A bill to amend and extend the Economic Stabilization Act of 1970.

Provides that the Presidential authority under the Economic Stabilization Act shall not be exercised to preclude the payment of any increase in wages which in the aggregate either equals or is less than 75 percent of the amount of aftertax profit received by the employer during the twelve month period prior to the agreement to pay such wages or which equals 5 1/2 percent whichever is higher.

Provides that the Economic Stabilization Act shall not be implemented in such a manner so as to decrease or limit the prices paid to farmers for agricultural products which are less than ten points above the 1910-1914 parity base for such parity base for such products.

Extends the provisions of the Act for one year to April 30, 1974.