Hill Panel Turns Conservative on Economic Policy: Economic Policy Agreement: Anti-Inflation,
The congressional Joint Economic Committee, in a dramatic turnabout l'rom its traditional liberal Democratic stance, yesterday recommended a set of moderately conservative economic policies givmg top priority to fighting inflation and spurring productivity and business investment.</br></br>The 251-page document, replete with cautious analysis and proposals for promoting prosperity by bolstering the private sector rather than the government, represented a major departure from the post-New Deal philosophy the panelÛªs Democrats have espoused in previous reports.</br></br>For the first time in 20 years, all members of'the committeeÛÓRepublicans as well as DemocratsÛÓendoiÛªsed the recommendations without major dissents or exceptions. Until this year, Republicans consistently filed a separate report that differed sharply with the majorityÛªs prescriptions.</br></br>The development reflects both the changed mood of Congress on economic issues and the ascendancy of conservative Sen. Lloyd M. Bentsen (D-Tex.) to the chair of the formerly liberal-dominated panel.</br></br>Bentsen and Rep. Clarence J. Brown (R-Ohio), ranking minority member, issued companion statements Mailing the new "consensusÛ as a significant achievement, in previous years, the panel had been so divided that its recommendations have had little impact.