Textile and Footwear Quota Act

Textile and Footwear Import Quota Act - Establishes import quotas on certain textile and footwear articles as follows: (1) for 1972, the amount which may be entered into the United States may not exceed the average annual quantity entered during 1967, 1968, 1969; and (2) for any year after 1972, the amount which may be entered may not exceed the sum of the quantity determined under (1) plus any increase authorized by the President.

Authorizes the President to increase the quantity which may be entered by up to 5 percent of the quantity allowed into the United States during the preceeding year.