Economy

As a member of Congress and the Ranking Member on the Joint Economic Committee, Congresswoman Maloney is committed to making sure the economy works for everyone. Congress must ensure that the middle class and working families share in economic growth. America can strengthen its workforce and economy by investing in infrastructure, education, clean energy, and research and development, as well as promoting stronger workplace protections, more family-friendly leave policies, affordable childcare, a higher minimum wage, and support for small businesses.

Joint Economic Committee

The Joint Economic Committee was established by the Employment Act of 1946, the same legislation that created the President’s Council of Economic Advisers. The committee evaluates current economic conditions and makes economic policy recommendations to Congress. The committee holds hearings to discuss these current conditions and effects of government policy on the economy. It also frequently releases reports on different aspects of the economy, including employment, economic challenges, inequality, the export-import bank, and equal pay.

In the 111th Congress, Congresswoman Maloney was named the first woman Chair of the Joint Economic Committee. She currently serves as Ranking Member, the highest ranking Democrat, on this bicameral Congressional Committee.

The Joint Economic Committee, under the Congresswoman's direction, recently published a study, "Countering Misleading Claims about the Economy" which can be found here

For more on the Joint Economic Committee click here.

Select Highlights

  • In 2016, Phase I of the Second Avenue Subway will open, thanks to $1.3 billion in federal funds secured by Congresswoman Maloney. The new line will ease congestion on the Lexington Avenue line and provide the East Side with another sorely-needed link to Midtown. Construction of Phase I created 16,000 jobs and paves the way for new residential and commercial development on 2nd Avenue.

  • East Side Access, to connect LIRR to Grand Central Station, will help the nearly half of the service’s riders with destinations on the East Side. Congresswoman Maloney helped win over $2.6 billion in federal funding to make this important new link a reality.

  • In 2014 Congresswoman Maloney helped secure $670 million in federal funding for the reconstruction of the Kosciuszko Bridge—the largest single project in the history of the NY State Department of Transportation. This project is creating over 14,000 jobs during construction, and will help continue important economic growth in Brooklyn and Queens by upgrading the most-travelled bridge between these two boroughs.

  • Decades after the Equal Pay Act, women still earn less than men, even when they hold the same job. That’s why Congresswoman Maloney is leading the push to achieve equal pay. As the first woman to chair the Joint Economic Committee, she’s worked to highlight the important contributions of women to our economy, and to the livelihood of American families. Read about these efforts here.

  • As a senior Democrat on the House Financial Services Committee, Congresswoman Maloney is a tireless advocate for American consumers. In 2009, she authored and passed the Credit CARD Act, bringing groundbreaking transparency to credit cards and ending deceptive practices. She has also authored legislation to reign in abusive overdraft fees that cost consumers billions each year. Read more here.

More on Economy

Jul 23, 2015 Press Release

WASHINGTON – Joint Economic Committee (JEC) Ranking Democrat Carolyn B. Maloney (D-N.Y.) Thursday said the State of New York added 24,200 private-sector jobs in June for a total gain of 152,500 over the past year, while unemployment was down 0.2 percentage point from May for an unemployment rate of 5.5 percent.

Jul 15, 2015 Press Release

WASHINGTON – The nation’s labor force participation rate has been declining for several years, in large part due to the retirement of baby boomers, Joint Economic Committee (JEC) Ranking Member Carolyn Maloney (D-N.Y.) said Wednesday.

At a JEC hearing to examine how the flagging labor force participation rate reflects the health of the economy, Maloney said Republicans use the 62.6 percent labor participation rate to exaggerate ongoing challenges in the labor market.

Jun 24, 2015 Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) today delivered the following remarks on the floor of the U.S. House on the impending expiration of the Export Import Bank. 

“Mr. Speaker, there is just one more congressional work day before the charter for the US Export-Import Bank expires. 

Jun 17, 2015 Press Release

WASHINGTON – Reps. Carolyn B. Maloney (D-NY), Charles Rangel (D-NY), Ami Bera (D-CA) and Jared Polis (D-CO) today  joined leaders of Promundo, the Center for Urban Families and the National Partnership for Women & Families to unveil the first-ever State of the World's Fathers report.

May 8, 2015 Press Release

WASHINGTON– Congresswoman Carolyn B. Maloney (D-N.Y.), Ranking Democrat on the U.S. Congress's Joint Economic Committee (JEC), today released the following statement on the Department of Labor's announcement that the economy added 223,000 nonfarm jobs in April and the unemployment rate edged down to 5.4 percent. 

May 7, 2015 Press Release

NEW YORK – In anticipation of Mother’s Day, Joint Economic Committee (JEC) Ranking Democrat Carolyn Maloney (D-NY) released a new report that found the economic security of two-thirds of American families depends upon a mother’s earnings, and that mothers typically contribute about 40 percent to their families’ overall income. The report also found that mothers face a “Mommy Tax,” whereby they are paid 3 percent less than women without children.

May 1, 2015 Press Release

Chart showing the decline in the real value of the minimum wage from $22,600 for a full-time worker in 1968 to $15,080 in 2014WASHINGTON – Joint Economic Committee (JEC) Democrat Ranking Member Carolyn Maloney (D-N.Y.) issued the following statement today on the Raise the Wage Act, for which she is an original co-sponsor.

Apr 30, 2015 Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) today signed her name to a list of Democrats who are demanding a vote to extend the charter of the Export-Import Bank. Without Congressional action, the bank, which operates at no cost to taxpayers, will be eliminated on June 30. The discharge petition Maloney signed would require a vote on legislation to maintain the Bank once it achieves 218 signers.

Mar 6, 2015 Press Release
WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), Ranking Democrat on the U.S. Congress Joint Economic Committee (JEC), today released the following statement after the Department of Labor announced that the economy added 295,000 nonfarm jobs in February and the unemployment rate declined to 5.5 percent. February marked the 60th consecutive month of private-sector job growth, the longest streak on record.

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