In response to the President’s threat to close the border between the United States and Mexico, today JEC Vice Chair Carolyn Maloney released a report on the economic harm that would be caused by shutting down the US-Mexico border.
As with the President’s trade war with China, an abrupt halt to commerce at the Mexican border would cause substantial harm to both countries. In the United States, a closure would disrupt supply chains, drive up consumer prices and lower business profits. One study found that completely stopping trade with Mexico could cost five million Americans their jobs in the long run.
Check out the facts about the U.S.-Mexico border that highlight how a border shutdown would hurt American workers, consumers and businesses, and threaten the overall economy.
In the last 40 years, income inequality in the United States has gotten worse – and yet, we don’t have all the data we need to know exactly who is benefiting from our country’s economic growth.
JEC Vice Chair Carolyn Maloney (D-NY), along with Senate Democratic Leader Chuck Schumer (D-NY) and JEC member Martin Heinrich (D-NM) have sent a letter to the Bureau of Economic Analysis (BEA) urging it to report on how personal income is growing by decile, so we can see just who’s benefiting from this increased growth.
Read their full letter here: https://www.jec.senate.gov/public/index.cfm/democrats/press-releases?ID=50378C43-5F8F-4B82-AFE6-0DEC6C1833DB”
Democrats & Republicans can agree on something: We need more detailed data in order to understand how the #economy is working (or not working) for Americans at all income levels. Congress should pass Senator Chuck Schumer & Senator Martin Heinrich's Measuring Real Income Growth Act.
Dr. Heather Boushey is the Executive Director and Chief Economist at the Washington Center for Equitable Growth. She testified at the JEC hearing entitled "Examining the Rise of American Earnings and Living Standards" on Sept. 26, 2018.
U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at JEC hearing entitled “Examining the Rise of American Earnings and Living Standards” on Sept. 26, 2018.
For too many families who are struggling financially, the American Dream seems out of reach. When families cannot make ends meet, children grow up without the resources they need to thrive later in life. Federal investments addressing child poverty set future generations up for success and fuel a strong, vibrant economy. Read the full report at http://bit.ly/2x3Mm5p
The Republican tax bill increased our national debt by about $1.9 trillion, in the form of costly breaks for corporations and the wealthy. How do Republicans plan on paying for this? By cutting the benefits Americans depend on the most. Ranking Member Sen. Martin Heinrich questioned Republican witnesses about this during a recent JEC hearing.
Dr. Ben Harris is a Visiting Associate Professor at Northwestern University’s Kellogg School of Management and former chief economist for Vice President Biden. In his testimony, he points out that the Republican tax bill is poorly designed to increase investment and does little for workers.
U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at the JEC hearing entitled “The Positive Economic Growth Effects of the Tax Cuts and Jobs Act" on Sept. 6, 2018.
U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at JEC hearing entitled “The Innovation Economy, Entrepreneurship, and Barriers to Capital Access” on Jul. 25, 2018. In his remarks, Senator Heinrich highlighted the recent Joint Economic Committee Democrats report, “Investing in Rural America,” that emphasizes that tribal and rural communities often struggle to reach mainstream financial institutions, and need federal resources to successfully secure capital and technical assistance.
Rural Americans make up 14 percent of those living in the United States, while 72 percent of the nation’s total land areas are considered rural. These 46 million residents play an essential role in the overall economy, starting new businesses, and supplying many of our agricultural products.