Sen. Martin Heinrich

JEC News:

WASHINGTON, D.C. — Sen. Martin Heinrich, (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement today after the Bureau of Economic Analysis (BEA) reported its initial estimate that second-quarter gross domestic product (GDP) expanded 2.4 percent on an annual basis.

 “The American economy continues to exceed expectations, thanks to smart economic policies that work to benefit families, workers, and small businesses in New Mexico and across the country.

“Today’s release shows first-hand how increased investment, due to in large part to the landmark bills passed last Congress, can spur economic growth by investing in key industries.

“Wages are up, consumer confidence is rising, unemployment is down, and our economy continues to add new jobs in construction, manufacturing, clean energy, and other key sectors. And as we approach the one-year Anniversary of the Inflation Reduction Act, we’re also seeing lower inflation each month.

“There’s still work to be done, but we’re making real progress. I’ll continue to work with my colleagues and with the Biden Administration towards policies that benefit American families and workers and keep our economy on track.”