Political Quotes

“I rise in opposition to the Congressional Review Act measure to overturn the Department of Labor's rule that gives States the flexibility to help small business workers save for retirement. Every American who has worked hard throughout their life deserves the ability to retire, knowing that they will be financially secure. But it is clear that we are on the verge of a retirement crisis. More and more Americans are retiring every day without the economic security they need, and we are beginning to see the harmful impacts of what happens to a generation that was not afforded the opportunity to participate in a traditional pension plan. The AARP has estimated that 55 million Americans, including roughly 230,000 Granite Staters, do not have access to a retirement plan at their workplace, and participation in retirement plans has dropped over the past several years. Few low- and middle-income families have retirement accounts. For families who fall into the lowest 25 percent of household incomes, fewer than 10 percent have retirement savings accounts. Even among families where the primary wage earners are between the ages of 56 and 61, those who are nearing retirement, the median retirement account balance for all families, regardless of income, was only $17,000--far less than what those families will need to live on in retirement. Therefore, we should be doing everything possible to support these future retirees and to look for opportunities to help them save now.…”