Establishment of the President's Economic Recovery Advisory Board
Signed February 6, 2009·Barack Obama·74 FR 6983
Source
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Plain-language summary
Establishes the President's Economic Recovery Advisory Board within the Department of the Treasury, made up of up to 17 members appointed by the President from outside government, with a Chair the President designates and a Staff Director the Chair appoints. The board's role is advisory only: it is to gather information from across the economy, report directly to the President on policies to promote economic growth, stabilize the financial and banking system, create jobs, and improve long-term prosperity, and share analysis with entities such as the Federal Reserve Board or the National Economic Council when the President deems it appropriate. Executive departments and agencies must cooperate with and assist the board as permitted by law, and Treasury is to fund and administer it within existing appropriations. Members serve without pay but may receive travel expenses. The board terminates two years after the order's date unless the President extends it.
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Legal standing
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Claimed authority
By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to enhance the strength and competitiveness of the Nation's economy and the prosperity of the American people by ensuring the availability of independent, nonpartisan information, analysis, and advice to the President as he formulates and implements his plans for economic recovery, it is hereby ordered
Quoted from the order as written. Many orders cite nothing more specific than “the Constitution and the laws”; this reproduces what the order claims, not an assessment of whether it holds.
Disposition
Revoked by: EO 13564, January 31, 2011
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The order, in full
Executive Order 13501 of February 6, 2009
Establishment of the President's Economic
Recovery Advisory Board
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, and in order to enhance the strength and
competitiveness of the Nation's economy and the
prosperity of the American people by ensuring the
availability of independent, nonpartisan information,
analysis, and advice to the President as he formulates
and implements his plans for economic recovery, it is
hereby ordered as follows:
Section 1. There is hereby established within the
Department of the Treasury the President's Economic
Recovery Advisory Board (PERAB). The PERAB shall
consist of not more than 17 members, who shall be
appointed by the President from among distinguished
citizens from outside the Government who are qualified
on the basis of achievement, experience, independence,
and integrity. The overall membership of the PERAB
shall reflect a diverse set of perspectives from across
the country and from various sectors of the economy.
The President shall designate a Chair from among the
members. The Chair shall appoint a Staff Director, who
shall supervise the staff of the PERAB.
Sec. 2. The functions of the PERAB are advisory only.
The PERAB shall meet regularly and shall:
(a) solicit information and ideas from across the
country and from all sectors of our economy about the
functioning of the economy, the condition of the
financial and banking system, and the prosperity of the
American people and of American industry that can serve
to inform the decisionmaking of the President, and,
with respect to matters deemed appropriate by the
President, provide information and recommendations to
any other agency with responsibilities related to the
economy or financial markets or to the National
Economic Council;
(b) report directly to the President on the design,
implementation, and evaluation of policies to promote
the growth of the American economy, establish a stable
and sound financial and banking system, create jobs,
and improve the long-term prosperity of the American
people; and
(c) provide analysis and information with respect
to the operation, regulation, and healthy functioning
of the economy and of the financial and banking system.
As deemed appropriate by the President, this analysis
and information shall be provided to the Chairman of
the Board of Governors of the Federal Reserve System,
to any other agency with responsibilities related to
the economy or financial markets, or to the National
Economic Council.
Sec. 3. Administration of the PERAB. (a) All executive
departments and agencies and all entities within the
Executive Office of the President shall cooperate with
the PERAB and provide such information and assistance
to the PERAB as the PERAB may request, to the extent
permitted by law.
(b) The Department of the Treasury shall provide
funding and administrative support for the PERAB to the
extent permitted by law and within existing
appropriations.
(c) Members of the PERAB shall serve without
compensation but may receive transportation expenses,
including per diem in lieu of subsistence,
as authorized by law for persons serving intermittently
in the Government (5 U.S.C. 5701-5707), consistent with
the availability of funds.
Sec. 4. Termination. The PERAB shall terminate 2 years
after the date of this order unless extended by the
President.
Sec. 5. General Provisions. (a) Insofar as the Federal
Advisory Committee Act, as amended (5 U.S.C. App.) (the
“Act”), may apply to the PERAB, any functions of the
President under the Act, except for those in section 6
of the Act, shall be performed by the Secretary of the
Treasury in accordance with the guidelines that have
been issued by the Administrator of General Services.
(b) Nothing in this order shall be construed to
impair or otherwise affect:
(i) authority granted by law to a department or agency,or the head
thereof; or
(ii) functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.
(c) This order shall be implemented consistent with
applicable law and subject to the availability of
appropriations.
(d) This order is not intended to, and does not,
create any right or benefit, substantive or procedural,
enforceable at law or in equity by any party against
the United States, its departments, agencies, or
entities, its officers, employees, or agents, or any
other person.
(Presidential Sig.)
THE WHITE HOUSE,
February 6, 2009.Reproduced from the Federal Register plain-text record, signed February 6, 2009. Typesetting artifacts are removed; no wording is changed.