On the recordSeptember 27, 2018
You would think it would be a bipartisan thing to start saving early. We think starting to save early is a good thing. This amendment simplifies it for families. Right now, when you learn those magic words, ``We are pregnant,'' and you want to begin saving, we actually force families to set up an account for someone else and then later they transfer it to the child after birth. All this does is eliminate that extra step, reduces the paperwork, and makes savings for family and that new addition, whether it is by birth or by adoption, in our case, it makes it easier to do. The savings bill by Mr. Kelly for the first time allows families who welcome that new child to access their retirement if there are extra medical costs, or if your child has special needs and needs new equipment, or if you want to simply stay home sometime with your family. Maybe the business you work for can't afford to pay you. For the first time, millions of American families will have a Tax Code that works for their young family, not against them. Mr. Speaker, you would think that would be supported by both parties. I urge Members of Congress to set aside this silly partisanship and join together to help families save more.
