Joint Economic Committee Democrats today announced the launch of their first interactive map which will allow users to understand critical data and policy issues through visual formats on JEC’s website. This first interactive data set details how many years of a typical American family’s bills could be supported by the $193,000 one member of the top 0.1 percent will receive from the Republican tax law. It shows how many years it could support their household income, health care premiums, child care costs, and electric bills by state.
Mar 09 2018
Heinrich Statement on February Jobs Report
The modest wage growth in February shows that Republicans are failing to deliver on the promise to American families that they touted in their tax bill. Working families are still waiting for the wage growth they deserve – and were promised. The average worker’s wages have grown less than 5 percent over the last 35 years, after adjusting for inflation. We have to take real steps to make sure families see economic gains—and the Republican tax scam simply doesn’t cut it.
U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, delivered the following statement at today’s hearing on the Economic Report of the President (ERP) with Council of Economic Advisers (CEA) Chairman Kevin Hassett. In his remarks, Heinrich debunked the false notion that the Republican tax bill is aimed at helping workers, and emphasized that it will mostly benefit the wealthy and large corporations. He also highlighted the economic challenges that the administration has yet to address.
Joint Economic Committee Democrats released today a report on the state of retirement in America. American workers are facing a crisis, the inability to retire with dignity after a life of hard work. Half of all American families near retirement have $12,000 or less in formal retirement savings. Congress should now focus on policies that broaden access to low cost, high-yield retirement savings options, strengthen Social Security, secure pension plans, and restore access to a stable and adequate retirement for an aging population.
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.
Congress has to do a lot more to improve retirement security, said a report issued Wednesday by Democrats on the congressional Joint Economic Committee. In the report, Retirement Security in Peril, the members call for modernizing Social Security and by raising the payroll tax cap and expanding benefits for some people, expanding access to defined contribution plans by allowing more open multiple employer plans and offering start-up credits for small businesses to help motivate them to offer retirement plans, among other steps.
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.
Feb 14 2018
JEC Dems Report: Retirement Security in Peril
Joint Economic Committee Democrats released today a report on the state of retirement in America. American workers are facing a crisis, the inability to retire with dignity after a life of hard work. Half of all American families near retirement have $12,000 or less in formal retirement savings. Congress should now focus on policies that broaden access to low cost, high-yield retirement savings options, strengthen Social Security, secure pension plans, and restore access to a stable and adequate retirement for an aging population.
The volume of commerce entering the country has more than tripled in the past 25 years, which has led to an increased flow of commercial traffic through ports of entry, according to the U.S. Congressional Joint Economic Committee.
Feb 08 2018
Public News Service - Bill Would Bump Up State Tax Credit to Help Families Pay for Child Care
Wood pointed to a recent report by Congress' Joint Economic Committee showing that improved access to affordable child care would lead to more women entering and staying in the workforce. And it could increase the national GDP by as much as $600 million annually. She added that access to high-quality early learning leads to improved health outcomes for children, and better wages as adults.
