Political Quotes

“I appreciate the chairman's courtesy for permitting me to speak on this issue and his leadership on an issue that concerns us all. We are facing a retirement crisis in this country. Too many people do not have adequate resources. The aging population is exploding, and we have seen financial uncertainty in the midst of the COVID crisis, in particular. I am pleased that we are able to come together as a Congress on a bipartisan basis to advance this legislation. Recently, we watched people come together dealing with trade relations with Russia, ratcheting up sanctions on a bipartisan basis, and this is another strong signal, I think. I also appreciate Chairman Neal for his leadership in spearheading the SECURE 2.0 which takes the Oregon auto-enrollment model to the Federal level and provides new incentives to promote and expand employee stock ownership plans, ESOPs. I have long supported ESOPs as a successful model that provides a company's workers with retirement savings through their investment in their employee stock. I have been stunned at the stories I have heard about people who have what one would think are unexceptional jobs who, through this mechanism, have been able to retire with significant savings as a result. Now, by giving employees skin in the game, the ESOP structure produces employees that are more likely to set aside money for retirement. They can retire earlier and worry less about retirement income.…”