Political Quotes

“I am here to talk about 55 million Americans who presently lack the authority to save for retirement directly from their paychecks. I am here to talk about preserving, protecting, strengthening retirement savings for all Americans, and I am here to talk about providing State and local governments with the tools they need to expand access to retirement savings accounts in order to reach that goal. I am here to oppose H.J. Res. 66. This misguided proposal would tear down ongoing efforts at the State and local levels to help families achieve financial stability in retirement after years of hard work and sacrifice. These ongoing efforts at the State level should be encouraged, not deterred. The numbers here tell a dramatic story. Many private sector employees have the option to set up and contribute to their own individual retirement accounts, often called IRAs. We know them well. But fewer than 10 percent of workers without access to a workplace plan contribute to a retirement savings account. This lack of retirement savings often leads to ruins--life-transforming disasters at ages when nobody deserves them, jeopardizing access to adequate meals, housing, healthcare, and other necessities for older Americans across the country. In response to this catastrophic possibility for so many Americans, in August of 2016, the Department of Labor promulgated what has become known as the State-sponsored auto-IRA rule.…”