or not to terminate her pregnancy, Roe v. Wade, 410 U.S. 113, and that a State may not unduly burden the exercise of that fundamental right by regulations that prohibit or substantially limit access to the means of effectuating that decision, Doe v. Bolton, 410 U.S. 179. But rather than settling the issue, the Court's rulings have kindled heated debate and precipitated a variety of governmental actions at the national, State and local levels designed either to nullify the rulings or hinder their effectuation. This brief discusses this ongoing issue, including related legislation and judicial history.
This report provides an overview of the commercialization of academic research h in the field of biotechnology. It offers a brief definition, background and policy analysis, as well as legislation and hearings regarding the topic.
The improved political relationship between the United States and the People's Republic of China (P.R.C.), initiated by the Nixon Administration and furthered by the Carter Administration's decision to establish diplomatic relations, has spurred a rapid increase in Sino-U.S. trade. While still small relative to overall U.S. foreign trade, the volume of trade represents an abrupt shift from the no-trade policy that had been pursued since 1950. Despite the rapid expansion, outstanding issues remain as serious barriers to normalized trade. Resolution of those issues may require concession or accommodations by the Chinese leadership as well as action by both the U.S. Congress and the Executive Branch. However, the development of a new approach to foreign economic relations by the post-Mao Chinese leadership and the establishment of diplomatic relations have laid the ground work for a further expansion of commercial relations.
In 1979, a time of clear downturn in U.S.-Soviet relations over such sensitive issues as SALT, Soviet troops in Cuba, and the Soviet invasion of Afghanistan, the Carter Administration moved ahead with a series of measures designed to improve relations with Moscow's major adversary in Asia, the Peoples Republic of China (P.R.C.). The purpose of this report is to provide background for and summarize current developments in U.S. - People’s Republic of China (PRC) relations, including current and pending congressional actions involving the PRC.
This report provides a perspective on the role of tender offers in corporate mergers and acquisitions and on the nature of financing used to carry them out. Analyzing SEC data on corporate takeovers, it classifies by industry those firms for which tender offers were made in 1979 and 1980 and examines the sources of funds used in these acquisition bids. Comparing SEC data with information compiled by FTC and others, it assesses the importance of tender offers in overall merger and acquisition activity. The report focuses mainly on domestic mergers, but foreign takeovers of U.S. companies also are discussed.
This report provides background information and a general overview of the role of human rights in U.S. foreign policy. It includes a discussion of some traditional arguments about how international human rights concerns might be integrated with other foreign policy factors. It also includes a discussion of the definition of human rights, of U.S. international obligations to promote human rights, and the apparatus and procedures available to the U.S. Government for implementing human rights policy. Particular attention is paid to congressional actions, not only in debating and holding hearings on human rights issues, but especially in enacting laws to assure that U.S. foreign policy formulation and practice include consideration of the status of human rights in other countries.
This report discusses the MX Intercontinental Ballistic Missile (ICBM),which is designed to be the most lethal strategic ballistic missile in the world. The missile was developed by the U.S. Air Force to augment the capabilities of the presently deployed ICBM force, which together with Submarine Launched Ballistic Missiles (SLBMs) and manned strategic bomber aircraft form the triad of U.S. strategic nuclear offensive forces.
Debate over natural gas pricing has included the consideration of a windfall profit tax, with the oil windfall profit tax as a possible guide to what might be levied on natural gas at the wellhead. This report reviews the issues surrounding the enactment of the crude oil windfall profit tax, spells out its provisions, and provides data on the revenues collected and anticipated.
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