PERAB (E.O. 13501)

Summary

Creates a board of outside experts to give the President non-political advice on how to help the economy grow, create jobs, and make the country prosperous.

What problem does this solve?

The President needs expert advice from outside the government to help guide plans for economic recovery. This order creates a special board of citizens to give the President ideas and information on making the economy stronger.

What does this order do?

Creates the President's Economic Recovery Advisory Board (PERAB)

Establishes a new advisory board within the Department of the Treasury to provide the President with information and advice on economic recovery.

Appoints outside experts to the board

The board will have up to 17 members appointed by the President from among citizens outside the government, chosen for their achievement, experience, and independence.

Defines the board's advisory role

The board's main job is to give advice. It will gather ideas, report to the President on economic policies, and provide analysis on the economy and banking system.

Sets a two-year lifespan for the board

The board will automatically end two years after its creation unless the President decides to extend it.

Requires government agencies to cooperate

All executive departments and agencies must cooperate with the board and give it any information or help it requests, as allowed by law.

Funds the board through the Department of the Treasury

The Department of the Treasury is responsible for providing the money and administrative support for the board's operations.

Who does this affect?

The President
Federal economic agencies
Appointed board members

What is the real world impact?

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Gathers expert advice for economic recovery

Forms a group of experienced citizens from outside the government to provide the President with independent and non-political ideas for strengthening the economy, creating jobs, and ensuring long-term prosperity.

When does this start?

This order takes effect on February 6, 2009, and includes a specific end date for the board.

Board Termination

The board will end its work two years from February 6, 2009, unless the President decides to extend it.