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
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.
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.
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.
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.
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.
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).
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.
PATERSON, NJ – U.S. Rep. Bill Pascrell, Jr. (D-NJ), a member of the House Ways and Means Committee and Budget Committee, released the following statement today after the Department of Labor announced that the U.S. added 255,000 jobs in July, greatly surpassing expectations for the month.
WASHINGTON – Today, U.S. Rep. Bill Pascrell, Jr. (D-NJ-09) introduced the H-1B and L-1 Visa Reform Act of 2016, bipartisan legislation to overhaul the H-1B and L-1 visa programs to protect workers and crack down on foreign outsourcing companies which deprive qualified Americans of high-skill jobs. The bill is co-sponsored by Rep. Dana Rohrabacher (R-CA-48).
Statement from Rep. Pascrell regarding the passage of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) by the House Thursday.
After careful consideration and review, I have decided to support H.R. 5278, the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). While I remain concerned about some of the provisions included in the bill, and I am disappointed about others that are not included, the situation in Puerto Rico is too dire to sit back and do nothing.