Textile and Footwear Quota Act

Textile and Footwear Quota Act - Establishes import quotas on certain textile and footwear articles as follows: (1) for 1974, the amount which may be entered into the United States may not exceed the average annual quantity entered during 1967, 1968, and 1969; and (2) for any year after 1974, 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 preceding year.