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

Feb 18, 2016 Press Release

NEW YORK—Today, Congresswoman Carolyn B. Maloney (NY-12), joined by NYC Deputy Mayor for Housing and Economic Development Alicia Glen, appeared today at the Fashion Institute of Technology (FIT), along with FIT President Joyce Brown, to release a new report on the economic impact of the fashion industry.

Feb 9, 2016 Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) today released the following statement on President Obama’s FY2017 budget:

“President Obama’s 2017 budget is a serious proposal that takes on the big challenges we face in a constructive way. It would support the middle class with new investments in Pell Grants, early childhood education, and job training. It would expand tax credits for working families, increase access to child care, expand paid leave, enact comprehensive immigration reform and make strong investments in infrastructure and research.

Feb 8, 2016 Press Release

NEW YORK – Women hold just 16 percent of seats in corporate boardrooms, even though they make up almost half of the nation’s workforce, and the disparity won’t be eliminated until at least 2056, according to a Government Accountability Office report requested by Rep. Carolyn B. Maloney (D-NY-12).

Jan 12, 2016 Press Release
WASHINGTON -- Congresswoman Carolyn B. Maloney (D-NY-12) today released the following statement prior to President Obama’s final State of the Union address: “When President Obama took over from George W. Bush our economy was shedding hundreds of thousands of jobs per month, unemployment was rising, wages were falling, GDP was down, home prices were in freefall, and more than $13 trillion in household wealth had evaporated. We faced what former Federal Reserve Chairman Ben Bernanke called ‘the worst financial crisis in global history, including the Great Depression.’ The economic state of our union was weak.
Dec 8, 2015 Press Release

WASHINGTON – Joint Economic Committee (JEC) Ranking Democrat Carolyn Maloney, D-N.Y., issued the following statement Friday after the House and Senate approved a $305 billion transportation funding plan that included reauthorization of the Export-Import Bank charter.

Sep 24, 2015 Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) who attended Pope Francis’ address to Congress and will later attend the Vespers service at St. Patrick’s Cathedral in New York City today released the following statement:

Sep 4, 2015 Press Release

WASHINGTON– Congresswoman Carolyn B. Maloney (D-N.Y.), Ranking Democrat on the U.S. Congress Joint Economic Committee (JEC), Friday released the following statement on the latest jobs report. The Department of Labor announced that the economy added 173,000 nonfarm jobs in August, the unemployment rate dropped to 5.1 percent, and average hourly earnings for all nonfarm, private-sector employees increased eight cents to $25.09. 

Aug 7, 2015 Press Release

WASHINGTON – Joint Economic Committee (JEC) Ranking Member Carolyn Maloney (D-N.Y.) issued the following statement Friday after the Department of Labor announced that the economy added 215,000 nonfarm jobs in July and the unemployment rate remained unchanged at 5.3 percent. July was the 65th consecutive month of private-sector job growth, extending the longest streak on record.

Jul 28, 2015 Press Release

WASHINGTON – Joint Economic Committee (JEC) Ranking Member Carolyn Maloney (D-N.Y.) Tuesday asserted that dynamic scoring is an  unreliable Republican budget gimmick designed to mask the real cost of tax cuts.

”There is a serious problem with dynamic scoring – it provides results that are highly uncertain, vary wildly, and could be subject to manipulation,” Maloney said. It “change(s) the rules of the game so my Republican colleagues can get the results they want.

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