Live at 1:00 p.m. ET → Speaker Ryan's Farewell Address:

WASHINGTON—House Speaker Paul Ryan (R-WI) today announced the appointment of Rep. Erik Paulsen (R-MN) as chair of the Joint Economic Committee (JEC). The chairmanship of the Committee alternates between the Senate and House every Congress. 

“I am pleased to announce Erik Paulsen as the new chairman of the Joint Economic Committee. He is the right person to lead this committee’s vital mission of increasing economic growth. As Congress works to write laws that boost our nation’s economy, Erik’s vast experience working on tax and economic matters will serve the committee and the Congress well,” Speaker Ryan said.

“I also want to thank my good friend, Pat Tiberi, for his service as chairman of the committee. He was instrumental in passing tax reform, which is already bringing back economic optimism to the United States.”

“We need more jobs, better salaries, and a stronger Minnesota and U.S. economy, and as the chairman of the Joint Economic Committee, I will make these my priorities,” Congressman Paulsen said. “The JEC has a long history of bringing together the best ideas from both parties and both chambers to advise Congress on how to grow our economy and promote trade, innovation, entrepreneurship, and economic opportunity for all Americans, and I look forward to leading these discussions in my new role.”

Established by the Employment Act of 1946, the Joint Economic Committee’s primary tasks are to review economic conditions and recommend improvements in economic policy.