July 10, 1978
Page 19893
COMMITTEE ON THE BUDGET
Mr. MUSKIE. Mr. President, I wish to announce that the Senate Budget Committee will hold a hearing to examine the HUD task force report on housing costs at 10 a.m. on Friday, July 14, 1978, in room 6202, Dirksen Senate Office Building.
The committee will explore the recommendations of the task force and the HUD response. Close analysis of this report will provide a representative example of the impact of inflation and other factors in the rising costs of production. This information will greatly aid the work of the Budget Committee in identifying inflationary factors in the private sector and their impact on the economy as a whole.
Witnesses will include the Honorable Jay Janis, Undersecretary of the Department of Housing and Urban Development; Herman Smith, vice president of the National Association of Home Builders; and Mary C. Newhauser, former mayor of Iowa City, Iowa.
The committee has also scheduled a set of hearings on the second concurrent resolution on the budget for fiscal year 1979 on July 25, 26, and 27 in room 6202 of the Dirksen Senate Office Building. All hearings will begin at 10 am.
The purpose of these hearings is to permit the Senate Budget Committee to review economic and legislative developments since the adoption of the first budget resolution on May 15. This review will permit the committee to assess the need for any modifications or revisions in the budget totals recommended in May. The committee will then formulate the second budget resolution which will set the binding ceilings for congressional spending and a floor for revenue legislation for fiscal year 1979 which begins on October 1, 1978.
On Tuesday, July 25, The witness will be the Honorable James T. McIntyre, director of the Office of Management and Budget.
On Wednesday, July 26, the committee will hear from Dr. Charles Schultze, the chairman of the Council of Economic Advisors and Dr. Alice Rivlin, director of the Congressional Budget Office.
On Thursday, July 27, the committee will hear from three distinguished economists from the private sector: Dr. Herbert Stein; former chairman of the Council of Economic Advisers under President Nixon; Dr. Michael Evans, president of Chase Econometrics and Lawrence Chimerine, manager of U.S. Economic Research, International Business Machines Corp.
For further information, contact John McEvoy, staff director of the Senate Budget Committee at 224-0535.