Economy

Legislation | Links | Press Releases

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

02/12/97 - H.RES.92, Expressing the sense of the House of Representatives that the Bureau of Labor Statistics alone should make any adjustments, if any are needed, to the methodology used to determine the Consumer Price Index [105th Congress]

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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Links

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New York State Division of Military and Naval Affairs

The National Guard Bureau

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More on Economy

Rep. Maloney Report Details Effects of Credit Crunch on Hiring by Small Businesses

May 18, 2010 Press Release
New York, NY – At an event today at Baruch College, Congresswoman Carolyn B. Maloney, Chair of the U.S. Congress Joint Economic Committee (JEC), released a report showing that small businesses, which employ three out of every four workers in the United States, continue to face tight lending standards that are limiting their ability to hire new workers. Joining Maloney at today’s event were Shirley Leung, Economic Development Director of the Manhattan Chamber of Commerce; Dr. Edward Rogoff, of Baruch College’s Lawrence N. Field Center for Entrepreneurship; and New York small business owners Don Winter (of Encompass Media), Colleen Molter (of QED National) and Robert Schwartz (of Eneslow Shoes).

JEC Chair Maloney's Statement on April Jobs Report

May 7, 2010 Press Release
Washington D.C. - Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics' April jobs report showing that the unemployment rate increased to 9.9% and 290,000 total nonfarm jobs were added:


Rep. Maloney to NY Small Businesses: Health Care Tax Credit Available Now

Apr 20, 2010 Press Release

Washington, D.C. – Today, Rep. Carolyn Maloney (D-Manhattan, Queens) urged eligible New York small businesses to take advantage a substantial new health care tax credit available this year, thanks to the health care reform bill approved by Congress and signed into law by President Obama. Small businesses that provide -or begin providing- health care to their employees, have fewer than 25 workers, and have less than $50,000 in average annual wages per employee are eligible for the credit. The maximum credit available under the new law is equal to 35% of employers’ health care costs – with the maximum amount rising to 50% by 2014.

Maloney Hails Extension of Unemployment, Health Coverage

Apr 16, 2010 Press Release
Washington, D.C. – Rep. Carolyn Maloney (D-Manhattan, Queens) hailed the final passage yesterday of H.R. 4851, the Continuing Extension Act of 2010, legislation that extends unemployment and health insurance coverage for Americans who are out of work. The bill extends for two months provisions in the American Recovery and Reinvestment Act that provide for increases in the duration and amount of unemployment insurance benefits, and continues a 65% federal subsidy for COBRA health insurance premiums for people who are between jobs. President Obama signed the bill into law last night.

Rep. Maloney: “Jobs Numbers Show That New York’s Economy Continues To Recover”

Mar 26, 2010 Press Release
New York, NY – Congresswoman Carolyn B. Maloney (D-NY), Chair of the Joint Economic Committee, issued the following statement regarding the release of February unemployment data for the State of New York by the U.S. Bureau of Labor Statistics. The data showed that while the state’s unemployment did not change from January to February, remaining at 8.8%, non-farm employment increased by 5,800 jobs in New York.

JEC Chair Maloney’s Statement on February Jobs Report

Mar 5, 2010 Press Release
Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC) released the following statement on the Bureau of Labor Statistics’ February jobs report showing that the unemployment rate was unchanged at 9.7% and 36,000 total nonfarm jobs were lost:

Maloney: NYS Private Sector Jobs Increase, 1st Time Since April ‘08; High Unemployment Persists, More Action Needed To Spur Job Growth

Mar 5, 2010 Press Release
New York, N.Y. – Congresswoman Carolyn B. Maloney (D-NY), Chair of the Joint Economic Committee, issued the following statement regarding the release of the New York State Labor Department’s January 2010 state employment data. The data showed that private sector payrolls in New York State rose by 30,500 from December 2009 to January 2010. New York State’s unemployment rate ticked down to 8.8 percent in January. However, the release also contained a revision to the private sector job counts for April 2008 to December 2009, which showed that the number of private sector jobs fell more rapidly than was previously reported.

Maloney hails passage of jobs bill

Mar 4, 2010 Press Release
WASHINGTON, DC –Rep. Carolyn Maloney (D-NY) today voted to create hundreds of thousands of new small business and construction jobs this year, spur private sector hiring, and help rebuild crumbling infrastructure. The bipartisan Hiring Incentives to Restore Employment (HIRE) Act is part of a larger Congressional agenda to create jobs and strengthen the economy. 

Rep. Maloney Statement on This Week’s Anniversary of the Stimulus Bill

Feb 19, 2010 Press Release

New York, NY – Congresswoman Carolyn B. Maloney (D-Manhattan, Queens) issued the following statement on this week’s anniversary of the signing of the American Recovery and Reinvestment Act, also known as the stimulus bill:

Rep. Maloney Introduces Bill to Spur Job Growth

Feb 7, 2010 Press Release
New York, NY - Today, Congresswoman Carolyn B. Maloney (D-NY) announced that she has introduced in the House the Small Business Job Creation Tax Act of 2010 (H.R.4585), legislation that would provide tax credits for small businesses that create jobs.  Senators Kirsten Gillibrand and Robert Casey introduced the legislation in the Senate earlier this month.

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