Political Quotes

“as chairman of the Senate Aging Committee, ensuring that more Americans are secure financially in their retirement years is one of my highest priorities. Later this week, our Aging Committee will hold a hearing on this very topic, following up on previous work we have done in the last Congress. Today, I rise to introduce two bipartisan bills that would help to promote greater retirement security. Together, these bills would encourage more small employers to offer retirement plans, provide incentives for employees to save more for their retirement, and make it easier for low- and middle-income taxpayers to claim an existing tax break for their retirement savings. According to the nonpartisan Center for Retirement Research, there is an estimated $7.7 trillion gap between the savings that American households need to maintain their standard of living in retirement and what they actually have saved. Think of that. We are not talking about billions here; we are talking about a $7.7 trillion gap. A recent Gallup poll found that only 54 percent of working Americans believe they will have enough money to live comfortably in their retirement years. We must, therefore, continue to work to ensure that more Americans will have sufficient resources that they need to enjoy what are supposed to be their golden years. There are many reasons why Americans have struggled to have sufficient funds for their retirement.…”