Showing posts with label retirement. Show all posts
Showing posts with label retirement. Show all posts

Thursday, March 28, 2019

Bill to Help Americans Save for Retirement Introduced

by: Vern Buchanan (R-FL, 16th)

Washington, D.C. - March 28, 2019 - (The Ponder News) -- Congressmen Vern Buchanan (R-Fla.) and Ron Kind (D-Wis.) has reintroduced their bipartisan legislation to help Americans save for retirement.

“Unfortunately, too many hardworking Americans enter retirement without adequate savings,” Buchanan said. “It is imperative we provide as many resources as possible to help folks prepare for their golden years and invest in their future.”

According to USA Today, the average American has less than $4,000 in savings while nearly 60 percent of adults have less than $1,000 to their names.

The Retirement Security for American Workers Act would make it easier and less costly for small businesses to set up and offer retirement benefits to employees. Specifically, the legislation allows businesses join together in “multiple employer plans” (MEPs) to share the administrative burden and costs of offering a retirement plan.

Incredibly, up to 35 percent of private-sector workers over the age of 22 work for a company that doesn’t offer a retirement plan, while over 40 percent of millennials didn't have access to an employer-sponsored retirement plan, according to the Pew Charitable Trusts.

Millions of American employees stand to benefit from expanding the availability of workplace retirement plans. In fact, the AARP has found that workers are 15 times more likely to save when they have access to a retirement plan.

“The American people need improved access to retirement savings,” Buchanan continued. “Congress should approve this bipartisan legislation and help retirees reach a stronger state of financial stability.”

Buchanan represents over 220,000 Social Security recipients in the nation’s eighth-oldest congressional district.

Buchanan and Kind previously introduced the bill in the 114th and 115th Congresses.

Thursday, February 15, 2018

Housing, Shooting, Opioid, Medicaid, Retirement, Tax Reform, White House Security, Dreamers, Farmers, China, Budget, STEM, Infrastructure, Veterans, North Korea

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News from the Lawmakers



Reed Lauds Independent Effort by Federal Housing Finance Agency Director to Preserve Needed Funding Program for Affordable Rental Housing
Senator Jack Reed (D - RI)
February 14, 2018
I thank the Federal Housing Finance Agency for exercising its independent authority pursuant to the 2008 Housing and Economic Recovery Act to continue funding the Housing Trust Fund and Capital Magnet Fund.

Read more...



Rubio Statement on Broward County School Shooting
Senator Marco Rubio (R - FL)
February 14, 2018
“A mass shooting at one of Florida’s schools is a day you pray will never come. Jeanette and I are devastated and saddened by today’s inexplicable tragedy at Broward County’s Marjory Stoneman Douglas High School. We join millions of Americans in praying for the victims, their families and all the students and teachers impacted by today’s events. We are grateful to the emergency responders, law enforcement officials, nurses and doctors who assisted the victims of today’s tragedy. Over the next few hours and days we will learn more about why and how this killer carried out this carnage. My office and I remain ready to assist state and local officials and anyone impacted by this horrible tragedy.”

Read more...



RASKIN, NADLER LEAD JUDICIARY DEMOCRATS IN DEMANDING REAL HEARINGS ON OPIOID CRISIS
Jamie Raskin (D-MD, 8th)
February 14, 2018
Ahead of House Judiciary Republicans’ politically divisive Immigration and Border Security Subcommittee hearing entitled “The Effect of Sanctuary City Policies on the Ability to Combat the Opioid Epidemic,” House Judiciary Committee Ranking Member Jerrold Nadler (D-NY), Vice Ranking Member Jamie Raskin (D-MD), and eight other House Judiciary Democrats sent a letter to Chairman Bob Goodlatte, urging him to hold a real hearing to appropriately examine the ongoing opioid epidemic in America.

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REP. RASKIN URGES TRUMP ADMINISTRATION TO RECONSIDER UNLAWFUL MEDICAID WORK REQUIREMENTS
Jamie Raskin (D-MD, 8th)
February 14, 2018
Congressman Jamie Raskin (MD-08) sent a letter to Secretary of Health and Human Services (HHS) Alex Azar today expressing his opposition to the Trump Administration’s actions that will allow, for the first time in the history of the Medicaid program, a work requirement as a condition of coverage. Rep. Raskin is deeply concerned that linking health coverage to a work requirement will undermine access to health care, and contradict the plain text and purpose of the law. Raskin joined 172 members on the letter to Azar.

Read more...



Roe, Norcross Introduce Bipartisan GROW Act to Give Retirement Options to Workers
Phil Roe (R-TN, 1st)
February 14, 2018
The bipartisan GROW Act will safeguard the multiemployer pension plan system by authorizing the creation of a new type of retirement option that combines the key features of defined benefit and defined contribution plans.

Read more...



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Report from Washington: Bigger Paychecks and Bonuses Across East Alabama
Mike Rogers (R-AL, 3rd)
February 14, 2018
After over 30 years of working under an outdated tax code, local businesses and folks across East Alabama and the entire country, are feeling the benefits of the Tax Cuts and Jobs Act.

