The report, “Real Action is Needed to Give American Workers the Raise They Deserve,” highlights that the real hourly wage for the median worker has only grown less than 0.2 percentage point per year on average since 1979. The Republican tax law does little to solve this problem, with 99.2 percent of the benefits going to the top 5 percent of households once it is fully implemented. Instead of leading to broadly shared wage gains, the tax bill is likely to exacerbate the trends we are already seeing.

Democrats on Congress's Joint Economic Committee launched interactive maps on Monday as part of the party's efforts to make the election-year case against the tax law President Trump signed in December.

Democrats on the Joint Economic Committee, which is comprised of members of the Senate and the House of Representatives, have issued a report detailing a bleak picture of the country’s retirement landscape. Retirement Security in Peril catalogues data from outside sources that will be familiar to industry stakeholders: Half of households near retirement have less than $12,000 in formal retirement savings; large employer sponsorship of defined benefit plans has plummeted over the decades; 30 percent of fulltime workers in the private sector don’t have access to a savings plan through their employers.

A new report by Congressional Joint Economic Committee Democrats warns that American retirement security could be in peril due to slow wage growth, skimpier pension plans, and insufficient access to workplace retirement savings plans. The report, released today, recommends that Congress raise the payroll tax cap (set right now at about $128,000) to fund Social Security, and establish tax credits for startups that offer retirement contribution plans, among other measures. Read it here.