Feb 19 2021
The Committee was created on February 20, 1946.
Washington, DC—On February, 20, 1946, President Harry S. Truman signed the Employment Act of 1946, which, among other things, created two sister organizations—the U.S. Congress Joint Economic Committee (JEC), which analyzes economic conditions and advises Congress on economic policy, and the Council of Economic Advisers, which does the same for the White House.
Today, Congressman Don Beyer (D-VA) released the following statement in honor of JEC’s 75th anniversary:
“Seventy-five years ago this Saturday, President Harry S. Truman signed the Employment Act of 1946 into law, which established the Joint Economic Committee. Congress passed this legislation, which also created the Council of Economic Advisers, to address massive fluctuations in national employment rates as the nation demobilized following World War II with the Great Depression still very fresh in the national consciousness.
“Congress intended the Joint Economic Committee to play a major role in shaping U.S. economic policy, which it has, thanks in large part to the brilliant economists who have staffed it over the years. Today, once again, its role as a think tank for Congress amid a historic economic crisis is as essential as it has ever been. Millions are out of work, wondering how they are going to keep a roof over their heads and food on the table—and policymakers looking to alleviate their suffering should once again avail themselves of the counsel of the best economic minds in the country.
“From the beginning of the pandemic, I have held weekly conversations to bring together Members of Congress and the leading economists in the nation. We have heard again and again that the danger is not doing too much, it is doing too little. I look forward to working with my colleagues on the Joint Economic Committee to ensure that Congress does as much as possible to get our economy back on track. Anything less would be a disservice to the American people, as well as the legacy of this committee.”