Read more...



Rokita Introduces CRUMBS Act, Maximizing Tax Reform Bonuses
Todd Rokita (R-IN, 4th)
February 14, 2018
Congressman Todd Rokita introduced the "Creating Real and Useful Middle-Class Benefits and Savings" (CRUMBS) Act to make bonuses received in 2018 tax-free up to $2,500 to help lower and middle-class families. The legislation follows the passage of President Trump's tax reform, which has led to millions of Americans receiving bonuses, pay raises, and increased benefits.

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RUPPERSBERGER QUESTIONS DNI ON WHITE HOUSE SECURITY CLEARANCES
Dutch Ruppersberger (D-MD, 2nd)
February 14, 2018
Congressman C.A. Dutch Ruppersberger today questioned why advisers to President Trump without full security clearances have been given access to highly classified documents. The former Ranking Member of the House Intelligence Committee and Member of the Gang of Eight sent a letter to Director Of National Intelligence Dan Coats to get answers.

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Reed: Trump Broke Protections for Dreamers, Time for U.S. Senate to Fix It
Senator Jack Reed (D - RI)
February 13, 2018
U.S. Senator Jack Reed is urging his Senate colleagues to come together and pass the bipartisan DREAM Act, which would allow young immigrants who have worked, studied, and served in the Armed Forces to earn lawful permanent residence and provide them with a path to American citizenship. These young people, known as Dreamers, were brought here through no fault of their own, have lived in America since they were children, built their lives here, and are American in every way except for their immigration status.

Read more...



Fair Agricultural Reporting Method (FARM) Act Introduced in the Senate
Senator Mike Rounds (R-SD)
February 13, 2018
U.S. Sen. Mike Rounds (R-S.D.), a member of the Senate Committee on Environment and Public Works, along with seven of his Senate colleagues introduced the Fair Agricultural Reporting Method (FARM) Act. The bipartisan bill would protect farmers, ranchers and livestock markets from burdensome Environmental Protection Agency (EPA) reporting requirements for animal waste emissions. These requirements were not intended to affect animal agriculture and instead were meant to address dangerous industrial pollution, chemical plant explosions and the release of hazardous materials into the environment.

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VIDEO: Rubio Raises Concerns About the Growing Threat Posed by China
Senator Marco Rubio (R - FL)
February 13, 2018
At a Senate Select Committee on Intelligence hearing today, U.S. Senator Marco Rubio (R-FL) highlighted the threat posed by China’s growing influence, including their long-term multi-faceted strategy to supplant the United States internationally, and raised these concerns with Director of National Intelligence (DNI) Dan Coats and Federal Bureau of Investigation (FBI) Director Michael Wray.

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House Passes Reichert Bill to Bring Tariff Relief to American Businesses
David G. Reichert (R-WA, 8th)
February 13, 2018
Representative Dave Reichert (R-WA) led debate on the House floor on H.R. 4979, a bill to extend the Generalized System of Preferences (GSP) and to make technical changes to the competitive need limitations provisions of the program. The bill passed the House by a vote of 400-2.

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Reichert Statement on President's FY 2019 Budget
David G. Reichert (R-WA, 8th)
February 13, 2018
“I am pleased that the President’s budget request highlights the need to strengthen our military, meet our nation’s infrastructure needs, address our national parks’ maintenance backlog, conduct life-saving medical research at the National Institutes of Health, and fight the opioid crisis," said Rep. Reichert.

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ROSEN’S BIPARTISAN STEM BILLS PASS THE HOUSE OF REPRESENTATIVES
Jacky Rosen (D-NV, 3rd)
February 13, 2018
Congresswoman Jacky Rosen (NV-03) announced that two bipartisan bills she introduced this Congress to improve STEM education unanimously passed the House of Representatives as one combined bill. The Building Blocks of STEM Act, H.R. 3397, directs the National Science Foundation to more equitably allocate funding for research in the Discovery Research PreK-12 (DRK-12) program to studies with a focus on early childhood. The Code Like a Girl Act, H.R. 3316, creates two National Science Foundation grants to research and fund computer science programs that encourage early childhood education in STEM for girls under the age of 11. The combined bill is now awaiting action in the U.S. Senate.

Read more...



RUPPERSBERGER, HULTGREN INTRODUCE BIPARTISAN INFRASTRUCTURE LEGISLATION
Dutch Ruppersberger (D-MD, 2nd)
February 13, 2018
U.S. Representatives Congressman C.A. Dutch Ruppersberger and Randy Hultgren introduced legislation to help state and local governments take advantage of low interest rates to build essential infrastructure projects. The bill restores the tax exemption for advance refunding bonds that was repealed by the Tax Cuts and Jobs Act passed by Congress in December.

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Reed Warns President Trump’s Budget Would Be a Major Disaster for American People & U.S. Economy
Senator Jack Reed (D - RI)
February 12, 2018
This budget blueprint is a disaster. The Trump Administration is using the same phony accounting it did when it claimed that a $1.5 trillion tax bill would pay for itself or that Mexico would pay to build a border wall.

