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

Jun 3, 2011 Press Release

WASHINGTON, DC – Congresswoman Carolyn Maloney (D-NY) issued the following statement today the release of new Labor Department data indicating that the U.S. economy added 54,000 jobs in May, with unemployment climbing to 9.1 percent.

Apr 1, 2011 Press Release
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee and immediate past Chair of the Joint Economic Committee, issued the following statement on today’s jobs numbers released by the Bureau of Labor Statistics.

“Today’s announcement of 216,000 private sector jobs created in March and a drop in the unemployment rate from 8.9 to 8.8 percent—and a full point drop in just the last four months--marks the rise of employment for the 13th straight month. So after two years of hard work on the part of the administration and Democrats in Congress, our efforts are bearing fruit, slowly but surely.



Apr 1, 2011 Press Release
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), today issued a report summarizing the impact on women of the House Republicans’ spending bill, which will be considered as H.R. 1255, after previous consideration as H.R. 1.

“While the proposed cuts would be devastating to Americans as a whole, this bill will change the daily lives of women for the worse,” Maloney said in her report, viewable here. “This is a distinct, frontal attack on the needs of women, from birth to old age:


Mar 16, 2011 Press Release
WASHINGTON, D.C. – Rep. Carolyn Maloney (D-NY) today introduced legislation, “The StartUp Visa Act of 2011,” H.R. 1114, to encourage innovation and economic growth by permitting immigrant entrepreneurs greater access to temporary U.S. visas. The bill matches legislation introduced this week by Senators John Kerry, Richard Lugar, and Mark Udall in the Senate.

Mar 16, 2011 Press Release
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, today offered an amendment on the House floor to H.R. 631, “The NSP Termination Act,” which would list the state-by-state quantities of vacant homes.
Mar 9, 2011 Press Release

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) today introduced an amendment in the House Financial Services Committee to H.R. 839, "The HAMP Termination Act of 2011" sponsored by Patrick McHenry (R-NC), whose bill would abolish the “Housing Affordable Modification Program” which was established to assist three to four million homeowners in achieving mortgage modifications. The Maloney Amendment would extend the program to accommodate 500,000 more mortgages before it ends.

“At best, this bill is a penny-wise-and-pound-foolish attempt to cut spending; in reality it will make things worse in the housing market. My amendment would help 500,000 more homeowners get the help they truly need and help stem the overall slide in the market,” Maloney said. “Recent housing price reports show that we are still dealing with the aftermath the housing bubble. Homeowners need more help. But the bills being debated in this committee eliminate most of the help that currently exists, and that’s just crazy. The prospect of more foreclosures which will further depress housing prices—that’s not what America needs right now.”

Feb 18, 2011 Press Release
Washington, D.C. – U.S. Rep. Carolyn Maloney (D-Manhattan, Queens) released the statement below on the continuing resolution introduced by House Republicans to fund the federal government through the end of the year.  The House is expected to vote on the continuing resolution, HR 1, by the end of this week.  The Republican budget proposes $81 billion in cuts, which economists say would cost more than 800,000 jobs – just as the economy is emerging from the worst recession in generations.

“This budget proposal, the very first bill introduced by the new Republican majority, will cost more than 800,000 jobs.  Apparently, the Republican leadership is intent on picking up where former President Bush left off.

Jan 7, 2011 Press Release


WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) issued the following statement on today’s release of employment data for  December, 2010:

In the 111th Congress, I served as the Chair of the Joint Economic Committee and followed the monthly employment numbers closely.  So I am particularly pleased that we ended 2010 on a positive note with a gain of 113,000 private sector jobs---that is 12 straight months of private sector job gains.  During 2010, more than 1.3 million private sector positions were added, the most since 2006.  In the last three months of 2010, the economy added almost 400,000 jobs.

Dec 16, 2010 Press Release
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) today made the following statement on the House vote to extend Bush-era tax-cuts, along with an extension of unemployment insurance, reinstatement of the estate tax, and a 1-year payroll tax holiday:

Mr. Speaker, I rise in support of the tax cut package. This was a difficult decision. But on balance, this is the best deal struggling Americans are going to get.

Nov 18, 2010 Press Release
Washington, D.C. – Today, House Republicans blocked legislation to extend federal unemployment benefits for three months, despite the positive impact that unemployment benefits have in stimulating the economy. U.S. Rep. Carolyn Maloney (D-NY) voted for the legislation, which would have prevented an estimated 160,000 unemployed workers in New York State, including 95,000 in New York City, from losing their benefits by the end of the year.

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