Democrats on the Joint Economic Committee, which is comprised of members of the Senate and the House of Representatives, have issued a report detailing a bleak picture of the country’s retirement landscape. Retirement Security in Peril catalogues data from outside sources that will be familiar to industry stakeholders: Half of households near retirement have less than $12,000 in formal retirement savings; large employer sponsorship of defined benefit plans has plummeted over the decades; 30 percent of fulltime workers in the private sector don’t have access to a savings plan through their employers.
A new report by Congressional Joint Economic Committee Democrats warns that American retirement security could be in peril due to slow wage growth, skimpier pension plans, and insufficient access to workplace retirement savings plans. The report, released today, recommends that Congress raise the payroll tax cap (set right now at about $128,000) to fund Social Security, and establish tax credits for startups that offer retirement contribution plans, among other measures. Read it here.
Congress has to do a lot more to improve retirement security, said a report issued Wednesday by Democrats on the congressional Joint Economic Committee. In the report, Retirement Security in Peril, the members call for modernizing Social Security and by raising the payroll tax cap and expanding benefits for some people, expanding access to defined contribution plans by allowing more open multiple employer plans and offering start-up credits for small businesses to help motivate them to offer retirement plans, among other steps.
The volume of commerce entering the country has more than tripled in the past 25 years, which has led to an increased flow of commercial traffic through ports of entry, according to the U.S. Congressional Joint Economic Committee.
Feb 08 2018
Public News Service - Bill Would Bump Up State Tax Credit to Help Families Pay for Child Care
Wood pointed to a recent report by Congress' Joint Economic Committee showing that improved access to affordable child care would lead to more women entering and staying in the workforce. And it could increase the national GDP by as much as $600 million annually. She added that access to high-quality early learning leads to improved health outcomes for children, and better wages as adults.
Child care costs in Colorado today are among the nation’s highest. A 2017 Democratic staff report from the U.S. Congress Joint Economic Committee found that typical infant care costs in the state — $14,950 a year — eat up nearly 19.5 percent of Colorado’s median family income — the third-most in the country, behind only California and New York.
Also, as a report by the Democratic staff of the Joint Economic Committee argued, relying on private investment is risky and can cost more than direct taxpayer funding, since investors expect a healthy return. In the past, some public-private partnerships have been poorly negotiated and shut out competition that would have resulted in better pricing and improved public services, the report said.
Feb 02 2018
The Cullman Tribune – Opioids in Alabama
According to information from the U.S. Congressional Joint Economic Committee, Alabama saw a more than six-fold increase in opioid overdose deaths between 1999 and 2015 (the most recent year for which complete records are available), rising from fewer than one death per 100,000 population to just over six per 100,000. According to the Centers for Disease Control and Prevention (CDC), Alabama leads the nation in opioid prescriptions and opioid over-prescription.
Jan 29 2018
Transportation Today - Congressional report details growing economic impact of U.S. freight rail system
Democratic lawmakers on the Joint Economic Committee made the case for investment in border infrastructure to support the nation’s rail system at 30 rail ports of entry in a new report that cited the growing economic impact of U.S. freight railroads. The volume of commerce crossing into the United States is expected to increase 41 percent by 2040, growth that will put stress on rail points of entry, according to the report that comes as Congress gears up to discuss border policies in the coming months.
Democratic commissioners Jessica Rosenworcel and Mignon L. Clyburn welcomed the decision not to change the definition of broadband, but rejected the conclusion that that broadband is being "reasonably and timely deployed." "This is especially tragic when according to the Senate Joint Economic Committee, there are twelve million kids that are caught in the Homework Gap because they lack Internet service at home," Rosenworcel said in a statement. "We should be reaching for faster speeds and universal access. Anything less than that, shortchanges our children and our future."