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

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.

Mar 2, 2006 Press Release
WASHINGTON, DC - A plan to replace 2,600 Northwest Airlines flight attendants on international flights with foreign workers has been dropped as part of the tentative labor agreement between the airline and the Professional Flight Attendants Association. Rep. Carolyn Maloney (NY-14), who in November led 99 Members of Congress in urging Northwest’s CEO to scuttle the outsourcing plan, said today that she is pleased with the developments.
Jan 18, 2006 Press Release
WASHINGTON, DC - In 2005, American workers took home smaller paychecks, when adjusted for inflation. Despite the workforce’s increasing productivity, real hourly wages declined, dipping 0.5 percent last year, according to statistics released today by the Bureau of Labor Statistics (BLS).
Dec 19, 2005 Press Release
This administration, in concert with this Congress under this leadership, has given us five years of record debt and deficits. It seems that with each new month comes a new dubious record – just last week we learned that the trade deficit for October hit another all-time high.
Dec 15, 2005 Press Release
WASHINGTON, DC - Two lawmakers leading the fight against the gender wage gap have introduced legislation to establish an institute to continually examine the gap and make recommendations for businesses to combat it. This would be the first time an American institute would be created with the sole mission of studying the wage gap and issuing guidelines to close the gap. The Center for the Study of Women and Workplace Policy would be housed at a public university and would produce annual reports on wages, as well as best-practices guides for businesses.
Dec 13, 2005 Press Release
WASHINGTON, DC - In the wake of the recent Gulf Coast hurricanes, which have caused an estimated $60 billion in insured losses, it has become clear that the insurance system for catastrophic natural disasters may need reinforcement. Rep. Carolyn Maloney (NY-14) today introduced legislation that would create a federal reinsurance coverage program that would go into effect when losses top $50 billion in order to make sure that the insurance industry could sustain truly catastrophic events.
Nov 17, 2005 Press Release
WASHINGTON, DC - Today, Congresswoman Carolyn B. Maloney announced more than $2.2 million in funding for New York City social and cultural programs. Maloney fought for and secured $1.125 million in much-needed federal support for the Doe Fund and $1 million for the American Museum of Natural History. The funding is contained in the FY 2006 Science, State, Justice and Commerce Appropriations (SSJC) bill, which passed the Senate this week and is expected to be signed into law by the president.
Nov 16, 2005 Press Release
WASHINGTON, DC - As Northwest Airlines prepares to outsource 2,600 flight attendant jobs on international flights, there was action on Capitol Hill today to stop the plan. 88 bipartisan Members of Congress, led by Rep. Carolyn Maloney (NY-14), today urged Northwest CEO Doug Steenland to reconsider his company’s plan (view PDF document). Meanwhile more than 50 flight attendants, joined by the Association of Flight Attendants-CWA and the Professional Flight Attendants Association, visited Washington today to meet with lawmakers.
Oct 23, 2005 Press Release
QUEENS, NY - In front of a shut-down fire station in Queens, Congresswoman Carolyn B. Maloney and Assemblywoman Cathy Nolan demanded that crucial homeland security grants be distributed according to threat assessments, not politics. They were joined by Gerald J. Walsh, President, Dutch Kills Civic Association, Kurt Hill, Director of Outreach, People's Firehouse, Inc., and numerous community and civilian fire-safety advocates.
Oct 20, 2005 Press Release
WASHINGTON, DC - Two weeks after the Congress disallowed the forgiveness of loans for cash-strapped Gulf Coast municipalities, there is new Congressional legislation that would reverse course and allow those loans to be forgiven. The Bush administration and Republican Congress’s hard-line stance in opposition to forgiving Gulf Coast loans is in stark contrast to their hard-line stance that the Iraqi reconstruction not be burdened with loans.

Pages