Read more...



Senators Urge VA to Reimburse Veterans for Their Emergency Treatment Claims Before Recent Court Decision
Senator Mike Rounds (R-SD)
February 12, 2018
U.S. Sens. Mike Rounds (R-S.D.), a member of the Senate Veterans’ Affairs Committee, along with 11 of his Senate colleagues, today sent a letter to Department of Veterans Affairs (VA) Secretary David Shulkin to request that the VA reimburse veterans who were billed for emergency treatment at private hospitals.

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Rubio Statement on Trump Administration's Budget, Infrastructure Proposals
Senator Marco Rubio (R - FL)
February 12, 2018
"While it is Congress that funds the nation’s policy priorities, I am encouraged to see the President’s budget also support efforts to strengthen border security, combat the opioid epidemic, rebuild our military and improve health services for veterans.

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QUIGLEY STATEMENT ON PRESIDENT TRUMP'S FISCAL YEAR 2019 BUDGET
Mike Quigley (D-IL, 5th)
February 12, 2018
President Trump’s Fiscal Year 2019 budget proposal is as ludicrous as it is disturbing. After drastically increasing our unsustainable debt by adding $1.5 trillion in unpaid tax cuts for the wealthy, the president is doubling down on failed, far-right policies that slash Medicare, Medicaid, and a number of anti-poverty programs for the most vulnerable amongst us. With at least a half trillion in proposed cuts to Medicare and $250 billion stolen from Medicaid, President Trump has yet again turned his back on hardworking Americans and his dishonest pledge to preserve entitlement programs.

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Rep. Rice Statement on President Trump’s Infrastructure Plan
Tom Rice (R-SC, 7th)
February 12, 2018
In 1991, Congress designated I-73 as a high priority project. This morning, President Trump released his infrastructure framework that I believe will finally get this project off the ground. President Trump called on Congress to draft a comprehensive infrastructure bill that will stimulate at least $1.5 trillion in new investment over the next 10 years, shorten the process for approving projects, address unmet rural infrastructure needs, empower State and local authorities, and train the American workforce of the future. There are too many regulatory barriers preventing essential infrastructure projects from moving forward, a prime example being I-73. The permitting process for I-73 began in 2004, and due to the inefficient environmental review process we just received permits over the summer. I stand ready to work on legislation that will cut through this red tape and unleash economic prosperity through critical infrastructure investment. Delivering on the Administration’s legislative framework will help build a stronger America, and I intend to take this opportunity to invest in a stronger South Carolina.

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Rogers: Liberal Media Elite Glamorizing North Korea
Mike Rogers (R-AL, 3rd)
February 12, 2018
“What the liberal media elite like CNN and The New York Times has done is sickening to me. Her brother Kim Jong-un is a murderer and his regime in its brutality forces its people to live a Stone Age existence. He threatens the world with nuclear war, starves the people in his own country and tortured American student Otto Warmbier to the point that he passed away once he was returned to the United States. Kim Yo Jong is not only a part of that cruel family, but is a part of the brutal regime. Nothing should be romanticized about her as she is an enemy,” Rogers said.

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Congressman Rogers' Statement on President Trump's Proposed Budget for 2019
Harold Rogers (R-KY, 5th)
February 12, 2018
"President Trump’s proposed budget compliments the diligent work of the Bipartisan Budget Act, calling for much-needed boosts to funding for our nation’s military, border security, infrastructure, rural broadband expansion and efforts to combat the nation’s deadly opioid epidemic.

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ROSEN: TRUMP ADMINISTRATION’S BUDGET PROPOSAL FAILS NEVADA’S WORKING FAMILIES
Jacky Rosen (D-NV, 3rd)
February 12, 2018
“Instead of investing in Nevada’s working families, this irresponsible and harmful budget proposal leaves them behind by slashing Medicaid and making deep cuts to Medicare and Social Security, all while adding trillions to our national deficit,” said Rosen. “This budget would rob hundreds of millions from the Southern Nevada Public Lands Management Act program, which helps fund our state’s education system, water authority, and projects that protect and maintain our public lands. It eliminates key programs, such as BrandUSA and the Manufacturing Extension Partnership, which play a vital role supporting Nevada’s economic growth. This budget would also waste millions in taxpayer dollars to try to revive Yucca Mountain, a dangerous and reckless project that would turn Nevada into a dumping ground for nuclear waste. I will continue to fight against this Administration’s efforts to dump nuclear waste in Nevada and work across the aisle on a spending plan that supports our state’s priorities and lifts up working families.”

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Rep. Roybal-Allard Statement on Homeland Security Budget
Lucille Roybal-Allard (D-CA, 40th)
February 12, 2018
“While I support some elements of the DHS budget request, I have strong objections to this budget’s significant increase in funding for interior immigration enforcement. Democrats will not support the continuation of ICE’s aggressive enforcement actions that have increasingly led to the arrest of individuals who pose no threat to our country or our communities, and who have called the United States home for many years or even decades. We should not be tearing these individuals away from their families and their communities. Furthermore, I believe any discussion of border security funding should be part of a larger discussion that includes protections for Dreamers and Temporary Protected Status recipients.”

