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 6, 2006 Press Release
WASHINGTON, DC – The Department of Labor announced this morning that a mere 51,000 jobs were added in September, far below both forecasts and the 140,000 to 150,000 jobs needed every month just to keep up with the expanding workforce. This marks the fewest jobs created during any month in almost a year, and it adds to the raft of economic indicators showing that the economic recovery has not benefitted working Americans and the middle class.
Sep 14, 2006 Press Release
WASHINGTON, DC. – Today, Rep. Carolyn Maloney applauded the House of Representatives for passing by a vote of 362-57, H.R. 2965, “The Federal Prison Industries Competition in Contracting Act.” The legislation will require FPI to compete for contracts while continuing to offer rehabilitative work opportunities to federal prisoners.  It will also ensure that contracts are awarded to the company that will provide the best products, delivered on time, and at the best prices.
Aug 29, 2006 Press Release
WASHINGTON, DC – Today, the Census Bureau released the annual statistics on income, poverty and health insurance, which showed that the poverty rate in 2005 – 12.6 percent – was statistically unchanged from the year before. The poverty rate in 2000, the year before President Bush took office, was 11.3 percent. The percentage of Americans without health insurance increased from 15.6 percent to 15.9 percent from 2004 to 2005. In addition, the median household income is almost $1,300 lower after inflation than it was in 2000 despite a modest 1.1 percent increase in 2005.
Aug 3, 2006 Press Release
Washington, D.C. – Rep. Carolyn Maloney (D-NY) released the following statement responding to today’s release of the July 2006 employment numbers by the Bureau of Labor Statistics:
Jul 27, 2006 Press Release
WASHINGTON, DC – Top Democrats on the Joint Economic Committee are fighting to save a governmental survey that is critical for evaluating American living standards and the effectiveness of government programs. Rep. Carolyn Maloney (NY-14), JEC’s senior House Democrat, and Sen. Jack Reed (D-RI), JEC’s Ranking Member, today introduced legislation in the House and Senate that would keep the Census Bureau’s Survey of Income and Program Participation intact and create a multi-agency commission to review proposed changes to or elimination of the survey (Text of the legislation).
Jun 8, 2006 Press Release

WASHINGTON, DC – The Bush administration is being asked to answer questions about the elimination of a widely-used Census survey and its potentially broad impact on lawmakers’ ability to evaluate government programs and spending.  Joint Economic Committee ranking member Sen. Jack Reed (D-RI) and senior House Democrat Rep. Carolyn Maloney (D-NY), along with 10 colleagues in the House and Senate, have directed their questions about the Census Bureau’s endangered Survey on Income and Program Participation (SIPP) to Office of Management and Budget Director Rob Portman (letter on SIPP).

May 30, 2006 Press Release
WASHINGTON, DC – A Census Bureau news release last week touted a survey that the Bush administration has targeted for elimination as “invaluable” (click here for release – text below). The Survey for Income and Program Participation has tracked income, employment and government programs for more than 20 years, but the Bush FY07 budget would terminate the survey.
Apr 25, 2006 Press Release

WASHINGTON, DC – In an effort to end economic discrimination against women, U.S. Senator Jack Reed (D-RI) and Representative Carolyn Maloney (D-NY) today marked 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. Despite narrowing over time, the gender gap in earnings persists so that, on average, a woman still makes only about 77 cents for each dollar earned by a man, according to a background analysis by the Joint Economic Committee Democrats.

Apr 6, 2006 Press Release
WASHINGTON, DC - As the senior House Democrat on the Joint Economic Committee, Rep. Carolyn Maloney (NY-14) controlled one hour of floor debate for the Democrats.
Apr 6, 2006 Press Release

WASHINGTON, DC - Today, Reps. Carolyn B. Maloney (NY-14) and Barbara Lee (CA-9) saluted the National Council for Research on Women for its new study analyzing the impact of taxation on women. The book, Taxes Are a Woman’s Issue: Reframing the Debate, calls for tax policies that address the unique needs of women and families.

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