Yesterday, Senator Barack Obama was out on the campaign trail talking about economic security and he echoed his support for automatic IRAs. Not enough candidates are talking about what they can do to help American families build lifetime economic security; after all a key component to saving is saving at work and today 75 million people (too many) are not able to do this.
These two don’t have to be the only ones – the nine Democratic and Republican candidates who currently serve in Congress have a chance to show Americans they are committed to helping them save by co-sponsoring the Automatic IRA Act of 2007 (S. 1141 and H.R. 2167).
Also, today the House Education and Labor Committee is having a hearing on the very same topic, so hopefully it will gain more traction. By allowing people to save at work, almost two thirds of those I just talked about could get on the savings train.
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