The Joint Economic Committee (JEC) was created when Congress passed the Employment Act of 1946. Under this Act, Congress established two advisory panels: the President's Council of Economic Advisers (CEA) and the Joint Economic Committee. Their primary tasks are to review economic conditions and to recommend improvements in economic policy.
December 16, 2024
Washington, D.C.— The Joint Economic Committee (JEC) Democrats released a new report today detailing how Trump’s mass deportation plans would cause catastrophic harm to the economy.
Depending on how many immigrants are deported, these mass deportations would:
December 11, 2024
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 November. Data also show that annual prices grew 2.7.% over the last year.
December 6, 2024
Washington, D.C.— Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), issued the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 227,000 in November and the unemployment rate increased to 4.2%. The unemployment rate was 6.4% for Black workers, 5.3% for Hispanic workers, 3.8% for white workers, 3.8% for Asian workers, and 8.3% (not seasonally adjusted) for American Indian and Alaska Native workers.
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December 17, 2024
Throughout 2023, both policymakers and advocates warned that the labor force participation rate (LFPR) for women was about to drop. The main reason? Much of the American Rescue Plan’s (ARP) child care funding was slated to expire in September 2023. This “child care funding cliff” was expected to put 3.2 million children at risk of losing child care, which would subsequently cause many women to drop out of the workforce to take care of their kids.
December 16, 2024
Climate-exacerbated disasters, such as wildfires, hurricanes, floods, drought, and excessive heat, are increasing risk and causing damage to homes across the country. Rising premiums and this issue of uninsurability could seriously disrupt the housing market and stress state-operated insurance programs, public services, and disaster relief.
December 11, 2024
The incoming Trump administration plans to conduct mass deportations that would upend entire communities and have severe economic fallout. Mass deportations would reduce economic growth, shrink the labor force, cost U.S.-born workers their jobs, raise costs for nearly all Americans, and risk igniting inflation.
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JUNE 2024 | JEC Report on the 2024 Economic Report of The President
JULY 2023 | JEC Report on the 2023 Economic Report of The President