Economy
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As Chair of the Joint Economic Committee, I will continue to aggressively push to address the serious economic crisis our country faces. The Committee will focus on the economic crisis and recession as they unfold, and will be actively involved with crafting our path to recovery.
The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy. As Chair, I am committed to providing an accurate and up to date picture of our economy by holding hearings and releasing reports that review crucial aspects of our nation’s economic policy. Each week, the JEC’s staff prepares the Weekly Economic Digest. The Digest tracks and analyzes the trends of key economic indicators, such as employment, productivity, inflation, retail sales, housing starts, and the financial markets. Members of Congress and others find the digest useful as a quick reference for recent statistics on the economy.
Legislation
03/09/95 - H.R.1183, Social Security Sanctions Reform Act [104th Congress]
08/06/93 - H.R.2698, Retroactive Income Tax Increase Prohibition Act [103rd Congress]
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More on Economy
WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) today introduced an amendment in the House Financial Services Committee to H.R. 839, "The HAMP Termination Act of 2011" sponsored by Patrick McHenry (R-NC), whose bill would abolish the “Housing Affordable Modification Program” which was established to assist three to four million homeowners in achieving mortgage modifications. The Maloney Amendment would extend the program to accommodate 500,000 more mortgages before it ends.
“At best, this bill is a penny-wise-and-pound-foolish attempt to cut spending; in reality it will make things worse in the housing market. My amendment would help 500,000 more homeowners get the help they truly need and help stem the overall slide in the market,” Maloney said. “Recent housing price reports show that we are still dealing with the aftermath the housing bubble. Homeowners need more help. But the bills being debated in this committee eliminate most of the help that currently exists, and that’s just crazy. The prospect of more foreclosures which will further depress housing prices—that’s not what America needs right now.”
“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.
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.
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.