Political Quotes

“I thank the gentlewoman for yielding. I would also like to thank Chair Capito and Ranking Member Meeks, as well as Chairman Hensarling and Ranking Member Waters, for their efforts to move the American Savings Promotion Act to the floor of the House today. Mr. Speaker, my legislation would remove Federal barriers that today prevent some financial institutions from being able to offer innovative financial products, known as prize-linked savings accounts. These safe, regulated financial products are designed to make savings fun. The more you save, the more chances you have to win. As a Dire Straits fan, I called this idea the ``Money for Nothing'' concept. If you make deposits, you get more chances to win, and even if you don't win, you get to keep the money you saved. Many families understand the importance of saving money to help them manage expected costs like college or retirement and unexpected costs that they might face, whether it is a trip to the emergency room or repairing their cars, but we know too many Americans struggle to set aside a little bit of cash every month. Nearly a quarter of Americans report they wouldn't be able to come up with at least $2,000 in 30 days. Another 19 percent said they could, but they would have to begin pawning or selling their possessions or taking out payday loans.…”