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Joint Economic Committee Democrats

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Mar 28 2018

KRWG - JEC Dems Report: Real Action Is Needed to Give American Workers the Raise They Deserve

The report, “Real Action is Needed to Give American Workers the Raise They Deserve,” highlights that the real hourly wage for the median worker has only grown less than 0.2 percentage point per year on average since 1979. The Republican tax law does little to solve this problem, with 99.2 percent of the benefits going to the top 5 percent of households once it is fully implemented. Instead of leading to broadly shared wage gains, the tax bill is likely to exacerbate the trends we are already seeing.

Mar 28 2018

JEC Dems Report: Real Action Is Needed to Give American Workers the Raise They Deserve

Joint Economic Committee Democrats released a report today that outlines the need to take action and raise wages for American workers. Most American workers have not benefited from the economic growth of the last several decades—wages for the average worker have barely grown for nearly 40 years, while wages for the highest earners have grown substantially. The GOP tax law fails to address these issues, according to the new report, despite claims from Congressional Republicans and the Trump administration.

Mar 19 2018

JEC Dems Launch New Interactive Data Visualization Tool

Joint Economic Committee Democrats today announced the launch of their first interactive map which will allow users to understand critical data and policy issues through visual formats on JEC’s website. This first interactive data set details how many years of a typical American family’s bills could be supported by the $193,000 one member of the top 0.1 percent will receive from the Republican tax law. It shows how many years it could support their household income, health care premiums, child care costs, and electric bills by state.

Mar 09 2018

Heinrich Statement on February Jobs Report

The modest wage growth in February shows that Republicans are failing to deliver on the promise to American families that they touted in their tax bill. Working families are still waiting for the wage growth they deserve – and were promised. The average worker’s wages have grown less than 5 percent over the last 35 years, after adjusting for inflation. We have to take real steps to make sure families see economic gains—and the Republican tax scam simply doesn’t cut it.

Mar 07 2018

Heinrich Opening Statement at JEC Hearing on the Economic Report of the President

U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at today’s hearing on the Economic Report of the President (ERP) with Council of Economic Advisers (CEA) Chairman Kevin Hassett. In his remarks, Heinrich debunked the false notion that the Republican tax bill is aimed at helping workers, and emphasized that it will mostly benefit the wealthy and large corporations. He also highlighted the economic challenges that the administration has yet to address.

Feb 16 2018

KWRG - JEC Dems Report: Retirement Security in Peril

Joint Economic Committee Democrats released today a report on the state of retirement in America. American workers are facing a crisis, the inability to retire with dignity after a life of hard work. Half of all American families near retirement have $12,000 or less in formal retirement savings. Congress should now focus on policies that broaden access to low cost, high-yield retirement savings options, strengthen Social Security, secure pension plans, and restore access to a stable and adequate retirement for an aging population.

Feb 15 2018

Benefits Pro - Dems on Joint Economic Committee highlight retirement policy shortfalls

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.

Feb 14 2018

Politico Morning Shift - DEM REPORT: RETIREMENT SECURITY IN PERIL

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.