ExecutiveOrdersEO
EO 13501Executive OrderObama · D

Executive Order 13501

Establishment of the President's Economic Recovery Advisory Board

This executive order creates the President's Economic Recovery Advisory Board (PERAB), a 17-member advisory body within the Department of the Treasury to provide independent, nonpartisan economic advice to the President during the 2008-2009 financial crisis. The board has purely advisory functions with no operational authority and is automatically set to terminate after two years unless extended.

Federal Register Open PDF 74 FR 6983

Impact dates

  1. PERAB automatic termination unless extended

  2. PERAB established; 2-year termination period begins

Key directives

  • Establish PERAB within Department of the Treasury
  • Limit membership to not more than 17 outside-government appointees
  • Ensure diverse perspectives across sectors and geography
  • Designate Chair from among members
  • Chair appoints Staff Director
  • PERAB functions are advisory only
  • All executive departments and agencies must cooperate with PERAB and provide requested information
  • Treasury provides funding and administrative support from existing appropriations
  • Members serve without compensation; may receive travel/per diem expenses
  • PERAB terminates 2 years after order date unless extended by President
  • Secretary of Treasury performs Federal Advisory Committee Act functions

Who is ordered

Timeline

Immediate

  • PERAB established within Treasury Department
  • agency cooperation requirements take effect

Near term (90d)

  • Presidential appointment of up to 17 members
  • designation of Chair
  • Chair appointment of Staff Director
  • board begins meeting regularly

Long term

  • 2-year termination clock begins (February 6, 2011 unless extended)
  • ongoing advisory reports to President on economic recovery policies

Risks & tensions

  • Advisory-only authority limits direct policy impact; effectiveness depends on President's willingness to act on recommendations
  • Potential tension between 'independent, nonpartisan' mandate and political pressures of economic crisis response
  • Vague 'to the extent permitted by law' qualifiers on agency cooperation and funding may create implementation friction
  • No specific reporting deadlines or meeting frequency defined—operational cadence at presidential discretion
  • Sunset provision creates institutional uncertainty; advisory continuity depends on presidential extension
Executive Order 13501: Establishment of the President's Economic Recovery Advisory Board · Executive Orders