“Reforming Medicare Advantage allows us to protect seniors and the benefits they have earned while strengthening Medicare’s future,” said JEC Chairman David Schweikert. “Making these necessary reforms would cut federal spending by $1.8 trillion over 10 years while lowering Medicare premiums so seniors can keep more of their hard-earned money. With a soaring national debt and continued affordability challenges, we have a responsibility to lower costs, reduce taxpayer spending, and put Medicare on a more fiscally responsible path. I ask my colleagues to join me in making these critical reforms to protect seniors today and preserve Medicare for generations to come.” jec.senate.gov/public/index.…

The SMARTER Act: Ends mass migration, replaces H-1B visas with a measured, merit-based system that admits only the most valuable applicants; Improves labor market conditions for American workers by reducing excess imported labor; Supports economic growth, technological development & national security by addressing quantifiable supply shortages by industry; Helps the U.S. compete against China & other competitors for entrepreneurs, inventors & other talent; Addresses demographic headwinds as the ratio of workers to the retirees they support reaches historic lows. jec.senate.gov/public/index.…

The “Young, Talented, and Ready: Pivoting Toward a National Scheme of Points-Based Immigration,”finds: •Immigration is necessary to maintain the growth of the U.S. economy, to mitigate the nation’s increasing federal debt, and to adeptly compete with geopolitical rivals.Debt is now over 120 percent of GDP in the U.S., and action must be taken to grow the nation’s GDP without allowing debt to increase even faster. Smarter immigration policies can ameliorate this problem. •Today, a plurality of lawful permanent residents immigrate to the U.S. through family reunification green cards. This current system distributes visas randomly or by order of application received rather than meritocratically. High-skilled immigration, particularly in underserved or bottlenecked industries, results in more innovation and more economic growth. •The global pool of elite talent is finite, and other countries like China and Canada are also attempting to attract high-skilled immigrants. One new Canadian visa program pulled away 10,000 would-be immigrants to the U.S. within 24 hours of applications opening. •It is imperative to reform immigration policies to prioritize high-skilled, employment-based immigration and limit less productive and more costly forms of immigration like family-sponsored or diversity-based visas. This path would better support U.S. industries while minimizing cost to taxpayers and protecting the earnings of American workers. jec.senate.gov/public/index.…

“Today in the United States, we have the same number of 18-year-olds as we did almost 20 years ago, while the older population is growing exponentially, creating a demographic shift that shrinks the workforce needed to sustain our long-term financial health. If we are serious about tackling our debt, growing our economy, and safeguarding our earned federal benefits, we must cultivate a workforce that continues to compete globally at the highest level, supports our domestic industries, and optimizes our nation’s financial viability,” said Chairman David Schweikert. “To address our workforce shortages and elevate American productivity while increasing workers’ value, it is imperative to reform policies to prioritize selective, high-skilled, employment-based visas over family-sponsored or diversity migration. This is truly prioritizing America, as we strengthen our economic prosperity and national security by building the best workforce of the future while expanding opportunities for all Americans.” jec.senate.gov/public/index.…

Interest payments could consume 55 percent of federal receipts excluding payroll taxes by 2036.Under CBO's higher-rate scenario, net interest spending would reach 55.4 percent of available tax receipts by 2036, compared with 38.1 percent under CBO's baseline projection. Even under the lower-rate scenario, interest spending would consume 43.6 percent of available tax receipts. jec.senate.gov/public/index.…

“We are rapidly approaching a fiscal reality where more than half of federal receipts outside of payroll taxes could go toward servicing our debt by 2036,”said JEC Chairman David Schweikert. “Under this higher interest rate scenario, we could spend $23 trillion on interest alone over the next decade. That is spending not on Social Security, not on Medicare, not on national defense, but simply paying for yesterday’s borrowing. When interest costs are growing nearly three times faster than the economy, the math becomes impossible to ignore. Every dollar we borrow makes us more vulnerable to higher interest rates and leaves fewer resources for everything else. We are approaching a debt spiral that could become mathematically impossible to escape and the window to avert a full-blown fiscal crisis is rapidly closing.” jec.senate.gov/public/_cache…

Medicare Part B premiums are consuming a growing share of Social Security benefits. When Medicare began in 1966, the standard Part B premium equaled about 3.6 percent of the average retired worker’s Social Security benefit. In 2026, it consumes nearly 10 percent. Read more here: jec.senate.gov/public/_cache…

Total trade deficit in Aug was $105.57B, up $12.75B from July & 60% above the 12-month avg. Trade of goods, trade deficit was $136.57B, up $12.76B from July & 43% above the 12-month avg. Trade of services, trade surplus was $31.00B, up $18M from July & 4% above the 12-month avg. jec.senate.gov/public/index.…

As of Oct 05, total gross national debt is $40.25T. Relative to one year ago, total gross national debt is $2.39T; relative to 5 years ago, it is $11.82T higher. Over the past year, the rate of increase averaged $6.55B/day, $273.11M/hour, $4.55M/minute, or $75,863.07/second. jec.senate.gov/public/index.…

Three years ago today, Hamas terrorists carried out the horrific October 7 attack on Israel, killing more than 1,200 innocent people and taking 251 hostages, including women and children. Today, we remember the innocent lives lost, those taken hostage, and all those who have fallen defending Israel in the years since. The United States stands with the people of Israel and Jewish communities around the world as we honor the victims of October 7 and reaffirm our commitment to Israel’s security and sovereignty. May their memories be a blessing. We will never forget.

496K Jobs Gained in FY2026, 29K Jobs Added in September, Participation Rate Relatively Steady. FY2026 unemployment decreased slightly by 0.2pp ending at 4.2% & the labor force participation rate held steady for prime aged workers (83.7%) but ticked down by 0.7pp overall ending the year at 61.8%. jec.senate.gov/public/index.…

National debt increased by $2.53T over FY2026, bringing total federal debt to $40.17T as of Sept 30. Assuming the avg daily rate of growth over the past year continues: every 169 days we borrow $1T in debt held by the public, every 158 days we borrow $1T in total national debt.

JEC released new issue brief entitled Who Pays, Who Saves? How Medicaid Payment Structures Impact Fraud Enforcement, examining how the federal-state Medicaid financing structure may create misaligned incentives for states to identify and address fraud, waste & improper payments. jec.senate.gov/public/index.…

July-Aug, headline PCE inflation was 0.31%. Core PCE inflation, which excludes food & energy prices, was 0.25%. Headline personal income increased 0.24%, or $66.65B, while real disposable personal income/capita increased 0.05%, meaning prices rose faster than after tax income. jec.senate.gov/public/index.…

August unemployment fell in 27 states + DC, remained unchanged in 19, increased in 4. The highest unemployment rate was 5.7% in DC & the lowest was 2% in SD. Nationally, the unemployment rate remained at 4.1% & the labor force participation rate rose by 0.2pp to 61.6%. jec.senate.gov/public/index.…