Today, Congressman Don Beyer (D-VA), Chair of the U.S. Congress Joint Economic Committee (JEC), released the Democratic response to the 2021 Economic Report of the President (the Report). The JEC is required by law to submit findings and recommendations in response to the Report, which is prepared and released each year by the Council of Economic Advisers (CEA). This year’s report was published by the outgoing Trump administration in January 2021.

Amid a successful vaccination rollout and a strengthening economy, the Joint Economic Committee (JEC) and Chairman Don Beyer (D-VA) are elevating the evidence of economic progress and pushing back strongly against partisan attacks and misinformation. The economy is growing at a pace not seen in 30 years, unemployment is down, last month’s job growth exceeded expectations, and retail sales are above pre-pandemic levels, reflecting pent-up demand as people can safely resume more normal levels of economic activity.

Today, the U.S. Congress Joint Economic Committee (JEC)—led by Chairman Don Beyer (D-VA)—will hold a remote hearing titled “A Second Gilded Age: How Concentrated Corporate Power Undermines Shared Prosperity.” This hearing will examine the rise and concentration of corporate market power in the United States and how it harms consumers, workers and small businesses.

Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 850,000 in June and the unemployment rate remained statistically unchanged at 5.9 percent. The number of people who reported that they weren't looking for work because of COVID fears declined by one million. The unemployment rate was 9.2 percent for Black workers and 7.4 percent for Hispanic workers.