Congressman Bill Pascrell

Representing the 9th District of NEW JERSEY

Economy

In recent years, middle class families have found their economic circumstances increasingly uncertain. Many workers face wage stagnation, or even prolonged unemployment, and fewer workers have guaranteed pension benefit plans, causing many to worry about retirement. All of this uncertainty comes at a time when families face increasing costs for education, health care, and energy.

Bill knows that many American families are finding it harder and harder to hold on to the American dream. Too often, we hear about parents worried that their children will not be able to build on their success and create a higher standard of living for themselves. As a member of the House Ways and Means Committee with broad jurisdiction over economic policies, Bill is taking a deeper look at what is driving these concerns so he can help build and maintain an economy that works for all Americans.

In the last year Bill helped successfully prevent middle class workers from paying the Alternative Minimum Tax that would have added thousands of dollars to their tax burden. He pushed legislation to increase the federal minimum wage, while working to give tax relief for small business owners nationwide. He worked hard to help create change in our nation's trade agenda so that American workers are no longer left behind. Bill got into public service to fight for working families and it is a cause he will not give up.

In the 111th Congress, Bill voted in support of the American Recovery and Reinvestment Act of 2009 which helped to create and save 100,000 jobs in New Jersey. The bill also provided for more than $26.6 billion in highway infrastructure investment including more than $651 million for New Jersey.

Responding to the shuttering of auto dealerships throughout the country, Bill championed a provision in The Recovery Act that allowed taxpayers a deduction for State and local sales and excise taxes paid on the purchase of a new car through 2009 to help thousands of ailing dealerships nationwide and their employees.

Bill also supported two bills that put consumers and investors back in charge of their finances. Bill co-sponsored and voted to approve the Credit Cardholder Bill of Rights Act. This measure limits the cycle-increasing credit card debt faced by millions of Americans and ensures consumer protections against the predatory practices of the credit card companies.

Bill also supported comprehensive financial regulatory reform, in order to hold Wall Street and Big Banks accountable, end the era of taxpayer-funded bailouts and “too-big-too-fail.” This bill regulates the shadow markets and stops casino style gambling with your retirement and savings. The bill also streamlines existing regulatory agencies to create the new Consumer Financial Protection Agency (CFPA). The CFPA will protect consumers from predatory lending abuses, fine print, and industry gimmicks.

Bill knows that in the end, the key to our economic recovery is in empowering working-class Americans. He will keep fighting to accomplish that end.

More on Economy

Feb 17, 2017

WASHINGTON, D.C. – Committee on Ways and Means Trade Subcommittee Ranking Member Bill Pascrell, Jr. (D-NJ), Reps. Sander Levin (D-MI), and Tim Ryan (D-OH) today sent a letter to President Trump today urging him to go beyond executive action and support legislation that would direct the Department of Commerce to treat currency manipulation as a countervailable subsidy.

Feb 9, 2017

WASHINGTON, D.C. – In advance of President Trump’s meeting with Japanese Prime Minister Shinzo Abe, Reps. Bill Pascrell, Jr. (D-NJ), Sander Levin (D-MI), and Marcy Kaptur (D-OH) detailed the long-standing economic barriers put in place by Japan to block U.S. exports. Rep. Pascrell is the Ranking Member of the Ways and Means Trade Subcommittee. Rep. Kaptur is co-chair of the House Auto Caucus. She and Mr. Levin traveled to Japan in the mid-1980s to highlight the problems with U.S.-Japan trade.

Feb 1, 2017

WASHINGTON, D.C. – Today, U.S. Representative Bill Pascrell, Jr. (D-NJ), a member of the Ways and Means Committee, is calling on Ways and Means Chairman Kevin Brady (R-TX) to submit a formal request to the Secretary of the Treasury for President Trump’s tax returns for each of the past ten years.

Jan 12, 2017

WASHINGTON, D.C. – Today, the House Ways and Means Committee named U.S. Representative Bill Pascrell, Jr. (D-NJ) Ranking Member of the Subcommittee on Trade.

Dec 2, 2016

PATERSON, NJ – U.S. Rep. Bill Pascrell, Jr. (D-NJ), a member of the House Budget Committee and Ways and Means Committee, released the following statement today after the Department of Labor announced that November’s job growth was strong with 178,000 jobs created and unemployment falling to just 4.6 percent. This followed news that GDP growth was also higher than expected at 3.2 percent in the third quarter of 2016.

Sep 28, 2016

WASHINGTON, D.C. – Today, U.S. Representative Bill Pascrell, Jr. (D-N.J.) and Senator Elizabeth Warren (D-Mass.) today wrote to Federal Bureau of Investigations (FBI) Director James Comey to renew their request that the agency release materials related to the investigation of individuals and companies referred by the Financial Crisis Inquiry Commission (FCIC) to the Department of Justice (DOJ). The letter comes following the FBI's release on Friday of additional documents related to former Secretary of State Hillary Clinton's email use.

Sep 27, 2016

WASHINGTON, D.C. – Today, U.S. Representative Bill Pascrell, Jr. (D-NJ), a member of House Ways and Means Committee, and U.S. Representative Walter B. Jones (R-NC) introduced the bipartisan Border Tax Equity Act, which would mitigate the negative impact of border tax adjustments on U.S. exporters. The bill addresses disadvantages for American exporters – estimated to be $204 billion annually in trade with the European Union alone.

Sep 22, 2016

WASHINGTON, D.C. – Today by a vote of 415-1, the U.S. House of Representatives passed H.R. 5946, the United States Appreciation for Olympians and Paralympians Act, which includes an amendment from U.S Representative Bill Pascrell, Jr. (D-NJ-09), a member of the House Ways and Means Committee. This amendment would exclude millionaires from a proposed tax break for Olympic and Paralympic medal winners.

Sep 13, 2016

WASHINGTON, D.C. – U.S. Representative Bill Pascrell, Jr. (D-NJ) has requested a U.S. Government Accountability Office (GAO) review of the ticket industry, specifically seeking transparency regarding sales, public information, secondary markets, and use of automated ticket-purchasing programs, or bots. The study was requested by Rep. Pascrell, House Committee on Energy and Commerce Chairman Fred Upton (R-MI) and Ranking Member Frank Pallone, Jr. (D-NJ).

Sep 7, 2016

WASHINGTON, D.C. – U.S. Representative Bill Pascrell, Jr. (D-NJ), a member of the House Ways and Means Committee, yesterday called on Federal Bureau of Investigations Director James Comey to release unclassified case files from the agency's investigation into the financial institutions at the center of the 2008 financial crisis, our country's worst economic disaster since the Great Depression. The FBI letter is available here.