Political Quotes

“this is a great day. We are doing something, and the question to ask as we work on this legislation is, is it not about time? If you think about it, I think this is the third or the fourth time we have passed this legislation out of the House, and we finally have a President now that will sign it into law. It has been a bipartisan effort over the last several years. My friends, the gentleman from Ohio (Mr. Portman) and the gentleman from Maryland (Mr. Cardin) have done a great job working with the committee and showing leadership in assembling a great package that will help millions of middle-class Americans and families save for their retirement. I think it is a tremendous achievement, recognizing that when individual retirement accounts were created way back in the early 1980s, that the limit was set at $2,000. If you factor in inflation, it should be well over $5,000 today. We accomplish that goal by phasing in an increase in the contribution level for IRAs to $5,000. There are two other provisions that I want to highlight, and I really want to commend the leadership on our committee for including these two provisions in this package.”