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Wage and price rules under the Economic Stabilization Program
A Q A guide from the Internal Revenue Service outlines Phase II price controls. It details that price increases must reflect cost rises after November 14 1971, with an overall 2.5 percent annual cap, and that certain adjustments may fall above or below this limit. It covers manufacturers service industries and retail wholesale price controls, base period posting, and pay standards for new labor agreements starting at 5.5 percent with review of contracts for consistency.
MENTIONED IN THIS ARTICLE
U. S. Internal Revenue Service
Public Service
The
Price Commission