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Joint Economic Committee Democrats

Publications

Mar 12 2018

Senate Democrats Release Infrastructure Proposal

Senate Democrats released an infrastructure proposal that would help repair and modernize the nation’s deteriorating infrastructure systems. Included in the plan is $140 billion to shore up the Highway Trust Fund (HTF). The Trump administration, on the other hand, has proposed an infrastructure plan that will generate little to no new infrastructure spending, and a budget that would cut $122 billion in HTF spending. This would result in vital highway and transit projects across the country going unfunded or being delayed, and the nation’s infrastructure falling further into disrepair.

Mar 09 2018

President Trump Job Tracker February 2018

Joint Economic Committee Democratic staff are comparing job growth each month to the average in the late 1990s (a boom time in the economy), but also to the best individual month each series has ever seen.

Mar 06 2018

Dodd-Frank Roll Back Bill: A Windfall for Big Banks

Just 10 years after the worst financial crisis in over a century, the Senate is considering a bill that would dramatically roll back important market protections on our nation’s largest banks. The Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155) would undo many of the safeguards put in place under Dodd-Frank, threatening to once again leave Main Street on the hook for poor decisions on Wall Street.

Mar 06 2018

10 Ways Dodd-Frank Roll Back Bill Fails Consumers

The Senate will soon take up consideration of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155), which leaves out key consumer reforms and would weaken important protections that ensure Americans are treated fairly in financial markets. Here are 10 ways consumers are left behind:

Mar 05 2018

GOP Tax Scam: Gains for Those Who Need Them Least

Warren Buffett’s annual letter to shareholders disclosed that Berkshire Hathaway reaped a massive gain as a result of the Republican tax reform passed in December. As Buffett wrote, “a large portion of our gain did not come from anything we accomplished at Berkshire.” Rather, $29 billion was handed out to Berkshire Hathaway, a large, highly successful investment company that hardly needs the help.

Mar 05 2018

Most Companies Will Deliver the Majority of Tax Savings to Shareholders

Most companies that have made announcements on how they are using their tax savings are planning to pass those savings directly to shareholders in the form of stock buybacks or dividends, according to new nonpartisan research. Two thirds of the companies surveyed will use at least 75 percent of their savings to boost stock buybacks and dividends. In total, the research shows that companies plan to use 58 percent of their tax savings on these stock boosting moves, compared with 6 percent being passed to workers in the form of higher wages, one-time bonuses, higher benefits, or worker training.

Mar 01 2018

Consumer Corner: Mulvaney Gives Payday Lenders a Free Pass

In January, the Consumer Financial Protection Bureau (CFPB), under the direction of Mick Mulvaney, dropped a lawsuit against a payday lending company with a history of charging up to 950 percent interest on small-dollar loans. This move is part of the interim director’s strategic plan to deregulate and defang the consumer agency, which he repeatedly criticized as a congressman.

Feb 23 2018

Trump Budget Would Cut Spending in Critical Areas Like Education and Housing

The president’s recently released budget proposes steep cuts to non-defense discretionary spending, which includes housing, education, infrastructure, food assistance, and other investments critical for working families. Over the next ten years, the budget would reduce Supplemental Nutrition Assistance Program (SNAP) benefits by nearly 30 percent, cancel housing vouchers for roughly 200,000 households, and cut support for income assistance and work programs for families with children.

Feb 20 2018

Where are the Wage Increases Republicans Promised?

Despite Republican assurances that corporate tax cuts would generate wage increases for workers, the evidence so far shows that it is shareholders, not workers, who are realizing the vast majority of gains from tax reform.