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

Reports & Issue Briefs

Oct 16 2023

Climate-exacerbated wildfires cost the U.S. between $394 to $893 billion each year in economic costs and damages

Wildfires represent a growing threat to the health and well-being of communities across the country. The United States has already seen a devastating string of catastrophic wildfires this year in places like Maui, the western United States, and Louisiana as these disasters become more and more damaging due to climate change. This continues a string of deadly wildfire years that make the threat of wildfires to people and the broader economy increasingly clear.

The total cost of wildfires in the United States is between $394 billion to $893 billion each year. This range was calculated by combining estimates from the existing research on the specific costs related to property damage, direct and indirect deaths and injuries, health impacts from wildfire smoke, income loss, watershed pollution, and a range of other factors. Each of these impacts on their own are very costly. Taken together, they represent disastrous consequences for the country.

Oct 16 2023

Undermining the Consumer Financial Protection Bureau Would Harm Americans’ Financial Security

Established in the aftermath of the 2008 Financial Crisis, the Consumer Financial Protection Bureau (CFPB) protects Americans from predatory financial services while fighting discrimination in the financial sector. In its first twelve years, the CFPB has been able to return or restore over $17.5 billion to American consumers in compensation, cancelled debts, and other relief, and has filed over 4 million complaints against companies on behalf of consumers.

Recently, the U.S. Supreme Court heard oral arguments in CFPB v. CFSA. The case challenges the constitutionality of the CFPB’s independent funding structure. If the current funding structure is found to be unconstitutional, American consumers will be more vulnerable to exploitative financial practices. Below are just a few examples of the work CFPB does to protect consumers and the economy.

Sep 29 2023

A Republican Shutdown Threatens WIC Nutrition Benefits in Every State and Congressional District

The Democratic Staff of the Joint Economic Committee has prepared the following estimates of the number of parents and children who could lose benefits in each Congressional District. The looming Republican-led government shutdown will jeopardize funding for the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), which helps nearly 7 million women and children afford nutritious food. Without additional funding, WIC benefits could start running out in some states within 7 days of a government shutdown, threatening vital benefits that help millions of families put food on the table.

Sep 19 2023

Growing the Economy of the Future: Job Training for the Clean Energy Transition

In the last two years, the Biden administration and Democrats in Congress have taken historic action to address the climate crisis by increasing investments in the clean energy industry. Investments in the Inflation Reduction Act and the Bipartisan Infrastructure Law have increased the demand for workers who can fill roles in a range of clean energy occupations, from manufacturing workers building wind turbines or solar panels to HVAC installers putting in heat pumps. This need creates an opportunity for millions of Americans to start stable careers they can build a family around that do not require a four-year college degree. In addition, new investments in clean energy infrastructure present an opportunity to more intentionally employ women and people of color in the energy sector and the skilled building trades where they have been historically underrepresented.

Sep 19 2023

State by State Fact Sheets: August Employment Data

Each month, the Bureau of Labor Statistics (BLS) releases national and state-level data on U.S. employment, which provide useful information about the state of the labor market and progress toward building a better America. To highlight key trends in the monthly data, the Joint Economic Committee compiles state-by-state fact sheets for all 50 states, the District of Columbia, and Puerto Rico. The most recent state-level data, which cover the month of August, were released on September 19, 2023. The latest national data were released on September 1, 2023.

Sep 15 2023

Hispanic Heritage Month: Celebrating Hispanic Success and Addressing Barriers to Opportunity

Latinos in the United States come from a wide range of backgrounds and contribute significantly to the economies within their home states, cities and towns across the nation. Policies that truly support Hispanics in the U.S. recognize their range of experiences, the contributions they have made, and the challenges many still face in striving for success for themselves, their families, and future generations. From moving the country forward in science, the arts, law and economics, to serving in the U.S. military, promoting labor rights, and working on the front lines of healthcare and essential services, Latino talent, dedication, and determination has helped drive American progress.