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
WASHINGTON, D.C. – U.S. Rep. Carolyn Maloney (D-NY), today applauded the approval by the U.S. Department of the Treasury of New York State’s Small Business Credit Initiative (SSBCI). The SSBCI program supports state-level lending to small businesses under the Small Business Jobs Act signed into law by President Obama last year.
Statement of Rep. Carolyn Maloney on President Obama’s Upcoming Address to Congress.
New York, NY – U.S. Rep. Carolyn Maloney (D-NY) issued the following statement on the decision by Standard and Poor’s (S&P) to downgrade America’s credit rating.
NEW YORK, NY - Today Congresswoman Carolyn Maloney (D-Manhattan, Queens) issued the following statement after President Obama signed into law an agreement on a short-term extension of the Federal Aviation Administration (FAA) that will enable the agency to end its partial shutdown and allow more than 70,000 Americans to return to work.
“Today’s announcement that 117,000 jobs were added to the economy in July was better than expected – but our current unemployment rate is a sobering reminder of just how fragile our economic recovery continues to be.
WASHINGTON, DC-- Rep. Carolyn B. Maloney issued the following statement after voting "no" on S. 365, the bill which would raise the debt ceiling and make massive cuts over ten years to the federal budget.
NEW YORK, NY – Following last night’s televised statements by President Barack Obama and House Speaker John Boehner (R-OH), Congresswoman Carolyn Maloney (D-Manhattan, Queens) released the following statement on extending the national debt ceiling, which the U.S. Treasury Department has said is set to be reached on August 2, 2011.
“The numbers show the barest possible job growth in the month of June. There’s no way to sugar-coat it-- it will clearly take more work to fully restore the economy.
“Yet since Republicans regained the House majority, they haven’t offered a plan to create jobs—let alone pass a single direct job-creation bill. They seem far more focused on delaying financial reforms meant to prevent another crisis, preserving corporate tax breaks and ending Medicare as we know it while protecting the highest-income Americans from paying their fair share. It’s a recipe that should give middle class Americans pause.”
WASHINGTON, DC – Congresswoman Carolyn Maloney (D-NY) issued the following statement today the release of new Labor Department data indicating that the U.S. economy added 54,000 jobs in May, with unemployment climbing to 9.1 percent.
“Today’s announcement of 216,000 private sector jobs created in March and a drop in the unemployment rate from 8.9 to 8.8 percent—and a full point drop in just the last four months--marks the rise of employment for the 13th straight month. So after two years of hard work on the part of the administration and Democrats in Congress, our efforts are bearing fruit, slowly but surely.