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 »
Reps. Don Beyer (D-VA) and Marie Newman (D-IL), today introduced the Older Workers Bureau Act, which would establish an Older Workers’ Bureau under the Department of Labor. The bureau would be tasked with identifying challenges facing workers aged 55 and up, and guiding future policy to support the welfare of older workers.
“As more Americans work into their later years and workplace… 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 Consumer Price Index (CPI) inflation held steady at 0.4% on a seasonally adjusted basis and annual inflation slowed to 7.7% in October, down from 8.2% in September. Core inflation, which excludes volatile food… Read more »
Rep. Don Beyer (D-VA) today highlighted a series of economic analyses that show how historic legislation enacted in the past year will help constituents in Virginia’s 8th District, the region, and the Commonwealth of Virginia. These laws enacted under the current Congress and signed by President Biden, including the American Rescue Plan Act, Inflation Reduction Act, CHIPS and Science Act,… Read more »
Today, 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 (BLS) reported that nonfarm payroll employment increased by 261,000 in October and the unemployment rate increased to 3.7%. The unemployment rate was 5.9% for Black workers, 4.2% for Hispanic workers, 2.9% for Asian… Read more »
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 third quarter gross domestic product (GDP) expanded 2.6% on an annualized basis.
Visit the JEC’s Macroeconomic Dashboard to view the latest economic data.
“An even… Read more »
New reporting and interviews with Republican leaders have clarified House Republicans’ intent to use threats to block an increase to the debt limit – which could lead to a default and a major economic crisis – subject to demands for policy concessions.
The Bipartisan Policy Center projects that the debt limit will need to be raised in the third quarter of 2023. Congress’ Joint Economic… Read more »
To commemorate National Hispanic Heritage Month, which runs through October 15, the Congressional Hispanic Caucus (CHC), led by Congressman Dr. Raul Ruiz (D-CA), and the U.S. Congress Joint Economic Committee (JEC), led by Congressman Don Beyer (D-VA), released a new report that examines the outsized contributions Latina workers make to the U.S. economy and highlights barriers to… Read more »
