WASHINGTON—Congresswoman Carolyn B. Maloney (NY-12) has been elected Vice Chair of the U.S. Congress Joint Economic Committee (JEC) by the committee’s members.

“I am honored to be chosen by my colleagues to serve as Vice Chair of the Joint Economic Committee,” Maloney said. “There are major economic challenges facing our country – from growing inequality to wages that for some have barely moved in decades to infrastructure that has been neglected.  I look forward to shining the JEC’s spotlight on these and other issues so Congress can craft solutions that help middle class families and lay the foundation for future economic growth.”

Speaker Nancy Pelosi recommended Maloney for the post earlier this year. Today, the recommendation was confirmed by a majority vote of members of the committee. Previously, Maloney served as Chair of the JEC in the 111th Congress—the first woman to do so—and as Ranking Member in the 114th Congress. 

During the 114th Congress, Maloney spearheaded a report on gender pay inequality and its consequences for women, families and the economy. The report examined the factors that contribute to the gender pay gap, outlined how the pay gap contributes to income inequality and retirement insecurity and highlighted family-friendly workplace policies that would shrink the pay gap.

Under Chair Maloney in 2009-2010, the JEC closely monitored the employment situation and tracked its rebound from the Great Recession. The committee held close to 50 hearings and issued dozens of reports with an emphasis on creating jobs and reducing unemployment.

Rep. Maloney has a strong legislative record on economic and financial issues. Her Credit CARD Act, signed by President Obama in 2009, has been estimated to have saved consumers approximately $16 billion between 2011 and 2014. She also is the author of the Measuring Real Income Growth Act of 2019 (H.R. 707), which instructs the Bureau of Economic Analysis to provide distributional analyses of the Gross Domestic Product.

The JEC is a joint House-Senate committee that holds hearings and issues reports to help inform Congress’ actions on economic issues. Senator Mike Lee (R-UT) will serve as the Chairman of the committee in the 116th Congress. Senator Lee and Representative Maloney will be joined by nine Republican and nine Democratic members.

Democratic members are Sen. Martin Heinrich (D-NM), Sen. Amy Klobuchar (D-MN), Sen. Gary Peters (D-MI), Sen. Maggie Hassan (D-NH), Rep. Carolyn Maloney (D-NY), Rep. Don Beyer (D-VA), Rep. Denny Heck (D-WA), Rep. David Trone (D-MD), Rep. Joyce Beatty (D-OH) and Rep. Lois Frankel (D-FL).

Republican members are Sen. Mike Lee (R-UT), Sen. Tom Cotton (R-AR), Sen. Ben Sasse (R-NE), Sen. Rob Portman (R-OH), Sen. Bill Cassidy (R-LA), Sen. Ted Cruz (R-TX), Rep. David Schweikert (R-AZ), Rep. Darin LaHood (R-IL), Rep. Kenny Marchant (R-TX) and Rep. Jaime Herrera Beutler (R-WA). 

 

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WASHINGTON—Congresswoman Carolyn B. Maloney (NY-12), Vice Chair Designate of the Joint Economic Committee, released the following statement after the Federal Reserve’s Federal Open Market Committee (FOMC) completed its March meeting and reported that the median 2019 growth projection from the committee has fallen to 2.1 percent.

“The Federal Reserve’s GDP growth projection is more proof that the White House’s numbers in its latest budget are wildly optimistic. Fed projections show that the sugar high from the GOP tax cuts is rapidly wearing off, and growth will slow this year and next. This forecast aligns with those from the Congressional Budget Office and independent, private sector analysts. It is yet another reason to dismiss the partisan projections in the president’s budget.

“Instead of tax cuts for special interests and giant corporations, American families would have been better off if that money had been spent on investments that actually grow the economy in the long run, like infrastructure, research and education. House Democrats’ For the People agenda will do exactly that.

WASHINGTON, DC—Congresswoman Carolyn B. Maloney (NY-12), Vice Chair Designate of the Joint Economic Committee, today released her Views and Estimates of the budget, which analyzes budget issues from a macroeconomic perspective. This follows the release of the president’s FY 2020 budget.

“The president’s budget is an economic ticking time bomb. Economic growth depends on making smart investments and smart projections about the future. This budget does neither. Instead, the president’s budget includes deep cuts to critical domestic investments, including Medicare, Medicaid, education and research, while at the same time making wildly optimistic projections about future growth. If this budget were ever to become law, it will knock our country’s economy off track, possibly into recession, and cause severe pain for families all across the nation.

“In order to continue the economic expansion that began under President Obama, we must make wise investments in our nation’s future. That means creating the infrastructure backbone for the economy of the future, educating our workforce, laying the groundwork for new technologies and fighting to mitigate the likely catastrophic effects of climate change. These are smart investments that will grow the economy and improve the quality of life for future generations. The president’s slash and burn budget will do the opposite, and Congress must reject it.”

WASHINGTON—Congresswoman Carolyn B. Maloney (NY-12), Vice Chair Designate of the Joint Economic Committee, issued the following statement Friday after the Department of Labor announced 20,000 jobs were added in February. Her statement followed her introduction of legislation this week that could support long-term job growth.

“We’ve now had a record 101 straight months of job growth. During that time, the economy has added more than 20 million jobs. Again this month, wages moved higher. This is a strong labor market that is rewarding workers with stronger wage growth.

“Even with the labor market strengthening over the past decade, income inequality persists and labor force participation rates have not returned to earlier highs. For example, the share of prime-age women, aged 25-54, working or seeking work remains 1.4 percentage points below the peak reached in 2000.  Male participation rates also lag previous highs. 

“Passing family leave policies that allow workers to take paid leave after the birth or adoption of a child or to care for a family member with a serious health condition can boost participation rates, lower turnover and lead to higher incomes. There are positive impacts on productivity and economic growth. By using policy tools to help workers balance the demands of work and family, we can strengthen families and our economy.”

Earlier this week, Congresswoman Maloney introduced the Federal Employee Paid Leave Act (FEPLA) that would provide 12 weeks of paid family leave for federal workers.  FEPLA would guarantee paid leave for all instances covered by the Family and Medical Leave Act, which currently guarantees only unpaid leave. 

 

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