Political Quotes

“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 taxpayer's retirement savings account. This bill would offer matching contributions for the first time to millions of middle and low 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 workers in my home State of Oregon under the OregonSaves program. 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 establish a coronavirus bonus recovery credit that would provide an additional government match of up to $5,000 to workers on their retirement saving for a five year period. I urge my colleagues to support this legislation. ______ By Mr. PADILLA (for himself, Mrs. Feinstein, and Mr. Ossoff): S. 2454.…”