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

Press Center

Aug 28 2018

Schumer, Heinrich Introduce Legislation to Require New Income Growth Data Alongside Quarterly GDP Reports

Today, Senate Democratic Leader Chuck Schumer (D-N.Y.) and U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, introduced the Measuring Real Income Growth Act of 2018, which would require the Bureau of Economic Analysis (BEA) to report how economic growth is distributed across the income spectrum. This data would help to put quarterly GDP growth numbers in context, as it would provide a breakdown of the economic benefits seen by individuals across different segments of the economy. In short, this bill would provide policymakers with metrics that better reflect the economic experiences of all Americans, not just top income earners.

Aug 23 2018

JEC Democrats Podcast Episode 7: Examining What’s at Stake With the CFPB

Today, Joint Economic Committee Democrats launched the seventh episode of “Opportunity Agenda,” a podcast that furthers the conversation on how to build an economic future where all American families have a fair shot at getting ahead. Episode 7, “Examining What’s at Stake With the CFPB,” looks at the actions that the Trump administration have taken at the Consumer Financial Protection Bureau (CFPB) that are harming consumers, instead of protecting them as the agency is charged to do. The podcast comes ahead of today’s Senate Committee on Banking, Housing, and Urban Affairs hearing on the president’s nominee for CFPB director, Kathy Kraninger.

Aug 07 2018

Bloomberg - Republican Pitch on Robust Economy a Hard Sell in Regions Left Behind "

"People always ask, ‘Are we better off than we were two years ago?’ And the answer is yes."… "When I talk to people, they say they are not feeling the economic prosperity," said Senator Martin Heinrich of New Mexico, the top Democrat on the Joint Economic Committee. “Americans are not seeing the wage growth that they were promised from the tax cuts."

Aug 03 2018

Newsweek - Trump’s Tax Plan is Failing to Give American Workers the Wage Growth he Promised

Friday’s jobs report showed unemployment at 3.9 percent, an 18-year low. But even with historic lows, workers' pay has only increased by 2.7 percent since last year. With inflation hovering around 2 percent, that’s an adjusted 0.7 percent growth in earnings. A wage earner would have to bring in more than $570,000 to see that promised $4,000 increase in pay. Instead, the average worker is seeing a weekly pay raise of just $16.42. “This jobs report provides the latest evidence that the Republican tax law has done little to raise real wages in this country,” said Senator Martin Heinrich, ranking member of the Joint Economic Committee, in a statement.

Aug 03 2018

News 12 Connecticut - Rep. DeLauro holds press conference on Republican Tax Law

Rep. Rosa DeLauro held a press conference Thursday to release a report outlining the effects of the Republican Tax Law. The report was prepared by the Democratic staff of the Joint Economic Committee. She used the report to highlight how the law is impacting Connecticut's working families and seniors. It details how the $2 trillion in tax cuts for millionaires, billionaires, and corporations come at the expense of Republican budget cuts to programs including Medicare, Medicaid, social security and the Affordable Care Act.

Aug 03 2018

Heinrich Statement on July Jobs Report

“We need to focus on why American families are struggling to get ahead and address those needs. Connecting communities to broadband, making post-secondary education more accessible and affordable, and ensuring that everyone has access to high-quality health care. That’s what we should be focused on. Instead of handing out additional tax cuts to those who need it the least, let’s get to work to address the real needs of American families across the country.”

Jul 27 2018

JEC Dems Release Report in Response to GDP Numbers

Joint Economic Committee Democrats today issued a report in response to this morning’s release of the second-quarter gross domestic product (GDP) estimates by the U.S. Department of Commerce. The new JEC report details that large gains for a small group can keep total income growing, while many Americans continue to see their incomes shrink. The report also emphasizes that while GDP is an important indicator, it doesn’t show the entire country’s economic picture, and that the Republican tax plan does in fact benefit the wealthy while leaving working Americans behind.

Jul 27 2018

JEC Dems Report on Medicare: Protecting Seniors and Families

Ahead of the 53rd anniversary of Medicare being signed into law on July 30, 1965, Joint Economic Committee Democrats released a report today that highlights the importance of Medicare to its beneficiaries, their families, and the economy in light of ongoing Republican attacks to cut the program. The report emphasizes that Congress should act to protect and strengthen Medicare, not undermine the program’s long history of success.

Jul 25 2018

Heinrich Opening Statement at JEC Hearing on Access to Capital

U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at today’s hearing entitled “The Innovation Economy, Entrepreneurship, and Barriers to Capital Access.” In his remarks, Senator Heinrich highlighted the recent Joint Economic Committee Democrats report, “Investing in Rural America,” that emphasizes that tribal and rural communities often struggle to reach mainstream financial institutions, and need federal resources to successfully secure capital and technical assistance.