Representatives Watson Coleman and French Hill Propose Federal Savings Accounts for Taxpayers

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by: Bonnie Watson Coleman (D-NJ, 12th)

Washington, D.C. - April 19, 2019 - (The Ponder News) -- Congresswoman Bonnie Watson Coleman (D-NJ) and Congressman French Hill (R-AR) announced the introduction of legislation that would allow taxpayers the option to defer a portion of their taxes into an account that earns interest for six months. The bill, The Refund to Rainy Day Savings Act, seeks to give more families the flexibility to handle minor emergencies.

“For too many families, a blown tire, a burst pipe, or even a few days off with the flu result in hard financial decisions — whether to risk your credit score by skipping a payment, miss the month’s rent or mortgage payments, or even pass on needed healthcare,” said Watson Coleman. “Since my first term, I have worked to get more families out of this hole, and the Refund to Rainy Day Savings Act would do just that. Working Americans are living on the brink. We have to find solutions that will give them a stronger financial footing.”

“We have a savings crisis in America,” said Hill. “In order to change the culture of saving money in states like Arkansas, innovative opportunities are needed to make it easier for Americans to build up savings for unexpected expenses. The Refund to Rainy Day Savings Act is a unique and inexpensive solution that can put low-income earners, who may have never saved money before, on the path to financial stability. Giving hardworking families the option to save will unleash more economic prosperity.”

The Refund to Rainy Day Savings Act would allow tax filers receiving a refund via direct deposit to defer up to 20 percent of their refund to a Treasury-held account to accumulate interest. After six months, the refund, plus interest earned, would be transferred to the direct deposit account, encouraging more people to set aside emergency savings.

The bill also creates a pilot program to evaluate matches for low-income tax filers, redeploying the existing Assets for Independence match program with expanded flexibility to allow localities to identify best practices without increasing federal funding.

Last year, the federal Economic Well-Being of U.S. Households report found that 40 percent of Americans couldn’t cover an unexpected expense greater than $400 — an improvement on the same statistic from 2013. The Refund to Rainy Day Savings Act, a companion to legislation introduced by Senators Cory Booker (D-NJ), Doug Jones (D-AL), Tom Cotton (R-AR) and Todd Young (R-IN), would strengthen the financial foundation of these families.

To see the text of the bill, click here.

Secretary Shulkin’s taxpayer-funded European vacation

Source: American Federation of Government Employees

American Federation of Government Employees National President J. David Cox Sr. released the following statement in response to a Washington Post report regarding Veterans Affairs Secretary David Shulkin’s travel expenses:

“Veterans Affairs Secretary David Shulkin should be ashamed of himself for traveling to Europe with his wife at taxpayers’ expense – especially as the VA grapples with funding shortfalls that undermine veterans’ care.

“Mr. Shulkin needs to explain to veterans who are waiting for doctors’ appointments how attending a Wimbledon tennis match, touring Westminster Abbey, and cruising along the River Thames with his wife helped them get treated faster.

“He also needs to explain to VA employees, many of whom are veterans, why he ordered a crackdown on their travel just two weeks before going on his taxpayer-funded European vacation. With 49,000 staffing vacancies to fill, our nation’s veterans and the Veterans Affairs staff deserve to know how Secretary Shulkin intends on improving services at the VA.

“President Trump came to Washington with a promise to drain the swamp. He needs to start by holding his own Cabinet officials accountable to the public they serve.”

REPS. O’HALLERAN, SCHRADER INTRODUCE BILL TO END GOVERNMENT TRAVEL ABUSE

Washington, D.C. - October 3, 2017 - (The Ponder News) -- Reps. Tom O’Halleran (AZ-01) and Kurt Schrader (OR-05) introduced the Taxpayers Don’t Incur Meaningless Expenses (Taxpayers DIME) Act, which ensures no taxpayer money is spent on government air travel that violates rules applied to senior federal officials, increases transparency and oversight of government travel, and calls for the independent Office of Government Ethics (OGE) to report on ways to strengthen existing rules.

“Taxpayers are rightfully outraged by the disturbing practice of government officials wasting their hard-earned dollars on government and private jets to travel the country. It is time to put an end to this,” said Rep. O’Halleran. “The Taxpayers DIME Act strengthens rules against wasteful government spending and brings greater transparency to how agency resources for government travel are used or abused. Those who serve the American people, regardless of political affiliation, must be held to the highest ethical standard, and I will continue pushing for greater transparency and accountability in Washington.”

"There's often a running, mostly false narrative that Washington doesn't play by its own rules. When we see federal officials jet around the country on taxpayer dollars, the skepticism only deepens," said Rep. Kurt Schrader. "Our Taxpayers DIME Act ensures that public servants are transparent and fiscally responsible in their air travel spending, and it will hold those who aren't accountable. We're here to serve our neighbors back at home, not lavish their hard-earned dollars on personal luxury. If that's too much to ask, then go home -- and fly commercial."

The Federal Travel Regulations (FTR) outline the rules applicable to senior federal officials and agencies for requesting, approving, and using government aircraft for official and non-official travel. However, reports of Cabinet officials inappropriately requesting or utilizing government aircraft demonstrate a violation of the spirit of the FTR, which state clearly that “Taxpayers should pay no more than necessary for [officials’] travel”.

O’Halleran and Schrader co-chair the Blue Dog Coalition’s Task Force on Government Reform and Accountability. The group is responsible for monitoring regulations issued by the federal government and analyzing rules to ensure Congressional intent is appropriately applied.