Economic Stabilization Act of 1970 - Public Benefits

Public Benefits

This act had special provisions, some of which increased the employment opportunities for minorities, under the local manpower programs. These programs completed two tasks in one. First, this program in addition to providing an equal opportunity for minorities, under the Economic Stabilization Act which lead to the Equal Employment Opportunity Act. This created opportunities for those who were unemployed and "transitional" jobs for those who lost jobs. Secondly this program fulfilled the "unmet needs" for public assistance.

The Secretary of Energy under "power vested" by the act had to submit quarterly reports to the United States Congress in conjunction with the provisions of the Emergency Petroleum Allocation Act of 1973, to ensure the best prices for fuel in the country. The Public did not just benefit from initiatives made in the workforce. In the attempt to save social security from suffering from the effects of the inflation, Supplemental Security Income was established, to provide unemployed Americans with a cushion. Since Nixon had to separate the dollar from the gold standard, since the Gold Value decreased, Nixon decided to increase the cost of imports. The cost of imports allowed Americans to focus on American-made products to keep the money circulating throughout the American economy, resulting in a higher income for American workers.

To lull the anxieties of unemployment and the anxieties about the promises of the Economic Stabilization Act in conjunction with bettering public service,the President signed the Emergency Employment Act in 1971. The Act made specific provision for small businesses and created nearly "150,000 new jobs" in the "public sphere" in such fields as "education, environmental protection, law enforcement, and other 'public works'". The most prominent public work being the mass transportation systems. This Act, like the Economic Stabilization Act that influenced this one, required the President to issue periodic reports on all appropriations to Congress.

Under this act, the United States Congress convened to tackle the issue of rapid economic growth in metropolises and other urban environments. The goal was to provide efficient living for people living in these settings. The goal in more detail was to condense densely populated areas. The Housing and Urban Development department was established to provide good living and "attractive living environments" for these tenants and to conserve the energy and resources that are used in heavily populated urban areas. This Act provided people with low income with subsidized rent for affordable housing in privately owned buildings. This act was the "predecessor to the Section 8 rental subsidies".