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, DC – U.S. Representative Bill Pascrell, Jr. (NJ-09), Ranking Member of the Ways and Means Trade Subcommittee, issued the following statement on the release of a Department of Treasury report on developments in international economic and exchange rate policies.
WASHINGTON, D.C. – Today, U.S. Representative Bill Pascrell, Jr. (D-NJ), a member of the House Ways and Means Committee, and 12 cosponsors introduced a measure in the House of Representatives that would extend the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) to U.S. citizens in Puerto Rico.
WASHINGTON, DC – Today, U.S. Representative Bill Pascrell, Jr. (D-NJ), a member of the House Ways and Means Committee, released the following statement after the Department of Labor announced that the economy lost 33,000 jobs in September:
WASHINGTON, DC – Today, U.S. Representative Bill Pascrell, Jr. (D-NJ), a member of the House Ways and Means Committee, called on the committee to take action on a number of legislative items that would aid in Puerto Rico’s disaster and economic recovery during a bill markup. Additionally, Rep. Pascrell urged Republican Congressional Leadership and the Trump Administration to mount a meaningful response to the humanitarian and public health crisis in Puerto Rico. Video of his remarks is available here.
WASHINGTON, DC – Today, U.S. Representative Bill Pascrell, Jr. (D-NJ), a member of the House Committee on Ways and Means, responded to the tax reform outline released by Congressional Republicans.
WASHINGTON, DC – Today, U.S. Representative Bill Pascrell, Jr. (NJ-09) released this statement after Attorney General Jeff Sessions announced that President Trump will terminate the Deferred Action for Childhood Arrivals (DACA) initiative.
WASHINGTON, D.C. – U.S. Representative Bill Pascrell, Jr. (D-NJ) led a bipartisan, bicameral letter to President Donald Trump last week urging support for legislative action reforming visa programs to protect American workers and crack down on outsourcing companies which deprive qualified Americans of high-skill jobs. The letter, in particular, hails the bipartisan H-1B and L-1 Visa Reform Act of 2017 as a measure that addresses certain shortcomings in the visa programs, including deficiencies highlighted by President Trump in remarks last week.
WASHINGTON, DC – Ways and Means Committee Ranking Member Richard Neal (D-MA) and Trade Subcommittee Ranking Member Bill Pascrell, Jr. (D-NJ) today released the following statements after the Office of the United States Trade Representative (USTR) published a summary of objectives for the renegotiation of the North American Free Trade Agreement (NAFTA):
Ranking Member Neal:
WASHINGTON, D.C. – Today, U.S. Representative Bill Pascrell, Jr. (NJ-09), a member of the Ways and Means Committee, released the following statement in response to the report by the nonpartisan Congressional Budget Office (CBO) on the Senate Trumpcare bill.