Economy

Rep. Don Beyer (D-VA), outgoing Chair of Congress’ Joint Economic Committee, issued the following statement today on the Bureau of Economic Analysis (BEA) advance estimate for the U.S. gross domestic product (GDP) that found that the U.S. economy grew by 2.9 percent in the fourth quarter on an annualized basis and 2.1 percent for the full year of 2022: “Today’s economic news caps a… Read more »

Originally Published in The Zebra. Today ALIVE! announced their intent to purchase of a food storage warehouse, thanks to a federal government bill that allocates $1.5 million to their Community Project Funding Request. The investment amounts to the largest single commitment of funds in the nonprofit’s 50-year history. Congressman Don Beyer (D-VA) played a key role in securing… Read more »

Rep. Don Beyer (D-VA) today hailed passage of the omnibus funding bill in the House. The bill was negotiated on a bipartisan basis between Senate Democrats and Republicans and House Democrats, passed the Senate yesterday, and now heads to President Biden for signature. The bill contained Beyer-authored and co-authored legislation as well as community project funding and other Northern… Read more »

Rep. Don Beyer (D-VA), who represents Northern Virginia in the U.S. House, today announced that he had secured funding and legislative wins in the bipartisan funding bill for FY23. The omnibus government funding bill was the product of bipartisan negotiations; it passed the Senate this afternoon and expected to be passed by the House later today. Beyer said: “I am proud to announce that… Read more »

Today, the U.S. Congress Joint Economic Committee—led by Chairman Don Beyer (D-VA)—released a new report detailing the rise and fall of the digital asset market in 2021 and 2022 and the need for further protections to mitigate risks to everyday consumers and the U.S. financial system.   In the fall of 2021, the digital asset market reached a record-high $3 trillion… Read more »

The U.S. Congress Joint Economic Committee—led by Chairman Don Beyer (D-VA)—released a new report highlighting the significant contributions immigrants make to the U.S. economy and its recovery from the pandemic.  Among the report’s key findings:  Immigrants helped power the economic recovery. Foreign-born workers were hit disproportionately hard by the pandemic but… Read more »

Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics reported that monthly Consumer Price Index (CPI) inflation slowed to 0.1% on a seasonally adjusted basis in November and annual inflation slowed to 7.1%, down from 7.7% in October. Core inflation, which excludes volatile food and… Read more »

Today, the U.S. Congress Joint Economic Committee—led by Chairman Don Beyer (D-VA)—released a new report highlighting the record-breaking decline in the poverty rate in 2021. Data show the American Rescue Plan and Biden administration actions helped lift 4.5 million Americans across races and ethnicities out of poverty from 2020 to 2021, including more than 3 million… Read more »

The U.S. Congress Joint Economic Committee (JEC)—led by Chairman Don Beyer (D-VA)—released a new report detailing how automatic child trust accounts, known as “Baby Bonds,” would improve economic opportunity and social mobility for children and families and strengthen the U.S. economy. Baby Bonds would provide children at birth their own bank account with a specified amount of money.… Read more »

Today, the U.S. Congress Joint Economic Committee (JEC)—led by Chairman Don Beyer (D-VA)—released a new report that highlights how the expanded Child Tax Credit (CTC) drove the largest-ever decline in child poverty in a single year in 2021. Child poverty fell to 5.2%, the lowest rate on record according to Census Bureau measures, and data show the CTC expansion was the single-largest… Read more »