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Congressman Tim Ryan Statement on President Trump's Budget Proposal
Tim Ryan (D-OH, 13th)
February 12, 2018
“Until just days ago, a Republican Congress and a Republican President spent the first four months of this fiscal year stumbling through five temporary funding bills, utterly failing the most basic duty of Congress – keeping the government open. The idea that the current majority party in the House could follow through on anything even resembling regular order as it relates to setting a budget for the Federal Government is laughable. The only function the President’s budget proposal serves is to remind us how completely out of whack his priorities are for the American people. He would add over $7 trillion dollars to the national deficit over the next decade -- $984 billion in the next year alone, and stick the middle class with the bill. It is a non-starter. I stand ready to get to work with my colleagues on both sides of the aisle on a realistic budget that properly funds our defense and important programs families rely on,” said Congressman Ryan.

Read more...



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Thursday, January 4, 2018

Retirement Savings Left Largely Untouched by Tax Reform

Source: Tax Foundation



While rumors flew around Washington in the fall that the Tax Cuts and Jobs Act would dramatically impact retirement accounts, the plan has made only a few minor modifications. Under the current system, retirement plans are rightly subject to only a single layer of taxation, but they are governed by numerous confusing rules and restrictions. Though some of the new changes ease restrictions, the need to reform the disorganized structure of retirement savings remains.


Read more about this at The Tax Foundation

Tuesday, November 28, 2017

Congressman Cleaver Joins House and Senate Democrats in Sponsoring New Proposal for Retired Workers

Washington, D.C. - November 28, 2017 (The Ponder News) -- Congressman Emanuel Cleaver, II joined Democratic leaders from the House and Senate in sponsoring a new proposal to help pension retirees. The proposed legislation would ensure that retired workers keep the pensions they have earned. Specifically, the legislation would allow the Treasury Department to loan money through the sale of U.S. Treasury bonds to pension plans to ensure that retirees and their families are guaranteed their promised benefits.

“It was time for Congress to act. Millions of pensions are at risk. I listened to thousands of retirees in my district, and across the Midwest, who were worried about their pensions being cut, some by as much as 60 percent. I believe this plan is a practical, common-sense solution that will ensure retirees continue to receive the pensions they have worked for,” said Congressman Cleaver.

Pension plans – including the massive Teamsters’ Central States Pension Fund, the United Mine Workers Pension Plan, and over 200 more plans impacting workers in every state in the country – are on the brink of failure. If nothing is done, these 200 multiemployer plans are projected to fail, many within the next 10 years. The result would be economically devastating, as the retirement benefits of 1.5 million plan participants could be at risk.

Congressman Cleaver has been working on behalf of retirees on this issue since 2015 when over 800 retirees began contacting his office.

“In my district alone, there will be over 3,500 people affected. For the state of Missouri, an estimated 32,000 people are impacted with a total of $3 billion dollars’ worth of pensions,” said Congressman Cleaver.

The proposal would:

• Provide financing to put failing pension plans back on solid ground to ensure they can meet their commitments to retirees today and to workers for decades to come.

• Prevent cuts to benefits retirees have already earned.

• Put safeguards in place so pension plans remain strong for today's workers when they retire.

In 2016, Congressman Emanuel Cleaver held a town hall meeting for retired workers who are affected by the massive cuts to the Central States Pension Fund (CSPF) and led efforts to bring the U.S. Treasury Department’s Special Master, Kenneth Feinberg, to hear their concerns about the proposed steep cuts to the Central States Pension Fund. Over 1,500 people showed up at the Downtown Convention Center in Kansas City, Missouri to share their concerns, regarding the implementation of the Kline-Miller Act.

This year, Congressman Cleaver sent a letter, which can be found here, to President Donald Trump to address the crisis involving multi-employer pensions and in 2016 Congressman Cleaver sent a letter to the Department of Justice requesting a formal investigation into the management of the Central States Pension Fund to determine if there was any fraudulent or mishandling of funds. He also joined other U.S. House members in requesting a full accounting of the CSPF by the Government Accountability Office (GAO). That study is currently ongoing.

“It’s time to protect the promise we made to retirees. Protect their pensions,” said Congressman Cleaver.

Emanuel Cleaver, II is the U.S. Representative for Missouri’s Fifth Congressional District, which includes Kansas City, Independence, Lee’s Summit, Raytown, Grandview, Sugar Creek, Blue Springs, Grain Valley, Oak Grove, North Kansas City, Gladstone, Claycomo, and all of Ray, Lafayette, and Saline Counties. He is a member of the exclusive House Financial Services Committee, the Ranking Member of the Subcommittee on Housing and Insurance, and also a Senior Whip of the Democratic Caucus.

