Economy
Congresswoman Maloney is committed to making sure the economy works for everyone. Congress must ensure that the middle class and working families share in economic growth. America can strengthen its workforce and economy by investing in infrastructure, education, clean energy, and research and development, as well as promoting stronger workplace protections, more family-friendly leave policies, affordable childcare, a higher minimum wage, and support for small businesses.
Joint Economic Committee
The Joint Economic Committee was established by the Employment Act of 1946, the same legislation that created the President’s Council of Economic Advisers. The committee evaluates current economic conditions and makes economic policy recommendations to Congress. The committee holds hearings to discuss these current conditions and effects of government policy on the economy. It also frequently releases reports on different aspects of the economy, including employment, economic challenges, inequality, the export-import bank, and equal pay.
In the 111th Congress, Congresswoman Maloney was named the first woman Chair of the Joint Economic Committee. She currently serves as Ranking Member, the highest ranking Democrat, on this bicameral Congressional Committee.
For more on the Joint Economic Committee click here.
Select Highlights
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In 2016, Phase I of the Second Avenue Subway will open, thanks to $1.3 billion in federal funds secured by Congresswoman Maloney. The new line will ease congestion on the Lexington Avenue line and provide the East Side with another sorely-needed link to Midtown. Construction of Phase I created 16,000 jobs and paves the way for new residential and commercial development on 2nd Avenue.
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East Side Access, to connect LIRR to Grand Central Station, will help the nearly half of the service’s riders with destinations on the East Side. Congresswoman Maloney helped win over $2.6 billion in federal funding to make this important new link a reality.
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In 2014 Congresswoman Maloney helped secure $670 million in federal funding for the reconstruction of the Kosciuszko Bridge—the largest single project in the history of the NY State Department of Transportation. This project is creating over 14,000 jobs during construction, and will help continue important economic growth in Brooklyn and Queens by upgrading the most-travelled bridge between these two boroughs.
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Decades after the Equal Pay Act, women still earn less than men, even when they hold the same job. That’s why Congresswoman Maloney is leading the push to achieve equal pay. As the first woman to chair the Joint Economic Committee, she’s worked to highlight the important contributions of women to our economy, and to the livelihood of American families. Read about these efforts here.
- As a senior Democrat on the House Financial Services Committee, Congresswoman Maloney is a tireless advocate for American consumers. In 2009, she authored and passed the Credit CARD Act, bringing groundbreaking transparency to credit cards and ending deceptive practices. She has also authored legislation to reign in abusive overdraft fees that cost consumers billions each year. Read more here.
More on Economy
WASHINGTON, DC — Today, Congresswoman Carolyn B. Maloney (D-NY) spoke on the House floor urging all her colleagues to vote in support of H.R. 4346, the CHIPS and Science Act of 2022.
New York, NY - Today, Congresswoman Carolyn B. Maloney (NY-12) was joined by representatives of arts institutions and organizations calling for passage of the Save Our Stages Extension Act.
WASHINGTON, DC – Today, Congresswoman Carolyn B. Maloney (D-NY) announced $6.7 billion from the Bipartisan Infrastructure Law has been allocated to New York in the six months since President Biden signed it into law.
Washington, D.C. – Today, Congresswoman Carolyn B. Maloney (D-NY), sent a letter to House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Charles E. Schumer (D-NY) calling for any future Coronavirus relief package to replenish the Small Business Administration’s COVID-19 Economic Injury Disaster Loan (EIDL) program. About 340,000 small businesses in New York State – and countless more across the country – have benefited from the EIDL program.
WASHINGTON, DC — Today, Congresswoman Carolyn B. Maloney (D-NY) announced that the Metropolitan Transportation Authority (MTA) will receive an additional $769,197,265 through the American Rescue Plan (ARP) Additional Assistance program funding, which is determined by operational need.
WASHINGTON, DC – Today, Congresswoman Carolyn B. Maloney (D-NY) released a preliminary report on the American Rescue Plan’s State and Local Fiscal Recovery Funds impact in New York City and State. One year after passage of the American Rescue Plan, State and Local Fiscal Recovery Funds have contributed to record GDP growth, historically low unemployment, and healthier communities, making the difference between recession and recovery.
New York, NY - Today, Congresswoman Maloney (NY-12) joined Council Member Julie Menin, Chair of the Council Small Business Committee, Small Business Commissioner Kevin D. Kim, and CB8 Small Business Committee Co-Chair Valerie Mason to tour small businesses on Manhattan's East Side and listen to their concerns about rebuilding from the COVID-19 crisis.
WASHINGTON, DC — Today, Congresswoman Carolyn B. Maloney (D-NY) released the following statement after House passage of H.R. 4521, the America COMPETES Act of 2022.
When Rachel Rothenberg-Saenz, former director of product development at Oscar de la Renta, was furloughed in the spring of 2020, she heeded Gov. Andrew Cuomo’s call to help with the shortage of personal protective equipment.
“We pivoted and called everyone we knew from years in the industry,” Rothenberg-Saenz said.
With most COVID-19 restrictions now lifted in New York City, the city's economy is now “turning the corner” as businesses reopen to full capacity amid a boom in new business applications. This is attributable to the fact that people are getting vaccinated, Congresswoman Carolyn Maloney, who represents New York’s 12th congressional district, told Yahoo Finance Live.