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Joint Economic Committee Democrats Chairman - Senator Martin Heinrich (D-NM)

From the News

Oct 23 2018

NBC News - Democrats find new ways to talk about entitlement cuts in campaign's closing days

Democrats on the congressional Joint Economic Committee issued the study, based on calculations by the non-profit Institute on Taxation and Economic Policy, late last week. It shows that the estimated $2 trillion cost of the Bush and Trump-era tax cuts through 2025 is the same amount which Republicans have proposed cutting from Medicare, Medicaid, Social Security and Obamacare.

Oct 19 2018

Salon - Sen. Martin Heinrich tells Salon Trump’s tax cuts may help companies offshore jobs

Beyond not paying for themselves, President Donald Trump's tax cuts now threaten to undermine one of his key campaign promises. A new report by the Democrats on the Joint Economic Committee in Congress reveals that by reducing the tax liability incurred by corporations, even when they move operations and jobs overseas, Trump's tax cuts could further endanger the jobs of the 15.4 million Americans who are vulnerable to offshoring.

Oct 18 2018

Mother Jones - Democrats in Congress Are Going After the GOP for Trying to Cut Entitlements

A new report released Wednesday by the Democratic Joint Economic Committee analyzing the budget resolution that House Republicans proposed earlier this summer shows that proposed cuts to Medicaid, Social Security, and the Affordable Care Act could result in significant income losses to 40 percent of Americans. According to the report, the average beneficiary would lose an average of $1,500 per year in services or tax credits, with that number doubling to $3,000 for the average household.

Oct 18 2018

Politico Pulse - Medicare Advantage plans proliferate

Democrats on the Joint Economic Committee are releasing a new report Wednesday calculating the impact of the GOP tax bill on the national debt and warning that Republicans may attempt deep cuts to Medicare, Medicaid, Social Security and the Affordable Care Act’s market subsidies to plug the hole. A copy of the report was shared with POLITICO’s Alice Miranda Ollstein. Citing House Republicans’ 2019 budget resolution, which slashes hundreds of billions of dollars from social safety net programs over a decade, the JEC report estimates that each of the 130 million people who depend on those programs would lose an average of $1,500 per year in services and tax credits should the cuts take effect. The report breaks down the potential impact by state, finding that West Virginia, New Mexico and Arkansas would be among the hardest hit.

Oct 17 2018

Fast Company - Can AI make the gender gap at work disappear?

Here’s what we know: Equality in the workplace (that includes equal pay and equal representation at all levels of organizations) could add between $2.1 trillion and $4.3 trillion to the U.S.’s GDP in the next decade. But estimates from the U.S. Congress Joint Economic Committee suggest that it’s going to take over 40 years to get there.

Oct 12 2018

The Hill - Dems punch back on GOP's economic messaging

Real wages, for example, have fallen 2.2 percent in Pennsylvania in the months since Trump took office, the Democrats found, citing research by the Joint Economic Committee, while more than 1 million state taxpayers will receive no benefit — or face a tax increase — over the first two years of the Republicans’ tax overhaul.

Sep 21 2018

CT News Junkie - DeLauro Says GOP Tax Cuts Imperil Jobs

DeLauro requested a report on the effects of the Republican Tax Plan from the Democratic staff of the Joint Economic Committee in Congress. The six-page report focuses on changes made in tax policy that the Democrats claim would encourage companies to move factories and jobs overseas, where corporate profits are taxed at lower rates. The report claims about 199,200 Connecticut residents — including 75,200 in manufacturing jobs — are at risk of seeing their jobs moved overseas due to the tax changes, based on Department of Labor data on industries that have a track record of moving production to foreign countries. Another 22,700 jobs at risk are in the insurance industry, which has moved operations overseas 66 times in the last five years.

Sep 20 2018

Politico Morning Energy - Democrats eye Zinke investigations

The Democrats on the Joint Economic Committee are out with a report today arguing that federal support for rebuilding the Puerto Rican electric grid is crucial to getting the island’s economy humming again. Failing to ensure reliable electricity will further harm the ability to attract businesses to Puerto Rico and could fuel ongoing population emigration. Given the high cost of fossil fuels on the island, accelerating the transition to renewable energies could also help promote economic growth, the report adds. “We must focus on supporting local efforts to rebuild the power grid and other important infrastructure so it is resilient against future disasters and helps jump-start economic recovery on the island,” Sen. Martin Heinrich, ranking member on the committee, said in a statement.

Aug 30 2018

NY Times - Paul Krugman: For Whom the Economy Grows

Quite a lot, suggest Senators Chuck Schumer and Martin Heinrich. This week they introduced a bill that would direct the Bureau of Economic Analysis, which produces estimates of gross domestic product, to produce estimates telling us who benefits from growth — for example, how much is going to the middle class. This is a really good idea.

Aug 28 2018

Politicus USA - Senate Democrats Introduce Bill That Pops Trump’s Economic Propaganda Bubble

As Sen. Heinrich said, “Instead of focusing on one economic indicator closely watched by investors, we should be examining data that captures why many families are still struggling to make ends meet. Only looking at headline GDP growth numbers to assess the state of our economy simply does not paint the whole picture, and leaves out the reality that many Americans have not seen their wages rise for years. Our priority should be ensuring that every New Mexican – and every American – can succeed in today’s economy. This legislation would provide Congress with the information to take real steps needed to finally address income inequality and the economic needs of all Americans.”