See more headlines at The Ponder News Web Site

Labor Department’s Fiduciary Rule Delay Met With Opposition

Washington, D.C. - November 28, 2017 (The Ponder News) -- Department of Labor (DOL) issued a final rule extending the applicability of the full protections of the conflict of interest (fiduciary) rule by a full year and a half, from January 1, 2018 to July 1, 2019. The fiduciary rule was initially set to take effect in April 2017, but was delayed following a directive by President Trump early in the year. After examining the rule, Labor Secretary Alexander Acosta announced in May that the rule would not be delayed further and would take effect in January 2018. This announcement means the rule – which was originally announced in 2015 – will not be implemented until July 2019.

The Save Our Retirement (SOR) coalition issued the following statement in response:

“This action is effectively a repeal of the fiduciary rule’s most critical provisions – the provisions that ensure the rule is effective and enforceable and that financial advisers and their firms are accountable for providing the best interest advice retirement savers both want and need. DOL claims it is simply delaying the full implementation and enforcement of the fiduciary rule by 18 months, but delay implies these provisions will become applicable in the near future. However, the Trump Administration has made clear its goal is that these most critical provisions never become applicable. Instead, the Administration’s intent is to use this time to permanently dismantle key elements of the rule.

“The Trump Administration’s actions prove that it is far less interested in protecting investors from the harmful effects of conflicts of interest than it is in catering to Wall Street interests. This rule is only as strong as its ability to be enforced. By stripping out the rule’s private enforcement mechanism, and by stating that the Department won’t enforce the rule, the DOL has rendered the rule toothless. This is exactly what the industry rule opponents wanted – a best interest in name only standard that leaves the broker-dealer, insurance, and mutual fund industry free to continue draining retirement savers’ hard-earned money with impunity. This outcome is especially troubling, since many firms in the adviser industry have embraced the rule and were fully prepared to comply by January 1st.”

U.S. Senator Cory Booker (D-NJ) also commented, “Today’s decision means that those financial advisors more concerned with their bottom line than with helping customers will now have 18 more months to ignore new consumer-friendly rules that protect Americans’ retirement savings from bad investment advice and hidden fees. This new delay is on top of a six-month delay in enforcement of the conflict of interest rule announced earlier this year.

“Enough is enough. It’s time to finally enforce these rules and ensure that every financial advisor prioritizes their clients' interests over their own.”

Senator Booker has been a leading voice in the effort to implement the consumer safeguard. In February 2015, he joined President Obama and Senator Elizabeth Warren at AARP’s headquarters to announce the new rule and the enormous impact it would have on families saving for retirement. When it was signaled earlier this year that the rule might be scrapped, Booker publicly pressured the Labor Department for months, sending several letters to the Labor Secretary and penning an op-ed with Senator Warren explaining why the rule was so important to Americans saving for retirement.

See more headlines at The Ponder News Web Site

Monday, October 30, 2017

Retirement Plan Modernization Act Introduced in the House

Source: Tim Walberg (R-MI, 7th)

Tmart Deals & Free Shipping

Washington, D.C. - October 30, 2017 (The Ponder News) -- U.S. Congressmen Tim Walberg (MI-07) and Gregorio Kilili Camacho Sablan (MP-00) introduced the Retirement Plan Modernization Act, bipartisan legislation to help make it easier for small businesses to offer retirement plans while keeping fees down for employees. H.R. 4158 helps small businesses better manage the administrative expenses of retirement plans by providing a long-overdue update to the automatic IRA rollover limit for former employees’ assets.

“Far too many families in Michigan are struggling to save for their retirement years,” said Congressman Walberg. “Often businesses will cite not having enough resources to administer a plan, as a key reason for not offering retirement benefits. This bipartisan bill is a commonsense step in our efforts to empower every American to retire with financial security and peace of mind. By reducing administrative costs, we can help more small businesses offer retirement benefits and ensure employees are not needlessly stuck paying higher fees.”

“Our legislation reduces administrative costs in retirement plans for active employees and updates a two decade old standard for automatic rollovers,” said Congressman Sablan. “Chairman Walberg and I continue to work together to find bipartisan agreement on practical fixes like this that benefit employers and employees throughout America.”

“The Chamber thanks Chairman Walberg and Ranking Member Sablan for introducing the bipartisan Retirement Plan Modernization Act. Increasing the cash-out limit is long overdue. It has not been touched in 19 years and is not subject to indexing, unlike many other limits in the retirement system. Updating both of these flaws will streamline retirement plan administration and reduce burdens for employers, especially small businesses,” said Randy Johnson, Senior Vice President of Labor, Immigration, and Employee Benefits at the U.S. Chamber of Commerce.

“Increasing the threshold for employers to cash-out retirement plan accounts brings us into the 21st century and reduces administrative expenses which in turn makes it easier for employers to maintain retirement plans and for employees to keep their retirement assets with them as they move jobs,” said Lynn Dudley, Senior Vice President, Global Retirement and Compensation Policy at the American Benefits Council.

Under current law, automatic IRA rollovers occur if a participant is no longer employed by the employer sponsoring the retirement plan and their balance is between $1,000 and $5,000. Congress has periodically adjusted the cash-out limit over the years to reflect increasing costs of administration; however, the last time it was updated was 1997. The Retirement Plan Modernization Act would raise the automatic IRA rollover limit, based on the rate of inflation, from $5,000 to $7,600 and allow for future increases to be indexed for inflation.

