After Schumer Request, The Bureau Of Economic Analysis Publishes New Data Measuring Economic Growth Distributed Across Income SpectrumMarch 6, 2020
Washington D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today released the following statement in response to the Bureau of Economic Analysis’ decision to publish new data that measures how economic growth has been distributed across the income spectrum, following multiple requests by Leader Schumer, Sen. Martin Heinrich (D-NM), and Senate Democrats for additional data that details who the economy is really working for and who is being left behind:
“The Bureau of Economic Analysis (BEA) took a very important step today in publishing the data Senator Heinrich and I have long requested so the American people can accurately see who the economy is really working for and who is getting left behind. This new and critical data gives us an important tool to help develop the appropriate remedies for income inequality in this country. Families across the country are struggling with deepening income inequality and stagnating wages, and headline GDP numbers often fail to capture these realities.
“While BEA’s release today is a great first step, I urge the BEA to update this data and release it to the public as soon as possible. We also need to go further and pass the Measuring Real Income Growth Act of 2019 to ensure that this insightful data continues to be published and give the BEA the resources and information necessary to produce this data every quarter, right alongside GDP.”