Ben Cardin actually said...

"I do not think the IRA will substitute for an employer-provided incentive to save."

"But in the auto-IRA, the one thing that we found out is that, for lower wage workers and younger workers, the tax incentive, in and of itself, is not enough to get them to put money into a retirement ..."

"I think the budget that you have presented is balanced in that you look at ways in which we can manage our deficit and get it to a responsible level."

"I am deeply disappointed. We have gone through this many times in the last year or so, and I thought we had reached some understandings on Federal retirement contributions."