Acronyms (colloquial) EPCA Public law 77-421 | Effective January 30, 1942 Statutes at Large 56 Stat. 23 | |
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Long title An Act to further the national defense and security by checking speculative and excessive price rises, price dislocations, and inflationary tendencies, and for other purposes. Enacted by the 77th United States Congress | ||
Emergency Price Control Act of 1942 is a United States statute imposing an economic intervention as restrictive measures to control inflationary spiraling and pricing elasticity of goods and services while providing economic efficiency to support the United States national defense and security. The Act of Congress established the Office of Price Administration as a federal independent agency being officially created by Franklin D. Roosevelt on April 11, 1941.
Contents
- Provisions of the Act
- Title I General Provisions and Authority
- Title II Administration and Enforcement
- Title III Miscellaneous
- References
The H.R. 5990 legislation was passed by the 77th U.S. Congressional session and enacted into law by the 32nd President of the United States Franklin D. Roosevelt on January 30, 1942.
Provisions of the Act
The Emergency Price Control Act was penned as three titles specifying rulings for price controls regarding agricultural commodities, goods and services, and real property. The Act provided authority for enforcement, investigative reporting, and reviews of price stabilization schedules by the Office of Price Administration. The law specified a time limit whereas orders, price schedules, regulations, and requirements by the Act were to terminate by June 30, 1943.