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

Jan 10, 2014 Press Release

WASHINGTON – Rep. Carolyn B. Maloney (D-NY), Ranking House Member of the Joint Economic Committee, issued the following statement on the December Employment Report.
 
“After 46 consecutive months of private sector job growth and 8.2 million jobs created during that time, the unemployment rate is now at its lowest point since October 2008. We’ve come a long way, but we still have a long way to go. 

Jan 7, 2014 Press Release

New York, NYRep. Carolyn Maloney (NY-12) today called for a restoration of emergency unemployment benefits that have expired for 110,000 New Yorkers and 1.3 million nationwide. She was joined by Rep. Jerry Nadler (NY-10), Organizing for Action New York, representatives from New York labor unions and area residents affected by the expiration of benefits.

Aug 2, 2013 Press Release

WASHINGTON, DC – Rep. Carolyn B. Maloney (D-NY), former chair of the Joint Economic Committee, today issued the following statement after the Department of Labor announced that the economy added 162,000 jobs and the unemployment rate fell to 7.4 percent in July:

Dec 7, 2012 Press Release

WASHINGTON, DC – New York Reps. Carolyn Maloney (D), Jerrold Nadler (D), and Peter King (R) today sent a letter to the leaders of the House and Senate and President Obama asking that the programs created by the James Zadroga 9/11 Health and Compensation Act be exempted from the automatic budget cuts mandated by the 2011 debt-limit bill if no agreement is reached in deficit negotiations between the President and Congress to avert the so-called “fiscal cliff.”

 

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