[Congressional Record Volume 165, Number 164 (Thursday, October 17, 2019)]
[House]
[Page H8208]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      MEASURING REAL INCOME GROWTH

  (Mrs. CAROLYN B. MALONEY of New York asked and was given permission 
to address the House for 1 minute and to revise and extend her 
remarks.)
  Mrs. CAROLYN B. MALONEY of New York. Mr. Speaker, for years, our 
country's prosperity was broadly shared. The difference between rich 
and poor wasn't too big. When the economy grew, most Americans 
benefited. The saying was that ``a rising tide lifts all boats.''
  But today, income inequality is at its highest level in nearly a 
century. The top 1 percent take home about 20 percent of all income.
  But this story is not being told by economic indicators like GDP. GDP 
tells us how fast or slow our economy is growing, but not how that 
growth is spread across income levels.
  I am working to change that. The Joint Economic Committee, where I 
serve as vice chair, held a hearing this week to examine proposed 
measures to track inequality. These new measures are included in my 
legislation, the Measuring Real Income Growth Act.
  Under my bill, GDP growth will be analyzed by income level. It will 
tell us who the economy is working for and who is left behind, and it 
will help us craft policies to start reducing inequality so a rising 
tide really does lift all boats.

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