Fiscal Responsibility

Floor Speech

Mr. SMITH of Nebraska. Thank you, Mr. Speaker.

Yesterday, the Savings Recovery Act, legislation designed to help Americans rebuild their retirement, college and personal savings, was introduced. This legislation will make it easier for Americans to save more for their retirement by increasing the contribution and catch-up limits for individuals and families. It will restore college savings by extending the existing credit for contributions made to college savings accounts. The Savings Recovery Act will ensure workers retain control over their hard-earned 401(k)s, not the Federal Government.

Mr. Speaker, the American people need more than just lip service when it comes to their futures. They need real solutions, solutions which come from empowering the public, not from racking up more debt.

I urge my colleagues to support the Savings Recovery Act.

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