The civic record
Read. Follow. Verify.Joint Economic Committee Hearing on U.S. Economic Outlook (2017)
Record date · January 1, 2018
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
What This Bill Does
This document is a transcript from a 2017 Joint Economic Committee hearing featuring Kevin Hassett, Chairman of the Council of Economic Advisers. The discussion focused on factors limiting U.S. economic growth, including labor force participation, business investment, and international competitiveness regarding tax and regulatory policies.
The hearing provides insight into the economic policy priorities of the 115th Congress, specifically regarding arguments for corporate tax reform and regulatory changes intended to boost GDP and labor participation.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
U.S. Corporations
The committee discussed how international tax and regulatory differences influence the decision of these firms to operate domestically or offshore.
Prime-age workers
The committee identified the labor force participation rate of this group as a key metric for the health of the economy.
Key Facts
- The hearing took place on October 25, 2017, in the Longworth House Office Building.
- Chairman Tiberi stated that the Congressional Budget Office lowered its assessment of U.S. economic output potential every year from 2007 to 2016.
- The 2016 U.S. output potential was estimated to be over 12 percent lower than what was projected in 2007.
- The committee discussed that 33 out of 34 countries analyzed reduced their corporate tax rates between 2000 and 2017, while the U.S. rate remained unchanged.
Show all 7 facts
- Data presented indicated that 26 out of 27 countries analyzed eased product market regulations between 1998 and 2013.
- The committee identified aging population, slowing population growth, and technological changes as factors impacting production.
- The Chairman cited low business investment and declining labor force participation among prime-age workers as primary concerns.
Frequently Asked Questions
What was the purpose of this hearing?
What specific economic indicators were highlighted as problematic?
What else do you want to know?
News Coverage
Follow the record
Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Focus on International Competitiveness
The hearing explicitly frames U.S. economic stagnation as a result of failing to match the tax and regulatory easing trends seen in other OECD countries.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
Publisher tools