REP. CAROLYN MALONEY TAKES HELM OF JOINT ECONOMIC COMMITTEE
Maloney Becomes the First Woman to Chair the JEC
Committee Will Continue Aggressive Push to Address Serious Economic Crisis
Washington, D. C. – Last night Speaker Nancy Pelosi appointed Congresswoman Carolyn B. Maloney (D-NY) to chair the Joint Economic Committee (JEC). Congresswoman Maloney served as the Vice Chair of the JEC during the 110th Congress. Former Chair, Senator Charles E. Schumer (D-NY), is now the Vice Chairman. The JEC is a bicameral Congressional Committee established by the Employment Act of 1946, the same legislation that created the President's Council of Economic Advisers. The chairmanship transfers between the Senate and House with every new Congress.
Congresswoman Maloney said, "I am honored that Speaker Pelosi has appointed me the Chair of the Joint Economic Committee (JEC) in the 111th Congress. In such an historic year, I am pleased that our first woman Speaker has asked me to be the first woman to Chair the JEC. I look forward to working closely with President Obama's economic team and to continuing to work with Sen. Chuck Schumer as Vice Chairman on long-term solutions to the grim economic situation facing our country-- and putting the needs and concerns of America's working families front-and-center in Washington."
Sen. Schumer said, “Carolyn Maloney has been a great partner over the last two years as the JEC examined serious problems affecting middle class families and offered up real solutions to help those families and our economy as a whole. From the exorbitant costs of the war in Iraq, to the fallout from the subprime mortgage crisis, to the benefits of increased energy efficiency, the JEC has covered a lot of ground over the last two years. I know that Rep. Maloney will direct the committee to continue to look out for middle class families and promote the ideas and policies that benefit them and our overall economy during these difficult times.”
In the 111th Congress, the Committee will focus on the economic crisis and recession as they unfold, and will be actively involved with crafting our path to recovery. The Committee will scrutinize the relationship between the economic crisis and the labor market, housing market, healthcare reform, consumer spending and credit, as well as economic recovery and stimulus measures and the reform of the financial regulation system. In addition, the Committee will examine how to improve Congressional oversight of economic policy by enhancing the quality of government statistics and exposing fragmented administrative responsibilities.
Congresswoman Maloney, working with Sen. Schumer, has drawn attention to the failed economic policies of the Bush Administration that have contributed to our current economic woes: the mortgage and credit crisis, the enormous cost of the war in Iraq, high gas and food prices, rising unemployment, record-setting public debt, and widening income disparities.
The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
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