David Schweikert: “It is neat to see us actually have something that we are all doing together. A bit of trivia, at the end of this decade…”

“It is neat to see us actually have something that we are all doing together. A bit of trivia, at the end of this decade, 22 percent of our population will be 65 or older. Retirement security is--besides just the moral imperative--it is going to be the financial, it is going to be the driver of almost all sovereign debt. Look, there are a couple dozen provisions in this legislation, and in many ways they look like tinkering, but they come together. If you happen to have a profession where you have a mandatory retirement age that might be 60, 65, the ability to do catch-up--to be a small business and knowing what you can contribute to your 401(k) when you are doing your taxes instead of trying to guess at the end of the year--these things all come together. We are also going to have to look forward in the coming year and deal with the reality of what did inflation do to the cost of future retirement? The taxation on, really, gain, that isn't purchasing power, but is inflation. This is a terrific first step and it is neat to have us do something together.”