15 U.S.C. § 3117 : US Code - Section 3117: Capital formation

Search 15 U.S.C. § 3117 : US Code - Section 3117: Capital formation

(a) Congressional findings
The Congress finds that -
(1) promotion of full employment and balanced growth is in
itself a principal avenue to high and sustained rates of capital
formation;
(2) high rates of capital formation are necessary to ensure
adequate rates of capacity expansion and productivity growth,
compliance with governmental health, safety and environmental
standards, and the replacement of obsolete production equipment;
(3) the ability of our economy to compete successfully in
international markets, the development of new technology,
improved working conditions, expanding job opportunities, and an
increasing standard of living depend on the availability of
adequate capital at reasonable cost to commerce and industry;
(4) an important goal of national policy shall be to remove
obstacles to the free flow of resources into new investment,
particularly those obstacles that hinder the creation and growth
of smaller businesses because general national programs and
policies to aid and stimulate private enterprise are not
sufficient to deal with the special problems and needs of smaller
businesses; and
(5) while private business firms are, and should continue to
be, the major source of investment, the investment activities of
the Federal, State, and local governments play an important role
in affecting the level of output, employment, and productivity
and in achieving other national purposes.
(b) Investment Policy Report; recommendations in President's
Budget; referral to Joint Economic Committee
The Economic Report shall include an Investment Policy Report
which shall, as appropriate, (1) review and assess existing Federal
Government programs and policies which affect business investment
decisions, including, but not limited to, the relevant aspects of
the tax code, Federal expenditure policy, Federal regulatory
policy, international trade policy, and Federal support for
research, development, and diffusion of new technologies; (2)
provide an assessment of the levels of investment capital
available, required by, and applied to small, medium and large
business entities; (3) provide an analysis of current foreseeable
trends in the level of investment capital available to such
entities; and (4) provide a description of programs and proposals
for carrying out the policy set forth in section 1021(i) of this
title. In addition, the Economic Report shall include an assessment
of the effect of the overall economic policy environment and the
rate of inflation on business investment. The President shall
recommend in the President's Budget, as appropriate, new programs
or modifications to improve existing programs concerned with
private capital formation. The President shall also transmit to the
Congress as part of the President's Budget such other
recommendations as the President may deem necessary or desirable to
achieve the policy as set forth in section 1021(i) of this title.
The Investment Policy Report, when transmitted to the Congress,
shall be referred to the Joint Economic Committee.
(c) Review in Economic Report of Federal policies and programs
which affect public investments; recommendations respecting new
policies or programs
The Economic Report referred to in subsection (b) of this section
shall review and assess Federal policies and programs which
directly, or through grants-in-aid to State and local governments,
or indirectly through other means, affect the adequacy, composition
and effectiveness of public investments, as a means of achieving
the goals of this chapter and the Employment Act of 1946 [15 U.S.C.
1021 et seq.]. The President shall recommend, as appropriate, new
programs and policies or modifications to improve existing Federal
programs affecting public investment.