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The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon on 15th August 1971 in response to increasing inflation.
Amended the Higher Education Act to indefinitely extend a grant program for Historically Black Graduate or Professional Schools. Pub. L. 104–141 (text) 1997 Individuals with Disabilities Education Act Amendments of 1997 Pub. L. 105–17 (text) 1997 Balanced Budget Act of 1997: Included a provision that repealed the Smith–Hughes Act.
December 10 – President Nixon signs a tax bill, cutting consumer and business taxes by 15.8 billion over the following three years, into law. [14] William Rehnquist is confirmed to the United States Supreme Court by a Senate vote of 68 to 26. [15] December 11 – United States Deputy Secretary of Defense David Packard resigns. [16]
August 2, 1971 163 11614 Establishing the National Business Council for Consumer Affairs August 5, 1971 164 11615: Providing for stabilization of prices, rents, wages, and salaries August 15, 1971 165 11616 Amending Executive Order No. 11491, relating to labor-management relations in the Federal service August 26, 1971 166 11617
It has a road map to elimination, sending block grants to states and redistributing major federal funding to other agencies, but it needs 60 votes in the Senate to pass and then be signed into law.
According to a CBS News analysis of federal data, these policies are one of the most common reasons for Social Security overpayments, which have totaled more than $450 million in fiscal years 2017 ...
August 15 is the 227th ... 1971 – President Richard Nixon completes the break from the gold ... [15] 2021 – Kabul falls into the hands of the Taliban as Ashraf ...
August 7 – Apollo 15 returns to Earth. August 11 – Construction begins on the Louisiana Superdome in New Orleans. August 15 – President Richard Nixon announces that the United States will no longer convert dollars to gold at a fixed value, effectively ending the Bretton Woods system. He also imposes a 90-day freeze on wages, prices and rents.