The numbers do not lie: Democrats are putting money back into the pockets of families across the country,” said Chairman Martin Heinrich. “The economy is stable, grocery prices are falling, and wages are increasing. That’s not happening because of luck. It’s because we are enacting policies that lower costs and boost wages while ensuring our economy works for everyone."
Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), announced the release of the annual response to the Economic Report of the President. The JEC is required by law to submit findings and recommendations in response to the Report, which is prepared and released each year by the Council of Economic Advisers (CEA).
The numbers are clear: Democratic policies grow our economy. In New Mexico alone, new business applications were nearly twice as high in 2023 as they were in 2019 under the former president.
Jun 12 2024
PREPARED REMARKS: Chairman Heinrich Leads JEC Hearing on Boom in Manufacturing Investment
Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), today led the committee in a hearing titled, “Made in America: The Boom in U.S. Manufacturing Investment”.
The Fed has made it clear that it isn't ready to lower interest rates. But unnecessarily high rates are holding back small business growth, hurting workers, and worsening the housing crisis. It is time for the Fed to lower interest rates before it causes irreparable harm to the U.S. economy.
"Communities in New Mexico and across the country feel the economic impacts of flooding directly. This report helps quantify the magnitude of that impact and the urgent need for climate mitigation and resilience efforts to help reduce it. Democrats have made vital investments to strengthen our infrastructure and lessen climate-exacerbated disasters, but more action is needed still.”
Jun 07 2024
JEC Chairman Heinrich: “A Persistently Strong Labor Market is a Win For Working Families”
"We’ve now seen more than 15 million new jobs with 40 consecutive months of job growth since President Biden took office, the fastest job growth in history. Unprecedented federal investments have helped build a more resilient U.S. economy — including a boom in U.S. manufacturing. "
May 15 2024
JEC Chairman Heinrich on April CPI Data
Washington, D.C.—Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that prices measured by the Consumer Price Index (CPI) increased 0.3% in April, lower than the March reading. Data also show that annual prices grew 3.4% over the last year, slightly lower than the 3.5% reading in March.
May 03 2024
JEC Chairman Heinrich on April Jobs Report
Washington, D.C.—Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 175,000 in April and the unemployment rate ticked up to 3.9%. The unemployment rate was 5.6% for Black workers, 4.8% for Hispanic workers, 3.5% for white workers, 2.8% for Asian workers, and 4.7% (not seasonally adjusted) for American Indian and Alaska Native workers.
Washington, D.C.—Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Economic Analysis (BEA) reported its initial estimate that real first-quarter gross domestic product (GDP) expanded 1.6% on an annual basis.