Congressman Walberg serves as Chairman of the Subcommittee on Health, Employment, Labor, and Pensions while Congressman Sablan serves as Ranking Member of the subcommittee. For more information on Walberg's work in Congress visit walberg.house.gov.

Thursday, October 26, 2017

Senator Jeff Flake Will Not Serve Another Term

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Washington, D.C. - October 26, 2017 (The Ponder News) -- U.S. Senator Jeff Flake - (R - AZ) spoke on the Senate floor announcing that he will be retiring from the Senate at the end of his first term.

“I have decided that I will be better able to represent the people of Arizona and to better serve my country and my conscience by freeing myself from the political considerations that consume far too much bandwidth and would cause me to compromise far too many principles. To that end, I am announcing today that my service in the Senate will conclude at the end of my term in early January 2019,” said Flake.



Charles W. Dent (R-PA, 15th)

"Today's announcement by my friend Senator Jeff Flake is sad news for the people of Arizona, the U.S. Senate and the entire United States. Jeff has always acted according to a clear compass of conservative principles, with recognition and respect for the responsibility to govern. A true statesman and dedicated public servant--Jeff never shied away from speaking out against the dysfunction and instability that has come to dominate Washington. I wish Jeff, his wife Cheryl, and their family all the best in whatever may lie ahead."

Trent Franks (R-AR, 8th)

“In spite of our sometimes stark political differences, I consider Senator Jeff Flake a truly decent human being and a man who loves God, his country and his fellow human beings. I wish him and his family the very best God can give them during his remaining time in the Senate and going forward in life.”

Jeb Hensarling (R-TX, 5th)

“Jeff is a dear friend and someone I worked closely with in the House of Representatives. His commitment to limited government, freedom, responsibility, and genuine compassion for people across the world will not soon be forgotten. Jeff is a strong leader and fiscal conservative who will be missed in Congress. I wish him the best of luck on his next journey.”

Friday, September 29, 2017

News from the House to Ponder

The Ponder News
September 29, 2017

(If you are receiving this via email, you may access all the links at:
http://thepondernews.blogspot.com/2017/09/news-from-house-to-ponder.html )

Tax Reform


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Adams Statement Ahead of Republican Tax Plan Announcement
Alma Adams (D-NC, 12th)

“It’s long overdue that we have a tax code that is fair, balanced, and simple,” said Congresswoman Adams. “American families and small businesses need comprehensive tax reform that provides an opportunity to rebuild the middle class-not another tax cut for the wealthy. True reform will only be possible if both parties have a seat at the table and thus far, Democrats have been shut out of the discussion. I urge my Republican colleagues to begin a bipartisan debate to reform our antiquated tax code today.”
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Allen: Unified Tax Reform Framework will Protect the American Dream
Rick Allen (R-GA, 12th)

“It has been over 30 years since our broken tax code was last reformed, but today, President Trump and the Republican Congress laid out a tax framework that will provide relief for hard-working Americans and jumpstart our economy. Bold reforms will increase paychecks, grow local businesses, and expand our economy in ways that we have not seen in a long time. Our plan will accomplish all of these goals, making the tax code affordable, simple, and competitive. It will allow middle class Americans to keep more of their hard-earned paychecks and level the playing field for American businesses and workers to bring jobs back home. The unified tax reform framework will protect the American dream for families and remove the tax burdens strangling our economy.”
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REP. BACON ISSUES STATEMENT FOLLOWING RELEASE OF TAX REFORM FRAMEWORK
Don Bacon (R-NE, 2nd)

"It's been 31 years since we updated our tax code, and now is the time for tax reform. We propose tax reform that is fair, simple, and helps us compete and win in the global economy. This reform will unleash economic growth, increase employment and will put more money back in the pockets of American families. Each year, taxpayers spend a combined $99 billion and countless hours to file their taxes and they want simplicity. Our businesses currently pay among the highest taxes in the world and it is time we put our businesses on a level playing field, so that our work ethic and innovative spirit wins. Lowering rates while removing loopholes will create fairness amongst businesses.
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BANKS PRAISES GOP TAX REFORM PLAN
Jim Banks (R-IN, 3rd)

“The last time tax reform was passed, I was seven years old and Ronald Reagan was president. Today’s framework is a good first step towards closing loopholes and putting more money in the pockets of Hoosier families. It has been over a decade since our country’s economy has grown by 3%, and this sort of growth is critical to lowering the national debt and balancing the budget. I look forward to working with President Trump and my colleagues in Congress on this important issue.”
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Congressman Bergman’s Statement on Today’s Rollout of the Tax Reform Structure
Jack Bergman (R-MI, 1st)

It’s been over 30 years since our tax code has undergone comprehensive reform. We, the people, are overdue for tax relief. The framework laid out today by the Republican Congress and President Trump is a great first step towards achieving relevant tax reform. This proposal gives working individuals and families in Michigan’s First District a simpler tax code that allows them to keep more of their hard-earned paycheck, and provides small businesses the opportunity to create more jobs and grow a stronger economy.
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Cole Statement on Republican Tax Reform Framework
Tom Cole (R-OK, 4th)

