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

Mar 6, 2015 Press Release
WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), Ranking Democrat on the U.S. Congress Joint Economic Committee (JEC), today released the following statement after the Department of Labor announced that the economy added 295,000 nonfarm jobs in February and the unemployment rate declined to 5.5 percent. February marked the 60th consecutive month of private-sector job growth, the longest streak on record.
Jan 20, 2015 Press Release

WASHINGTON – Congresswoman Carolyn Maloney (NY-12) released the following statement in reaction to President Obama’s 2015 State of the Union Address.

Jan 9, 2015 Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), Ranking Democrat on the U.S. Congress Joint Economic Committee (JEC), today released the following statement after the Department of Labor announced that the economy added 252,000 nonfarm jobs in December and the unemployment rate dropped to 5.6 percent. December marked the 58th consecutive month of private-sector job growth.

Dec 5, 2014 Press Release
WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), the Ranking House Democrat on the Joint Economic Committee, today released the following statement after the Department of Labor announced that the economy added 321,000 jobs and maintained an unemployment rate of 5.8 percent, the lowest unemployment rate since July 2008, during the month of November. This marks the 57th consecutive month of private sector job growth.
Nov 21, 2014 Press Release

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) has been reappointed by Democratic Leader Nancy Pelosi to serve as the Senior House Democrat on the Joint Economic Committee. The committee is tasked with reporting on the current condition of the economy and making suggestions to improve the economy. Maloney served as Chair of the Joint Economic Committee for the 111th Congress from January 2009 to January 2011 when Democrats held the majority. 

Nov 7, 2014 Press Release
WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), the Ranking House Democrat on the Joint Economic Committee, today released the following statement after the Department of Labor announced that the economy added 214,000 jobs and the unemployment rate dropped to 5.8 percent, the lowest unemployment rate since July 2008. With businesses adding 209,000 jobs, this marks the 56th consecutive month of private sector job growth.
Oct 3, 2014 Press Release

WASHINGTON- Congresswoman Carolyn B. Maloney (D-NY), the Ranking House Member of the Joint Economic Committee, today released the following statement on the Department of Labor Jobs report, which indicates a 55th consecutive month of private sector job growth. The economy added 248,000 jobs and the unemployment rate dropped to 5.9 percent.

Sep 16, 2014 Press Release

WASHINGTON — Congresswoman Carolyn B. Maloney (D-NY) today introduced new legislation, the Preserving Multifamily Housing Act of 2014, to prohibit the Federal Housing Finance Agency (FHFA) or other regulator from setting arbitrary limitations on the volume or scope of multifamily housing mortgages backed by Government Sponsored Enterprises (GSE) like Fannie Mae and Freddie Mac. Maloney says previous attempts by FHFA to limit multifamily housing would have limited the availability and affordability of apartments.

Apr 10, 2014 Press Release

WASHINGTON – Congresswoman Carolyn Maloney (D-NY), the Ranking House Democrat on the Joint Economic Committee, today led an hour of floor debate in opposition to the Republican budget plan proposed by House Budget Committee Chairman Paul Ryan (R-WI). Maloney and her colleagues drew contrast between the Democratic and Republican budget proposals. 

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