Cost of Living Act

Cost of Living Act - Specifies the techniques and methods to be used by the President to monitor public and private economic activity in order to constrain domestic inflation.

States that the President may, for the purpose of carrying out this Act, require the keeping of records, the making of reports and inspections, and the taking of sworn testimony as may be necessary or appropriate to obtain information crucial to achieving the purposes of this Act. Specifies information which the President shall not be entitled to request.

Provides that the President may establish a board or commission of specified composition, along with advisory committees, to carry out the purposes of this Act. States that experts and consultants may be employed for the performance of functions under this Act.

Requires the President, in carrying out his authority under this Act, to study and evaluate the relationship between excess profits, the stabilization of the economy, and the creation of new jobs.

Authorizes the appropriation of funds to carry out the provisions of this Act.

States that this Act shall become effective on May 1, 1974, and expire on April 30, 1975.

Stipulates that nothing in this Act shall be construed to alter the Emergency Petroleum Allocation Act.