Michigan is a State that builds things. We invented the auto industry and created a new era of manufacturing. My State saw the American labor movement grow and fight to deliver the 40- hour workweek and safe workplace conditions. In Michigan, we work hard, and after a lifetime of hard work, we expect to be able to retire with dignity. The American dream can mean different things to different people, but I believe there are some universal elements. We all want our children to prosper and see more opportunity than we have had. While we all need to have a secure retirement, we dream of passing on to the next generation--whether it is a small business or a family farm, a home with the mortgage paid off, or a nest egg that has been built up over many decades. I fear this piece of the American dream--the ability to enjoy a comfortable retirement on the strength of your lifetime earnings--is slipping further and further away for increasing numbers of Americans. The measures we are considering this week, which would repeal the Department of Labor's safe harbor for States and municipalities developing retirement plans, would be a step backwards. Generations ago, Congress heard the American people and agreed that it was simply unacceptable for retired and elderly Americans to live in poverty. The solution that followed was Social Security, perhaps the most effective anti-poverty program ever created. Today, we must meet that challenge once again.…
On the recordMarch 29, 2017
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