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

Nov 22, 2011 Press Release

New York, NY – U.S. Rep. Carolyn Maloney (D-NY) released the following statement today on the failure of the Congressional “supercommittee” on deficit reduction to reach a deal before the panel’s deadline this evening:

“My Democratic colleagues and I have long supported a balanced plan that would reduce the long-range deficit and strengthen our economic recovery.  I had hoped for a deal that would have created budget stability for years to come -- but this deal needed to be fair and not consist overwhelmingly of cuts to programs that the most vulnerable Americans depend on, or are needed to help create jobs now,” Maloney said.

Sep 23, 2011 Press Release

New York, NY – U.S. Rep. Carolyn Maloney today hailed the benefits for New York’s schools and transportation network that would be provided if the American Jobs Act (the balanced, bipartisan, and fully-paid-for job creation bill President Obama proposed earlier this month) is signed into law.  The jobs bill (H.R. 12) was introduced in the House on Wednesday.

Sep 15, 2011 Press Release

WASHINGTON, D.C. – U.S. Rep. Carolyn Maloney (D-NY), today applauded the approval by the U.S. Department of the Treasury of New York State’s Small Business Credit Initiative (SSBCI). The SSBCI program supports state-level lending to small businesses under the Small Business Jobs Act signed into law by President Obama last year.

Aug 31, 2011 Press Release

Statement of Rep. Carolyn Maloney on President Obama’s Upcoming Address to Congress.

Aug 8, 2011 Press Release

New York, NY – U.S. Rep. Carolyn Maloney (D-NY) issued the following statement on the decision by Standard and Poor’s (S&P) to downgrade America’s credit rating.

Aug 5, 2011 Press Release

“Today’s announcement that 117,000 jobs were added to the economy in July was better than expected – but our current unemployment rate is a sobering reminder of just how fragile our economic recovery continues to be.

Aug 5, 2011 Press Release

NEW YORK, NY - Today Congresswoman Carolyn Maloney (D-Manhattan, Queens) issued the following statement after President Obama signed into law an agreement on a short-term extension of the Federal Aviation Administration (FAA) that will enable the agency to end its partial shutdown and allow more than 70,000 Americans to return to work.

Aug 2, 2011 Press Release

WASHINGTON, DC-- Rep. Carolyn B. Maloney issued the following statement after voting "no" on S. 365, the bill which would raise the debt ceiling and make massive cuts over ten years to the federal budget.

Jul 26, 2011 Press Release

NEW YORK, NY – Following last night’s televised statements by President Barack Obama and House Speaker John Boehner (R-OH), Congresswoman Carolyn Maloney (D-Manhattan, Queens) released the following statement on extending the national debt ceiling, which the U.S. Treasury Department has said is set to be reached on August 2, 2011.

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