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Economy

Warren, King, Bennet, Beyer Call For Strong Implementation of Corporate Minimum Tax

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United States Senator Elizabeth Warren (D-Mass.), along with Senators Angus King (I-Maine.), Michael Bennet (D-Colo.), and Representative Donald S. Beyer (D-Va.), sent a letter to U.S Treasury Secretary Janet Yellen urging her and her staff to pursue strong implementation of the 15 percent corporate minimum tax (CMT) on billion-dollar corporations in the Inflation Reduction Act of…

JEC Analysis Finds Opioid Epidemic Cost U.S. Nearly $1.5 Trillion in 2020

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Tags: Economy

Today, in Recognition of National recovery Month, the U.S. Congress Joint Economic Committee (JEC)—led by Chairman Don Beyer (D-VA)—released a new analysis that finds the opioid epidemic cost the United States a record of nearly $1.5 trillion in 2020. This is up 37% from 2017, when the CDC last measured the cost.  After the pandemic disrupted the U.S. health care system, reducing…

Joint Economic Committee, Congressional Hispanic Caucus Release New Report on Hispanic Americans’ Contributions to U.S. Prosperity, Barriers to Inclusive Growth

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To commemorate National Hispanic Heritage Month, which begins today and runs through October 15, the U.S. Congress Joint Economic Committee (JEC), led by Congressman Don Beyer (D-VA), and the Congressional Hispanic Caucus (CHC), led by Congressman Dr. Raul Ruiz, M.D. (D-CA), released a new report highlighting the essential contributions Hispanic Americans make to U.S. economic growth…

JEC Chairman Don Beyer on August CPI data

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Tags: Economy

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 the August Consumer Price Index release showed inflation was up 0.1% over the last month on a seasonally adjusted basis, after being unchanged in July. Annual inflation slowed to 8.3% from 8.5% in July.   “Gas…

Beyer Floor Remarks On Inflation Reduction Act

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Rep. Don Beyer, Chair of Congress’ Joint Economic Committee and a member of the House Committee on Ways and Means, today spoke during debate on the House Floor on the Inflation Reduction Act. Beyer’s prepared remarks follow below (remarks as delivered here): Madame Speaker, today we protect our world for future generations. The Inflation Reduction Act will do so much good for the…

Chairman Beyer Statement on Passage of the Inflation Reduction Act

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Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the House passed the Inflation Reduction Act of 2022. This legislation was previously passed by the Senate, and it will now head to President Biden’s desk for signing. “Today, Congressional Democrats are sending to President Biden fiscally responsible,…

Chairman Beyer on July CPI Data

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Tags: Economy

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 the July Consumer Price Index showed inflation was flat at 0.0% over the last month on a seasonally adjusted basis, down from an increase of 1.3% in June. The deceleration slowed annual inflation to 8.5% from a year…

Chairman Beyer’s Remarks At Rules Committee Hearing On Inflation Reduction Act

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Rep. Don Beyer (D-VA), Chair of Congress’ Joint Economic Committee and a member of the House Committee on Ways and Means, today testified before the House Rules Committee in support of the Inflation Reduction Act. The Rules Committee markup began the process of advancing the bill for consideration on the House floor, which is expected to happen Friday. Beyer’s remarks as prepared follow…

JEC Chairman Beyer on Second Quarter GDP Release

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Tags: Economy

Today, Congressman Don Beyer (D-VA), 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 of second quarter gross domestic product (GDP) contracting 0.9%. Visit the JEC’s Macroeconomic Dashboard to view the latest economic data. “Today’s GDP figure shows our recovery from…

Congressmen Cohen and Beyer Introduce Billionaire Minimum Income Tax Act

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Congressmen Steve Cohen (TN-09) and Don Beyer (VA-08), after extensive consultation with the White House and Treasury Department officials, today introduced the Billionaire Minimum Income Tax Act, to ensure that the wealthiest Americans pay their fair share in taxes. The bill would enact President Biden’s proposal to require households worth over $100 million to pay at least a 20 percent…