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

Oct 4, 2007 Press Release
Washington, D.C. — Congresswoman Carolyn Maloney (D-Manhattan, Queens), House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Congressman Barney Frank, and Senators Chris Dodd and Charles Schumer wrote to President Bush yesterday, urging him to quickly address our nation’s escalating subprime mortgage crisis.  In addition, Rep. Maloney today expressed her strong support for H.R. 3648, the Mortgage Forgiveness Debt Relief Act, which the House will vote on this afternoon.  
Sep 18, 2007 Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), Chair of the Financial Institutions and Consumer Credit Subcommittee, released the following statement today after voting for the “Expanding American Homeownership Act of 2007” (H.R. 1852), which passed the House by a vote of 348 to 72:

Sep 12, 2007 Press Release

Washington, D.C. – Senator Charles E. Schumer, Chairman of the Joint Economic Committee (JEC) and Rep. Carolyn B. Maloney, Vice Chair of the JEC, released a new JEC and House Budget Committee analysis of total national and public debt incurred under the past five administrations.  The analysis highlights a proven track record of fiscal responsibility under Democratic administrations, and conversely a sharp increase in debt under Republican administrations.

Sep 7, 2007 Press Release
WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), Vice Chair of the Joint Economic Committee, issued the following statement today regarding the Bureau of Labor Statistics’ August 2007 employment situation:
Aug 28, 2007 Press Release

Washington, D.C. – Senator Charles E. Schumer, Chairman of the Joint Economic Committee (JEC) and Rep. Carolyn B. Maloney, Vice Chair of the JEC, today reacted to the U.S. Census Bureau’s release of its 2006 report on income, poverty and health insurance coverage in the United State s. Although median household income rose slightly in 2006, after adjusting for inflation, the report showed that all but the richest of American households have seen their incomes decline since 2000.

Jun 14, 2007 Press Release

Maloney, Dingell, Schumer, Reed Urged GAO to Examine Child Care, Family Leave, and Flex Time Programs in U.S. and Around the World

May 22, 2007 Press Release

Washington, D.C. – Investing in high-quality education is a cost-effective way of improving the life circumstances of children while also increasing U.S. economic growth over the long-term, according to new report by the Joint Economic Committee (JEC). In addition, a JEC fact sheet details the various federal and state tax credits available to families with children.

May 11, 2007 Press Release

Schumer and Maloney Release Joint Economic Committee Report Highlighting Progress Made and Work Still to Be Done to Give Military Moms the Benefits They Deserve

Washington, D.C. – U.S. Senator Charles E. Schumer and Rep. Carolyn Maloney (D-NY), Chairman and Vice Chairman respectively of the Joint Economic Committee (JEC), released a Mother’s Day report revealing that mothers serving in the military and spouses of soldiers face difficult child care access, leave and health care services challenges.  Women represent one in seven U.S. military personnel in Iraq.  Like all mothers, military moms face challenges in meeting monthly expenses, getting good child care and health care for their families and themselves. But military moms face the added burden of longer deployments and frequent separation from their children and spouses. While the military has taken steps to address the needs of mothers, the JEC report finds that more still needs to be done.

May 4, 2007 Press Release

WASHINGTON – The Bureau of Labor Statistics today reported that the U.S. economy added only 88,000 jobs in April – the slowest monthly job growth rate in two years.  The unemployment rate edged up to 4.5 percent, and growth in payroll employment has been modest by the standards of past economic recoveries. 

Apr 20, 2007 Press Release
Washington, D.C. – Rep. Carolyn Maloney (D-NY), Vice Chair of the Joint Economic Committee, today released a list of the top ten facts about the gender pay gap to mark Equal Pay Day – a day that indicates just how far into each year a woman must work to earn as much as a man earned in the previous year.

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