Concurrent resolution to establish an economic advisory board.

Directs the Joint Economic Committee to appoint an Economic Advisory Board. Authorizes the Board to make legislative recommendations and other recommendations for consideration by the Joint Economic Committee in performing its duties under this concurrent resolution, and where the Board cannot agree it shall, according to these rules and procedures, provide the Joint Economic Committee with alternative legislative and other recommendations.

Sets forth the duties of the Joint Economic Committee with the assistance of the Advisory Board, including the following: (a) assessing the state of the economy and determining the principal causes of the current inflation, unemployment, and recession; and (b) to the maximum extent possible, drafting legislative recommendations and other recommendations to reduce inflation, unemployment, and recession, both now and in the future, and reporting such recommendations to the majority and minority leaders of both Houses of Congress; and (c) determining what longer range studies are necessary to improve Congress' understanding of and ability to deal with the problems of inflation, unemployment, and recession and major economic ills; and (d) reviewing and making recommendations with respect to the process by which both Congress and the Executive formulate and execute economic policy.