JEC Brief Outlines Economic Benefits of Border Adjustment Reforms for American Consumers and Businesses
The Joint Economic Committee released a brief entitled ‘Border Tax Adjustment Would Curtail Profit Shifting and Provide Other Benefits, With Limited Transition Effects’ which outlines the economic case for moving from a production-based tax to consumption based, while not adding new taxes.
JEC Brief Finds Medicare Advantage Overpayments Causing Increased Premiums for All Seniors
The Joint Economic Committee released its latest issue brief entitled The Part B Premium Pass-Through: Medicare Advantage Overpayments Inflate Premiums for All, which finds that Medicare Part B premiums are higher because Medicare Advantage (MA) is overpaid. Additionally, the JEC released its Medica...
National Debt Reaches $38.86 Trillion, Increased $2.64 Trillion Year over Year, $7.23 Billion Per Day
As of March 4, 2026, total gross national debt is $38.86 trillion. Relative to one year ago, total gross national debt is $2.64 trillion higher; relative to five years ago, it is $10.86 trillion higher. Over the past year, the rate of increase averaged $7.23 billion per day, $301.39 million per hour...
Jobs Drop by 92,000 in February After Good January Report
In February, 92,000 jobs were lost (-86K private sector, -6K government) after a stronger than expected showing in January. The unemployment rate ticked up slightly from 4.3 percent to 4.4 percent while the labor force participation rate dropped by 0.1 percentage points to 62 percent. The broadest m...
ICYMI: Chairman Schweikert Healthcare Innovation Roundtable in Arizona
This weekend, Joint Economic Committee Chairman David Schweikert (AZ-01) convened a healthcare innovation roundtable in Scottsdale to examine how emerging technologies can expand access to care, improve outcomes, and help slow the growth of federal healthcare spending. Participants included Amy Perr...
JEC Chairman Schweikert on SCOTUS Tariffs Ruling, Need for Border Adjustment Tax
Joint Economic Committee Chairman David Schweikert had the following statement in response to today’s SCOTUS ruling. “As our nation’s spending continues to grow, we must be honest about the math... “To bring greater stability and competitiveness to our economy, and address tax arbitrage arising ...
Personal Income Up 0.33% in December, PCE Up 2.90% from Last Year; Economy Cooled in 2025
From November 2025 to December 2025, headline personal consumption expenditures (PCE) price index inflation was 0.36 percent, up from 0.21 percent in November. Core PCE price index inflation, which excludes food and energy prices, was also 0.36 percent, also up from November’s rate of 0.16 percent. ...
Trade Deficit Narrowed Slightly in 2025, Ending the year at $902 Billion down from $904 Billion in 2024
The total trade deficit in 2025 was $901.5 billion, down slightly (0.2%) from the $903.5 billion in 2024. In December, the U.S. ran a total trade deficit of $70.3 billion, up $17.27 billion from the November deficit of $56.8 billion, and is six percent below the 12-month average.
More than $1 Trillion in Debt Already Added this Fiscal Year
“We continue to hit new record highs for our national debt, exacerbating an already economic threat our nation faces,” said Rep. David Schweikert, Chairman of the Joint Economic Committee. “In this fiscal year alone, we have added more than $1 trillion, bringing the total to $38.647 trillion. As we...
Consumer Price Index Inflation Eased, Ends January at 2.39 Percent
The headline Consumer Price Index (CPI-U) eased slightly ending at 2.39 percent year over year in January, ending lower than expected. Core CPI, which excludes food and energy, was 2.50 percent year over year, compared to 2.64 percent in December.