Carolyn Maloney is the Ranking Democrat and past Chair of the Joint Economic Committee, a body serving both the U.S. House of Representatives and the U.S Senate. She’s has taken n on a leading role in addressing the nation’s economic problems and has fought for consumer protections. In addition, as a member and subcommittee chair of the House Committee on Financial Services, she has pushed to modernize financial service laws and regulations, and has been an outspoken advocating for transparency and fairness.
Carolyn has gotten billions of dollars in federal funding for critical job-creating infrastructure projects in our community. She led the effort to expand mass transit by championing projects like the Second Avenue Subway and East Side Access — the two largest mass transit projects being built in the U.S. – and is working to create high speed rail. She has worked to obtain funding to repair or replace crumbling infrastructure such as the aging Kosciuszko Bridge and tunnels and bridges damaged by Superstorm Sandy. She has supported innovative projects like select bus service to improve bus transit and the East Side Coastal Resiliency Project to protect our communities from flooding at a time of sea level rise. Altogether, Carolyn helped bring home over $10 billion in federal funds for these investments that will help people get into and around New York City, while also and creating tens of thousands of good-paying jobs for New York’s economy.
As a former teacher, Carolyn believes a high quality education is absolutely essential for preparing people for the jobs of today and the future. That’s why she supports debt-free college, allowing people to refinance their student loans, and expanding and improving STEM education.
In addition, Carolyn supports policies that help middle class families and increase the financial stability of working Americans. She has joined the call to raise the minimum wage and close the gender income gap once and for all. She is a champion for family-friendly policies including an expanded child-care tax credit and paid family leave. At the same time, Carolyn is working on the Investing in America’s Small Businesses Act, or “Micro-Biz” Act, to help small businesses flourish in New York City and across the nation with increased access to capital through Community Development Financial Institutions microloans. These loans go toward starting new businesses or investments in advanced equipment, which help create jobs and get our economy back on its feet.
To protect consumers from predatory practices, Carolyn authored the Credit Cardholders’ Bill of Rights (CARD Act), which was signed into law in May 2009. In 2015, the Consumer Financial Protection Bureau (CFPB) reported that consumers have saved $16 billion as a result of lower fees and penalties thanks to this Maloney-led effort. That is money going straight into the pockets of working families. Carolyn also played a key role in passing the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB and imposed new rules to protect our economy from another financial crisis.