A bill to repeal the Economic Stabilization Act of 1970.

Repeals the Economic Stabilization Act of 1970.

States that whoever, prior to the date of enactment of this Act, willfully violates any provision of law repealed, shall be punished in accordance with such provision as in effect on the date such violation occurred.

Provides that such repeal shall not affect any suit, action, or other proceeding lawfully commenced prior to the date of this Act, or any proceeding based upon any act committed prior to such date.

States that no proceeding lawfully commenced by or against any agency or officer of the United States in relation to the discharge of official duties under any provision of law repealed shall abate, but the court, upon motion or supplemental petition filed at any time within twelve months after the date of enactment of this Act showing the necessity for the survival of such proceeding to obtain a settlement of the questions involved, may allow the same to be maintained.