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

Feb 18, 2011 Press Release
Washington, D.C. – U.S. Rep. Carolyn Maloney (D-Manhattan, Queens) released the statement below on the continuing resolution introduced by House Republicans to fund the federal government through the end of the year.  The House is expected to vote on the continuing resolution, HR 1, by the end of this week.  The Republican budget proposes $81 billion in cuts, which economists say would cost more than 800,000 jobs – just as the economy is emerging from the worst recession in generations.

“This budget proposal, the very first bill introduced by the new Republican majority, will cost more than 800,000 jobs.  Apparently, the Republican leadership is intent on picking up where former President Bush left off.

Jan 7, 2011 Press Release


WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) issued the following statement on today’s release of employment data for  December, 2010:

In the 111th Congress, I served as the Chair of the Joint Economic Committee and followed the monthly employment numbers closely.  So I am particularly pleased that we ended 2010 on a positive note with a gain of 113,000 private sector jobs---that is 12 straight months of private sector job gains.  During 2010, more than 1.3 million private sector positions were added, the most since 2006.  In the last three months of 2010, the economy added almost 400,000 jobs.

Dec 16, 2010 Press Release
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) today made the following statement on the House vote to extend Bush-era tax-cuts, along with an extension of unemployment insurance, reinstatement of the estate tax, and a 1-year payroll tax holiday:

Mr. Speaker, I rise in support of the tax cut package. This was a difficult decision. But on balance, this is the best deal struggling Americans are going to get.

Nov 18, 2010 Press Release
Washington, D.C. – Today, House Republicans blocked legislation to extend federal unemployment benefits for three months, despite the positive impact that unemployment benefits have in stimulating the economy. U.S. Rep. Carolyn Maloney (D-NY) voted for the legislation, which would have prevented an estimated 160,000 unemployed workers in New York State, including 95,000 in New York City, from losing their benefits by the end of the year.

Oct 21, 2010 Press Release
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY), Chair of the U.S. Congress Joint Economic Committee (JEC) and a senior member of the House Financial Services Committee, applauded the Administration’s newly-released report, “Jobs and Economic Security for America’s Women,” prepared by the National Economic Council (NEC). 
Oct 12, 2010 Press Release
New York, NY – U.S. Rep. Carolyn Maloney (D-Manhattan, Queens) today hailed the latest round of help for New York small businesses included in the Small Business Jobs Act, which passed the House with Maloney’s support and was signed into law by President Obama on September 27.
Oct 12, 2010 Press Release
New York, NY – U.S. Rep. Carolyn Maloney (D-NY) today applauded the recent action by the Small Business Administration (SBA) to begin implementing a program that will help women-owned small businesses compete for federal government contracts across dozens of industries where women are under-represented in federal contracting.
Sep 27, 2010 Press Release

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) hailed the signing of the Small Business Jobs Act today by President Obama. The final version of the bill was passed by the House last week after modifications by the Senate.

Sep 23, 2010 Press Release

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) offered the following remarks in support of the Small Business Jobs and Credit Act of 2010, H.R. 5297, which passed the House today.

Madam Speaker, the Small Business Jobs and Credit Act of 2010 (HR 5297) will strengthen our current economic recovery, by strengthening our small businesses.

This legislation is sorely needed to bolster our small firms, which have lagged their larger counterparts in recovering from the Great Recession.

Aug 10, 2010 Press Release
Washington, D.C. – Congresswoman Carolyn B. Maloney (D-NY) today hailed the House passage of the Education Jobs and Medicaid Assistance Act, which provides $10 billion in funding to create an Education Jobs Fund that is projected to save more than 161,000 teacher jobs nationwide. It also provides $16.1 billion in Medicaid assistance to the states that, by reducing state budget shortfalls and stimulating the economy, will save and create an additional 158,000 jobs and help prevent the layoffs of police officers and firefighters.

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