Bill Pascrell: “After years and years of prior Congresses thinking that tax policy was giving cuts to the rich, this bill uses our Tax…”

“After years and years of prior Congresses thinking that tax policy was giving cuts to the rich, this bill uses our Tax Code for some good. As the gentleman, my good friend from Pennsylvania, just said, we can work together, we can walk and chew gum at the same time, we can have oversight and have issues come up, and we join together for the American people. Whoever thinks otherwise doesn't know history and is not reading the papers every day. Retirement should be about one thing: security. If you have spent your life working your tail off, you have the right to be able to relax without fear. But, today, millions of Americans--millions--are afraid they are entering or are in retirement and don't have the resources they need to live. Many live on a Social Security check. They struggle to enjoy their best years. Employees deserve benefits, and employers need incentives to provide them. This legislation does both. It provides flexibility to 401(k)s to give employees and small businesses better access; it creates a tax credit for employers; and it creates a tax credit for employers that build automatic enrollment plans. The SPEAKER pro tempore. The time of the gentleman has expired.”