Political Quotes

“Mr. President, ensuring that more Americans are better prepared financially for their retirement is one of my top priorities. That is why I rise to reintroduce with my colleague, Senator Nelson, the Retirement Security Act of 2017. Our bill would encourage more small employers to offer retirement plans, provide incentives for employees to save more for retirement, and make it easier for low- and middle-income taxpayers to claim tax benefits for retirement savings already authorized in law. According to the non-partisan Center for Retirement Research, there is an estimated $7.7 trillion gap between the savings American households need to maintain their standard of living in retirement and what they actually have. A recent Gallup poll found that only 54 percent of working Americans believe that they will have enough money to live comfortably in retirement. We must continue to work to ensure that more Americans will have the resources they need to enjoy their ``golden years.'' The Social Security Administration's most recent report noted that 61 percent of all beneficiaries rely on Social Security for more than half of their income. Many seniors in my State rely almost entirely on Social Security to cover their monthly expenses, despite the fact that the average annual benefit is only about $16,000 per year. It is hard to imagine stretching those dollars far enough to pay the bills-- certainly a ``comfortable retirement'' is out of the question.…”