“I was very encouraged by the framework for tax reform that was laid out this morning,” said Cole. “While many details remain to be determined by the legislative process, it offers a positive path forward.”
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Collins Supports Comprehensive Tax Reform Framework
Chris Collins (R-NY, 27th)

“Updating our nation’s tax code will be one of the most important accomplishments we will see under President Trump. The House Republican framework is what will truly make America Great Again by making our country more competitive around the world and allowing families to keep more of what they earn. Lower corporate tax rates and repatriation of dollars that are overseas will directly stimulate investment and job growth in Western New York and around our country. It’s time for Congress to follow President Trump’s lead and fix the broken, outdated tax system that has burdened hard-working individuals and has crushed our economy.”
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Rep. Comstock On Tax Reform Framework
Barbara Comstock (R-VA, 10th)

"...I am also pleased to see an expanded child tax credit included in the framework since it has been over a decade since the child tax credit was last expanded. I have introduced H.R. 383, the Expanded Child Tax Credit Act which would double the current tax credit from $1,000 to $2,000 per child so that families will have more money in their pockets. I have also cosponsored H.R. 3632, the Promoting Affordable Childcare for Everyone (PACE) Act which will help middle class and low-income families with tax credits for childcare, and I hope to see this included in the final package given the high cost of childcare for two earner families"
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Tax Reform's Focus Should be Middle Class Families, Individuals
Rick Crawford (R-AR, 1st)

“The 1st District of Arkansas will be looking for a fiscally responsible tax reform plan that significantly lowers taxes for working middle income Americans and their families. I support the President’s goal of making our tax code more competitive to increase economic growth and drive up wages for American workers. Ultimately, our current tax code benefits some at the expense of the many, and Americans should be able to keep more of their paychecks to spend, save, or invest as they so choose.”
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Davidson’s Statement on Tax Reform Framework
Warren Davidson (R-OH, 8th)

“Hardworking Ohio families deserve a simple tax system and more take home pay. In the coming weeks, I’ll be working with my colleagues in Congress to make sure the bold, pro-growth and pro-family reforms that this framework proposes are put in place and that a final bill arrives on President Trump’s desk as soon as possible.”
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Awards


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Amash earns award for taxpayer-friendly voting record
Justin Amash (R-MI, 3rd)

Rep. Justin Amash (R-Mich.) this week received the “Taxpayers’ Friend Award” from the National Taxpayers Union in recognition of the “A” grade he earned for his 2016 voting record. His score of 93 percent on the organization’s 2016 scorecard earned him the highest rating in the House of Representatives.
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News Concerning the Hurricanes


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Babin Supports Bill to Deliver Immediate Tax Relief to Hurricane Victims
Brian Babin (R-TX, 36th)

“In my congressional district, countless individuals and families lost nearly everything to Harvey’s floodwaters,” said Rep. Babin. “The stories are heartbreaking. This bipartisan legislation gives them further assistance to rebuild their lives through immediate tax relief while sending another important message that we stand together with our fellow Americans through this extremely difficult time.”
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Rep. Ami Bera Denounces Trump Administration’s Response in Puerto Rico and Urges Immediate Action
Amy Berra (D-CA, 7th)

Rep. Ami Bera, M.D. released the following statement after news broke that the Trump administration will not waive shipping restrictions that are delaying Puerto Rico relief:
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BIPARTISAN GROUP OF 65 MEMBERS OF CONGRESS CALL ON TRUMP ADMINISTRATION TO LET CUBA BUY U.S.-MADE RECONSTRUCTION PRODUCTS AFTER HURRICANE IRMA
John Conyers, Jr. (D-MI, 13th)

“[T]here is a simple change you can make that would provide necessary support to the Cuban people while at the same time helping U.S. businesses: remove restrictions on the ability of U.S. companies to export needed relief and reconstruction supplies to the Cuban government and its people.”
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Hmmm. That's a tough one. Trump could say yes and stand to make money to help our budget off helping Cuba, or he could say no and risk the damning from the main stream media, once again. Not that anyone cares about what CNN thinks, but the money sure looks good right now. The question is, can Cuba afford our help?

This opens up a whole new point of view. All these countries that are offering us help, what do they want from us in return? Are we accepting it? If so, from who? Why isn't the media covering this?


