Political Quotes

“Mr. President, earlier this week I introduced the bipartisan Retirement Enhancement and Savings Act of 2019, and the acronym for that is RESA, or R-E-S-A. I am pleased to be joined by my colleague, Ranking Member Wyden of the Finance Committee, in introducing this very important piece of legislation. The workplace retirement system provides an effective way for employees to save for retirement. Not all workers have access to retirement plans, and some workers who have access to a plan don't always participate. The committee felt that we needed to do more to encourage and facilitate retirement savings. That is why we are providing new incentives for employers to adopt retirement plans. The bill also helps to reduce costs of operating these plans and creates new provisions to encourage workers to plan and to save for retirement. This bill has been a long time in the making. Work on it actually began shortly after the passage of the Pension Protection Act of 2006. So when I say a long time, if it actually started back there at that time, that is 13 years ago. Over several Congresses, the Finance Committee has held hearings on the retirement system and reviewed a number of proposals to improve the system. Many ideas were put forward. We examined each of them carefully, including through the work of the Finance Committee's Tax Reform Working Group on Savings and Investment, which did most of its work during the year 2015.…”