Senator Cantwell press statement on tax reform impact on retirement savings

Senator Maria Cantwell says at a press briefing with Senate Democrats to attack Republican tax reform plans that according to the New America Foundation 92 percent of Americans are not meeting their retirement savings target which results in a shortfall of $14 trillion, a lack that will put additional strain on government programs from Social Security to Medicare, that 55 million Americans use 401(k) retirement plans, that 2008 reforms encouraged retirement savings in a bill that bailed out the biggest banks, that Republican plans to tax 401(k) plans by limiting tax-free contributions will make it harder for people to save and instead tax working people to pay for tax cuts for huge corporations.
Senator Maria Cantwell says at a press briefing with Senate Democrats to attack Republican tax reform plans that according to the New America Foundation 92 percent of Americans are not meeting their retirement savings target which results in a shortfall of $14 trillion, a lack that will put additional strain on government programs from Social Security to Medicare, that 55 million Americans use 401(k) retirement plans, that 2008 reforms encouraged retirement savings in a bill that bailed out the biggest banks, that Republican plans to tax 401(k) plans by limiting tax-free contributions will make it harder for people to save and instead tax working people to pay for tax cuts for huge corporations.
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Restrictions:
May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing, or cast discredit on or dishonour any member of the United States House of Representatives or US Senate, or bring the House or Senate or any Member into disrepute.Editorial Use only. May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office, and may not be used to distort the objects and purposes of the hearing or cast discredit or dishonor any member of the House or bring the House or any Member into disrepute.
Credit:
FedNet / Getty Images
Editorial #:
869004566
Collection:
FedNet
Date created:
30 October, 2017
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Licence type:
Rights-ready
Release info:
Not released. More information
Clip length:
00:02:11:27
Location:
Washington, DC, United States
Mastered to:
QuickTime 8-bit H.264 HD 1280x720 30p
Source:
FedNet
Object name:
spr103117a-d.mov