Comprehensive Anti-Inflation Act of 1979

Comprehensive Anti-Inflation Act of 1979 - Title I: Coordination of Economic Policies - Amends the Employment Act of 1946 with the stated purpose of reducing the rate of inflation and keeping it within reasonable bounds.

Directs the President to include in each annual Economic Report a set of economic and regulatory policies designed to combat inflation which set forth: (1) fiscal policy targets; and (2) specific programs to achieve price goals.

Directs the Board of Governors of the Federal Reserve System to include in its annual report to Congress an independent statement of its intended monetary policies for the year.

Title II: Establishment of Guidelines - Requires the President to include in the Economic Report a set of guidelines to govern price increases and wage settlements. Authorizes the President to promote voluntary compliance with such guidelines. Prohibits the use of mandatory wage or price controls by the President.

Requires the Council of Economic Advisors to seek the advice and concurrence of the Council on Wage and Price Stability in establishing economic policies and guidelines.

Title III: Policies and Programs to Reduce Inflation - Directs the President, in order to achieve anti-inflation goals: (1) to consider reducing, or substituting for, taxes which significantly increase price levels; (2) to develop specific procedures to promote the promulgation of economically efficient and socially desirable regulations; (3) to deregulate industries over which the Federal Government has ratesetting authority; (4) to encourage the growth of productivity in both the private and public sectors; (5) to examine the use of tax incentives to hold cost increases to specified levels; (6) to strive to preserve agricultural production incentives and allow market forces to operate wherever possible; (7) to address the price implications of energy policies in the Economic Report; (8) to refrain from actions that abruptly raise energy prices unless ways are provided to offset the inflationary effects; (9) to seek ways to lower housing costs; (10) to set forth policies to limit the acceleration of health care costs; (11) to explore ways to increase competition in concentrated industries; and (12) to pursue negotiations for fair trade agreements with foreign nations.

Requires the Council of Economic Advisors and the Department of the Treasury to study the use of tax incentives to induce compliance with the President's wage and price guidelines established by this Act and to submit their findings and recommendations to Congress. Authorizes the Council on Wage and Price Stability to: (1) require certain businesses to notify the Council of significant price changes; (2) monitor all major wage settlements; and (3) publish a report on any violation of such guidelines.

Title IV: Congressional Review - Directs the Joint Economic Committee to hold special hearings to review the President's proposed economic policies and wage and price guidelines required under this Act and to submit its findings and recommendations to Congress. States that such guidelines shall become effective 30 days after submission unless Congress passes a concurrent resolution disapproving them.