Kevin Brady: “I join others in congratulating the bipartisan authors of this bill, the gentleman from Ohio (Mr. Portman) and the…”

“I join others in congratulating the bipartisan authors of this bill, the gentleman from Ohio (Mr. Portman) and the gentleman from Maryland (Mr. Cardin), because we make saving so difficult in this country. Every one of us knows that to have a good, safe retirement, we have to have a three-legged stool: Social Security that you can count on, personal savings in the bank, and a retirement plan at work. President Bush has signaled today that he is dead serious about preserving Social Security once and for all. The timing of this bill could not be better because we are trying to address the other two legs of that stool: personal savings and retirement plans at work. Some people call this tax relief. I disagree. I do not know why we tax people at all for savings. I think we ought to encourage them to save for their retirement, for education, for college, for health care. This is merely Washington getting out of the way and allowing people to put money aside.”