National Commission on the Economy Act

National Commission on the Economy Act - Establishes the National Commission on the Economy to conduct a comprehensive study to determine: (1) the causes of (a) price instability; (b) erosion of consumer purchasing power; (c) the high rate of unemployment and serious problems of underemployment; (d) severe inflationary pressures; (e) shortages in certain essential commodities, raw materials, and finished products; (f) problems relating to productivity; and (g) such other economic problems as the Commission determines to have a significant impact on consumers; (2) the effectiveness of existing organizational and institutional arrangements in the Federal Government for establishing sound economic policies; (3) the impact on the economy of the major regulatory agencies of the Federal Government; (4) the adequacy of the data collection practices of the Federal Government as they relate to the formulation of economic policy; and (5) the impact on the economy of the fiscal and monetary policies of the Federal Government.

Provides that, in determining the causes of the current economic problems listed above, the Commission shall consider the impact of industrial concentration, international economic conditions, the activities of major multinational business firms, and the policies and programs of the Federal Government relating to such matters.

Requires the Commission to submit to the President and to the Congress a progress report (to be submitted one year after the date of the enactment of the first Act appropriating funds for the Commission) and a final report (to be submitted not later than two years after the date of the enactment of the first Act appropriating funds for the Commission) containing: (1) a detailed statement of the findings and conclusions of the Commission; and (2) the recommendations of the Commission formulated pursuant to this Act.

States that the Commission shall be composed of specified numbers of individuals representing the private sector and the legislative and executive branches of the Federal Government.