Washington, D.C.—After a vote of the committee members, Senator Martin Heinrich (D-NM) was confirmed today as the Chairman of the U.S. Congress Joint Economic Committee (JEC) for the 118th Congress. Senator Heinrich has previously served as Vice Chair and Ranking Member. He also currently serves on the Senate Appropriations, Energy and Natural Resources, and Intelligence Committees, and as Chairman of the Appropriations Subcommittee on Agriculture, Rural Development, and Food and Drug Administration.
Senator Heinrich issued the following statement:
“Too many people in Washington, D.C. think that if the stock market is going up, the economy is in good shape. But that’s not true for working families in New Mexico or across the country. The way we should measure the success of the economy is if parents can afford to send their kids to college, entrepreneurs can start new businesses, our children are educated and healthy, and workers are able to retire with peace of mind.
“Ensuring that everyone can thrive is the right thing to do – for people and our economy. When more people have the chance to succeed, our entire society benefits.
“I am optimistic about the opportunities ahead to deliver on this measure of economic success. Already this year, we’ve seen inflation come down from its highs last year. Job growth has gone up for the 26th month under President Biden—bringing the total to 12.6 million jobs added. And GDP growth rebounded in the second half of last year. The Inflation Reduction Act is already bringing down the costs of health insurance and prescription drugs and making electric technologies cheaper and more widely available. As we continue our economic recovery, ensuring access to quality education, well-paying jobs, affordable healthcare, and clean energy are essential to our collective prosperity.
“It’s an honor to lead the U.S. Congress Joint Economic Committee, and I’m excited to build on the success of former-Chairman Beyer’s leadership last Congress. I’m looking forward to working alongside my fellow Committee members.”
A full list of committee members is below.
- Senator Martin Heinrich (D-NM) – Chairman
- Senator Amy Klobuchar (D-MN)
- Senator Maggie Hassan (D-NH)
- Senator Mark Kelly (D-AZ)
- Senator John Fetterman (D-PA)
- Senator Peter Welch (D-VT)
- Senator Mike Lee (D-NM)
- Senator Tom Cotton (R-AR)
- Senator J.D. Vance (R-OH)
- Senator Eric Schmitt (R-MO)
- Rep. David Schweikert (R-AZ-01) – Vice Chairman
- Rep. Jodey Arrington (R-TX-19)
- Rep. Ron Estes (R-KS-04)
- Rep. Drew Ferguson (R-GA-03)
- Rep. Lloyd Smucker (R-PA-11)
- Rep. Nicole Malliotakis (R-NY-11)
- Rep. Don Beyer (D-VA-08) – Senior House Democrat
- Rep. David Trone (D-MD-06)
- Rep. Gwen Moore (D-WI-04)
- Rep. Katie Porter (D-CA-47)
About Chairman Martin Heinrich
U.S. Senator Martin Heinrich has served the people of New Mexico in the United States Senate since 2012. In addition to his role as Chairman-Designate of the U.S. Congress Joint Economic Committee, Heinrich also serves as Chairman of the Subcommittee on Agriculture, Rural Development, and Food and Drug Administration on the Senate Appropriations Committee, and as a member of the Senate Energy and Natural Resources Committee and the Senate Select Committee on Intelligence. Prior to his election to the U.S. Senate, Heinrich served two terms in the U.S. House of Representatives, four years as an Albuquerque City Councilor, as New Mexico’s Natural Resources Trustee, and in AmeriCorps with the U.S. Fish and Wildlife Service.
About the U.S. Congress Joint Economic Committee
The U.S. Congress Joint Economic Committee is Congress’s bicameral economic think tank. It was created when Congress passed the Employment Act of 1946. Under this Act, Congress established two advisory panels: the President's Council of Economic Advisers (CEA) and the JEC. Their primary tasks are to review economic conditions and to recommend improvements in economic policy. Chairmanship of the JEC alternates between the Senate and House every Congress.