Political Quotes

“Mr. President, today I have introduced the Encouraging Americans to Save Act (EASA). This legislation makes common sense reforms to the saver's tax credit by making the credit refundable and restructuring it as a government matching contribution that is directly deposited into a worker's retirement savings account. This bill would offer matching contributions for the first time to millions of middle and lower income individuals not covered by an employer-sponsored retirement plan, including those who save through an IRA under a State or local government savings program--such as OregonSaves. The government match is also available to middle and lower income savers who participate in an employer-sponsored plan. The government match provided by the bill would both encourage saving and help middle and low income earners build assets by providing an immediate, meaningful return on their personal contributions. The legislation would also require the Treasury Department to reestablish the Obama administration's MyRA program, as IRAs established under that program would serve as the default account to hold government matching contributions in case a saver's retirement plan or IRA is unable to accept the government matching contribution. I urge my colleagues to support this legislation. ______”