Skip to main content

Joint Economic Committee Democrats

Reports & Issue Briefs

Dec 19 2018

The National Cannabis Economy

The legalization of cannabis has significant implications for state economies, as well as the national economy. The industry totaled more than $8 billion in sales in 2017, with sales estimated to reach $11 billion this year and $23 billion by 2022. There were more than 9,000 active licenses for cannabis businesses in the U.S. in 2017, with the industry employing more than 120,000 people.

Dec 11 2018

Unlocking Millennial Homeownership

For millions of Americans, the promise of owning a home remains a cornerstone of the American Dream. Homeownership provides an avenue for accumulating wealth, promotes financial security, and plays a critical role in the development of family and community life. Yet, nearly a decade since the Great Recession ended, owning a home remains out of reach for many millennials (defined as those roughly between the ages of 22 and 37).

Dec 03 2018

November Economic Snapshot of the States

Although the U.S. economy overall continues its expansion following the Great Recession and associated financial crisis, the recovery can look very different from state to state. The lion’s share of economic gains are not only concentrated at the top of the income and wealth distribution, but also in a small share of regions. While some parts of the country have surged ahead, millions of Americans in urban and rural communities are still waiting for their wages to start rising again and struggling to make ends meet.

Nov 29 2018

Failing to Address Climate Change Threatens the Economy

Joint Economic Committee Democrats today released a report that outlines the threat of climate change to the economy following the recent National Climate Assessment report. The report states that the increase in frequency and severity of extreme weather events continue to place the American economy at risk by threatening household wealth and property and upending insurance markets. The Federal Reserve Bank of Richmond projects that climate change could reduce annual economic growth in the United States by one-third over the next century. The report calls for immediate action to mitigate the economic damages of climate change.

Oct 29 2018

October Economic Snapshot of the States

Although the U.S. economy overall continues its expansion following the Great Recession and associated financial crisis, the recovery can look very different from state to state. The lion’s share of economic gains are not only concentrated at the top of the income and wealth distribution, but also in a small share of regions. While some parts of the country have surged ahead, millions of Americans in urban and rural communities are still waiting for their wages to start rising again and struggling to make ends meet.

Oct 19 2018

GOP Tax Law Risks Shipping American Jobs Overseas

More than 15.4 million Americans have jobs that are vulnerable to offshoring and work in industries with a track record of moving production to foreign countries. Rather than passing policies that protect these workers and their families, President Trump and Congressional Republicans created a law that actually encourages companies to move factories and jobs out of the United States and into foreign countries in order to take advantage of new tax breaks.

Oct 17 2018

Families & Seniors Foot the Bill for GOP Tax Cuts

The Trump and Bush-era tax cuts are projected to give a $2 trillion break for the wealthiest 1 percent by 2025. Meanwhile, Republicans have proposed $2 trillion in cuts to Medicare, Medicaid, Social Security, and the ACA between 2019-2028. The average beneficiary of these programs stands to lose an average of $1,500 per year in services or tax credits. This would translate to 3.6 weeks of unpaid work for a retail sales person earning $23,000—the most common job in America. The average household would lose over $3,000 in services and tax credits per year.

Sep 28 2018

Renewables are Competing and Winning in Electricity Markets

Renewable energy is rapidly gaining market share in America’s electricity markets. In 2017, renewable energy sources were used to produce nearly one-fifth (17 percent) of the electricity generated in the United States. This is almost twice the market share renewables had in 2008 (9 percent). And this is just the start, as renewables are projected to continue to grow and take market share from more traditional energy sources.