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
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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.
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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.
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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.
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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
WASHINGTON – During Thursday’s hearing of the U.S. Congress Joint Economic Committee (JEC), Ranking Democrat Carolyn B. Maloney (NY-12) called for a balanced approach to the federal budget, including both policies to deal with long-term drivers of the debt and policies to lay the groundwork for economic growth.
NEW YORK – Today, Rep. Carolyn Maloney (D-NY), Ranking Member of the U.S.
In the rough and tumble of presidential campaigns — rougher this year than ever before — facts are sometimes lost in the debate. But one fact that voters should keep in mind — one that is incontrovertible — is that the U.S. economy performs better under Democratic presidents than Republican ones.
WASHINGTON, D.C. – Congresswoman Carolyn B. Maloney (NY-12) introduced legislation today in the House of Representatives to give small businesses in developing communities more access to affordable credit. H.R. 5113, the Investing in America’s Small Businesses Act of 2016 would provide grants to Community Development Financial Institutions (CDFIs) to establish loan-loss reserve funds for small business microloans under $50,000, allowing CDFIs to leverage private investments to expand their small business lending programs.
Like a cold that you just can’t shake, supply-side economics enthusiasts just won’t go away.
NEW YORK, NY – Congresswoman Carolyn B. Maloney (D-N.Y.), Ranking Member of the U.S. Congress Joint Economic Committee (JEC), released a new report today offering a fresh perspective on the frequently referenced fact that a woman working full time, year-round earns only 79 percent of what a man earns. The report, Gender Pay Inequality: Consequences for Women, Families and the Economy, comes in advance of this year’s Equal Pay Day, Tuesday, April 12.
New York—Congresswoman Carolyn B. Maloney (NY-12) today released the following statement about the recently passed New York State budget:
Republican presidential candidates often claim they manage the economy better than the Democrats. Ted Cruz says his flat tax will create 5 million new jobs. Donald Trump promises a “really dynamic economy.” And Marco Rubio, before leaving the race, claimed that his plan to reduce the corporate tax rate would cause the economy to soar.
NEW YORK—Today, Congresswoman Carolyn B. Maloney (NY-12), joined by NYC Deputy Mayor for Housing and Economic Development Alicia Glen, appeared today at the Fashion Institute of Technology (FIT), along with FIT President Joyce Brown, to release a new report on the economic impact of the fashion industry.
WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY) today released the following statement on President Obama’s FY2017 budget:
“President Obama’s 2017 budget is a serious proposal that takes on the big challenges we face in a constructive way. It would support the middle class with new investments in Pell Grants, early childhood education, and job training. It would expand tax credits for working families, increase access to child care, expand paid leave, enact comprehensive immigration reform and make strong investments in infrastructure and research.