A bill to increase the authorization for the Council on Wage and Price Stability, to extend the duration of such Council, and for other purposes.

Amends the Council on Wage and Price Stability Act to increase the authorizations of appropriations for fiscal years 1980 and 1981.

Extends the authority of the Council through fiscal year 1981.

Requires the Director of the Council to initiate the formation within its administrative structure of a productivity section to advise the public and private sectors of the economy relative to their actions and report on the impact of productivity on consumers, workers, business, economic growth, and inflation.