Economy
Related Issues on 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
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]
Links
More on Economy
Washington, D.C. – Today, Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee, made the following statement after the House passed the Conference Agreement for the American Recovery and Reinvestment Act, H.R. 1:
“The speed with which Congress, led by Speaker Pelosi, and President Obama have come together on this historic legislation demonstrates our unrelenting resolve to get Americans back to work and jumpstart our stalled economy as quickly as possible. The recovery bill will create millions of jobs, cut taxes for hard working families, provide basic necessities to families in need, and make investments necessary to transform our economy for the 21st Century. Economists, business leaders, and labor unions across the political spectrum know that decisive action is the only way to jolt our economy out of its intensifying tailspin. This bill will be on the President’s desk this weekend and our economy will be on the road to recovery.”Washington, D.C. – Today the Bureau of Labor Statistics (BLS) released its monthly jobs report for January. Rep. Carolyn B. Maloney, Chair of the Joint Economic Committee, released the following statement in reaction to the report and the persistently bad news about the 13th straight month of job losses:
“Today’s grim job loss numbers
underscore the human toll of our economic crisis and add to the
overwhelming evidence for getting a recovery package to the President’s
desk fast. Even the bright spots are dim. The 3.6 million jobs erased
since the recession started, including 598,000 last month, is why
President Obama and Congressional Democrats are dedicated to acting in
a bold and targeted way to revitalize the economy. We have a plan to
create and save up to 4 million jobs while cutting taxes for middle
class Americans. Democrats have tried to work with Republicans to find
middle ground, but so far House Republicans seem intent on letting the
economy slide off a cliff for political gain. Democrats must and will
ensure that they don't take our country with them.” – Rep. Carolyn B.
Maloney
Washington, D.C. – Statement of Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee, responding to today’s announcement by the Bureau of Economic Analysis that GDP fell by 3.8 percent in the last quarter of 2008:
“Today’s announcement that economic activity in the U.S. fell 3.8 percent last quarter confirms what Democrats have been saying for months – the economy is fundamentally unsound and it will only get worse unless a fiscal stimulus package is implemented immediately. The U.S. has not seen a quarterly decline in economic activity this large since 1982. Mass layoffs announced in January by big companies are foreshadowing a dismal first quarter this year. The American Recovery and Reinvestment Act, which passed the House of Representatives this week, makes critical investments in infrastructure and new technology, and provides tax rebates for middle class families who will spend the money quickly. Our plan will not only boost growth and job creation, but it will also help to restore confidence and put us on the road to economic revitalization.”
WASHINGTON, DC—Rep. Carolyn Maloney, D-NY, outlined preliminary staff analysis of New York’s share of the stimulus plan as passed by the House.
"The first breakdowns of the House stimulus package shows its huge impact on New York. An estimated $20 billion will be on its way to New York if the Senate passes, and President Obama signs, this legislation in its current form," Rep. Maloney said.
WASHINGTON, DC-- Rep. Carolyn Maloney (D-NY) issued this comment today upon passage of the American Recovery and Reinvestment Act:
"The current economic crisis requires bold solutions that address the enormity of our economic woes, and the American Recovery and Reinvestment Plan will do just that. It will blunt the effects of the recession and help families in need, it will create millions of jobs and make key infrastructure investments in our future," Rep. Maloney said.
“One of the last acts of the Bush administration before turning out the lights is issuing their 2009 Economic Report of the President, but this report bears little resemblance to the dire economic realities that most American families and businesses confront today.
Washington, D.C. – Congresswoman Carolyn B. Maloney (D-NY), issued the following statement regarding the Bureau of Labor Statistics’ December 2008 employment situation, which showed that the unemployment rate spiked to 7.2 percent and nonfarm payrolls fell by 524,000 jobs. Since the start of the recession in December 2007, the economy has lost 2.8 million private sector jobs, but due to government hiring, the economy has lost only 2.6 million jobs overall. Nearly 2 million jobs have been lost in the last four months alone.