Opening Statement Vice Chairman Kevin Brady
There is a strong bipartisan consensus in Congress to extend both of these expiring provisions through the end of this year. However, serious differences remain over how we should pay for these expensive extensions and whether we should reform the Unemployment Insurance program.
As popular as the p...
Opening Statement of Vice Chairman Kevin Brady
The labor market is not recovering fast enough considering how depressed it has been. Thirty-one months into the Reagan recovery, we had added 8.7 million new payroll jobs. Today, however, the economy, at best, is at a crawl. We still are 6 million jobs short of the prerecession employment level;...
Hearing Announcement: Bolstering the Economy: Helping Ameri...
A hearing before the Joint Economic Committee will be held on Tuesday, February 7, 2012, at 2:30 p.m., in room 216 of the Hart Senate Office Building.
Weekly Economic Update: January 30- February 3
The economy added 243,000 jobs as the unemployment rate declined to 8.3% in January. Personal income increased 0.5% while personal spending was unchanged in December. The Case-Shiller index was down 1.3% in November. The ISM index increased 1.0 point to 54.1 in January as the ISM services index r...
Payroll Employment up 243,000, Unemployment Rate Drops to 8....
Nonfarm payroll employment jumped by 243,000 during January. This is significantly higher than the consensus estimate of private forecasters who were looking for a gain of roughly 130,000 payroll jobs for the month. Over the past year, total nonfarm payrolls are up by 1.953 million or 1.5%. Priv...
Weekly Economic Update: January 23-27, 2012
GDP grew at a real annual rate of 2.8% in the 4th quarter of 2011. The FOMC held constant its target federal funds rate and stated its intent to keep rates exceptionally low through the end of 2014. Pending home sales declined 3.5% in December as new home sales fell 2.2%. Durable orders were up 3...
States of Bankruptcy
In 2010, employee contributions to state and local pension plans represented 30% of total contributions while taxpayers were responsible for the remaining 70%. Even if the contributions that state and local governments and their employees make to defined-benefit pension plans and the investment inc...
Why Europe Matters: A Stark Warning for the United States
The United States’ and European economies are closely linked and the potential for negative spillover from the European sovereign debt crisis to the United States is of significant concern.
Job Creation Still Too Slow
Payroll Employment grew by a seasonally adjusted 80,000 jobs in the month of October. September job growth was revised up to 158,000 from a previously reported 103,000. Job growth in August was revised up to 104,000 from a previously reported 57,000.
Video: Rep. Kevin Brady's Opening Statement during JEC hearing on February 7, 2012...
Vice Chairman of the Joint Economic Committee, Kevin Brady, presents his opening statment at the JEC hearing: "Bolstering the Economy: Helping American Families by Reauthorizing the Payroll Tax Cut and UI Benefits". He agrees that these provisions need to be extended but they also need to be paid fo...
Video: Senator Lee speaks during Joint Economic Committee Hearing on the Payroll T...
Senator Lee, askes witnesses during the JEC hearing on February 7, 2012, about how the extension of unemployment insurance benefits effects the length of time people are unemployed.
Video: Rep. Kevin Brady questions witnesses at JEC hearing on February 7, 2012
Rep. Keving Brady (R-TX),Vice Chairman of the Joint Economic Committee, expresses the need to extend payroll tax cuts and unemployment benefits for the rest of this year, but they have to be paid for. The payroll tax holiday of 2011 has already put a large hole in the Social Security trust fund. He ...
