A bill to amend the International Economic Policy Act of 1972 to change the membership of the Council on International Economic Policy, and for other purposes.

Eliminates, under the International Economic Policy Act, the President from membership on the Council on International Economic Policy. Directs the President to designate the Chairman from among the members of the Council.

Extends the provisions of the Act to expire on June 30, 1977 (previously June 30, 1973). Extends the authorization of appropriations through fiscal year 1974.