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Joint Economic Committee
Majority Website Chairman Designate - Senator Mike Lee (R-UT)

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Utah as a Case Study in Social Capital

Feb 15 2019

WASHINGTON - Today, the Joint Economic Committee’s Social Capital Project released a brief highlighting the health of social capital in Utah.

Utah has consistently been recognized for its unique and robust community life. But the Social Capital Project has taken this a step further and quantified some of the factors that go into that distinction. The study, titled “The Wealth of Strong Families, Communities, and Congregations: Utah as a Case Study in Social Capital,” also explores the role of religion as an influence on social capital, highlighting distinctive features of the Church of Jesus Christ of Latter-Day Saints that may contribute to the strength of family and community in the stat

Chairman-designate Lee asks CBO and CMS to account for social capital in healthcare cost projections

Jan 29 2019

WASHINGTON – Today, Joint Economic Committee Chairman-designate Mike Lee (R-UT) sent letters to the Congressional Budget Office and the Centers for Medicare and Medicaid Services asking for clarification on whether the agencies take the growing lack of social support among senior citizens into account while formulating their healthcare cost projections for federal and state governments. The letters also ask the agencies to explain their current policy in light of a recent JEC report about declining social support among the elderly.

Chairman Paulsen: Fed Recognizes Economy is on the Right Track

Nov 09 2018

With the economy growing robustly for the first time in a decade, wage growth picking up, and inflation near the Fed’s 2 percent target, the Fed’s decision to hold rates steady seems prudent. I believe that Chairman Powell is on the right track to normalize monetary policy and to enable the full long-term growth effects of tax and regulatory reforms to be realized.

Chairman Paulsen Lauds Wage Gains and Job Creation in October Jobs Report

Nov 02 2018

“Americans’ paychecks are finally breaking through the ceiling of wage growth that’s held for nearly a decade, firmly establishing that our economy’s strong momentum is boosting jobs and especially worker pay. This is an exceptionally good report with 250,000 jobs created, a milestone that reminds us that we must continue to push for pro-growth policies that allow all Americans to receive the raises and opportunities they deserve.”

JEC Chairman Paulsen Lauds Strong 3.5 Percent GDP Growth in Q3 2018

Oct 26 2018

"The announcement of 3.5 percent GDP growth strengthens Americans' confidence under pro-growth policies with faster wage growth and less unemployment," said Paulsen. "Rising business investment shows that the economy will continue to be healthy and strong. Americans have more opportunity and more money in their pockets today than they did two years ago, and that's in large part due to the reforms we've pushed forward."

Chairman Paulsen: A Strong Economy Makes for a More Confident Fed

Sep 26 2018

"The Federal Reserve’s decision today shows its confidence in the continued strengthening of the U.S. economy. After years of subpar performance, the economy finally grew at a 4.2 percent annualized rate last quarter; wages are rising, the unemployment rate is its lowest since 2000; consumer confidence is at its highest since 2000; small business optimism is its highest ever, and inflation remains low and stable. Pro-growth economic policies are working.”

Chairman Paulsen: 1.7 Million New Jobs, Wages Rising at Fastest Rate Since Mid-2009

Sep 07 2018

Joint Economic Committee Chairman Erik Paulsen lauded news of strong job growth and rising wages in the August unemployment report by the Department of Labor:

"Job growth remains strong with solid gains in August, bringing us to nearly 1.7 million new jobs created since tax reform was enacted. Especially encouraging is that wages are rising at their fastest rate since mid-2009. More jobs and higher wages show these pro-growth policies are working and Americans are better off."

Note: The U.S. Department of Labor reported today that the economy added 201,000 jobs in August and the unemployment rate was 3.9 percent. Average hourly private-sector earnings were up 2.9 percent over the previous year. In August, they were up 2.7 percent. The unemployment rate was 3.9 percent, unchanged from July.

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Paulsen: U.S. on stronger economic footing thanks to tax reform

Sep 06 2018

Opening a Joint Economic Committee hearing on the positive growth effects of the recent tax law, Chairman Erik Paulsen, R-Minn., pointed to the mounting evidence that the Tax Cuts and Jobs Act is moving the economy in the right direction. Wages, business investment, and optimism are growing at a fast pace, he argued.