Hurricane Relief and FAA Authorization Pass House
Kevin Cramer (R-North Dakota)

“After Democrats voted against this bill earlier this week using DACA as a reason to obstruct this otherwise bipartisan bill, I am pleased House Republicans rose above the partisan politics being played. While consistent long-term funding is always the goal, this bill ensures the vital functions of the FAA continue to run smoothly while the House and Senate continue to work on a longer-term solution.”
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Budget


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REINVENTING WASHINGTON'S BROKEN BUDGET PROCESS
Doug Collins (R-GA, 9th)

The American people are fed up with Washington — and rightfully so. Both parties are responsible for this pathetic budgeting record and for its byproduct: a staggering $20 trillion debt. It's time to forge a new path.
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Law-breakers


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Warrants, Whether Convicted or Not, Keep People from Getting Federal Benefits
Paul Cook (R-CA, 8th)

The CUFF Act amends the law to prohibit individuals who have an outstanding arrest warrant for a felony or parole violation from receiving certain monthly welfare benefits. The law would apply only to felony charges or a crime carrying a minimum term of one or more years in prison. The policy would not punish those convicted of misdemeanors, such as outstanding parking tickets.
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Iran


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Bipartisan pair wants commission to oversee Iran deal
Gerald E. “Gerry” Connolly (D-VA, 11th)

Congress has a role to play in effective oversight of this agreement, and we must assert that role regardless of whether the president certifies Iran’s compliance. This commission ensures that the effort to constrain the Iranian nuclear program receives the attention it deserves.”
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Other


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Cohen’s Statement on the Announced Retirement of Tennessee Senator Bob Corker
Steve Cohen (D-TN, 9th)

“I was disappointed to learn that Senator Bob Corker will not be seeking re-election in 2018. Senator Corker has been easy to work with, and we have developed an excellent relationship since beginning our careers in Congress in 2006. Bob is highly respected for his knowledge of the issues, especially foreign policy. He has exhibited moments of independence reminiscent of past great Tennessee Senators. I have enjoyed his friendship and collegiality since serving together in Tennessee State government, and I will miss serving with him in Congress.”
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Cooper Statement on Announced Retirement of Sen. Bob Corker
Jim Cooper (D-TN, 5th)

“I congratulate Sen. Corker for two terms in the Senate. Despite our differences, we have a solid working relationship and I admire his expertise on foreign affairs,” Rep. Cooper said. “I wish him the best in his future endeavors, and I thank him for his service to Tennessee.”
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Friday, September 15, 2017

Pondering: Price Gouging,Terrorism, Nursing Home, Single Payer Health Care, Equifax, DACA, Retirement, Transportation, Education, Human Trafficking, Automatic Knives, Health Insurance

  • After airline ticket fares skyrocketed before and following Hurricane Irma, legislation has been introduced in the House of Representatives to cap airfares when a disaster has been declared. Under the proposed bill, the “AirFAIR Act”, when a state, territory or U.S. possession makes a disaster declaration, airlines would be prohibited from making price hikes exceeding 30%. Furthermore, the Department of Transportation would have authority to further reduce the maximum allowed price increase during catastrophes.

    As the nation contends with the aftermaths of Harvey and Irma and prepares for Hurricane Jose, there have been multiple reports of airlines drastically increasing prices. Some consumers noted price increases from $547 to over $3200. Other travelers posted on social media fares of $1,738 for flights between Miami and Indianapolis and a $2,370 flight between Miami and Los Angeles. Airlines have contended that they did not change their pricing structure and that price changes are dictated by computer algorithms on the companies’ booking websites.

  • Another bill has been introduced to fight terrorism and force the United Nations to define "international terrorism."

    The Define It To Fight would withhold ten percent of United States funding to the United Nations (U.N.) until the intergovernmental organization adopts a definition for "international terrorism." Instead, those funds would be directed to the U.S. Treasury for the purpose of reducing the national debt – which now stands at more than $20 trillion.

    The U.N. Security Council adopted Resolution 1373 on September 28, 2001, which created the Counter-Terrorism Committee (CTC) to become the lead U.N. agent in the war on terror. Since then, the CTC has failed to name a single terrorist, terrorist organization or state-sponsor of terrorism. The three U.S.-identified state sponsors of terror – Iran, Syria and Sudan – have submitted reports to the CTC about their compliance with Resolution 1373. In the absence of any U.N. definition of terrorism, all three states have readily proclaimed that they are engaged in a vigorous campaign to combat terrorism despite clear and irrefutable evidence to the contrary.

    The United States is the largest contributor to the U.N., providing about $3.3 billion a year to finance U.N. activities and financing 22 percent of their budget.

  • Eight patients at the Rehabilitation Center at Hollywood Hills tragically lost their lives because of a ‘prolonged power failure’ that shut down the facility’s air conditioning system. After the first three patients died, more than 100 others were evacuated to various medical facilities, one of which is just across the street from the nursing home.

  • John Barrasso (R - WY) believes Senator Bernard Sanders' (I - VT) single-payer health care bill, S. 1804, is not only a government takeover of health care, but would also put financial burdens on the American people. He has requested the Congressional Budget Office (CBO) to provide a full cost estimate of the bill.

  • In the wake of the Equifax breach, legislation has been introduced to require accountability and transparency for data brokers like Equifax who are collecting and selling personal and sensitive information about consumers. The Data Broker Accountability and Transparency Act allows consumers to access and correct their information to help ensure maximum accuracy. The legislation also provides consumers with the right to stop data brokers from using, sharing, or selling their personal information for marketing purposes. The bill additionally requires data brokers to develop comprehensive privacy and data security programs and to provide reasonable notice in the case of breaches. The legislation empowers the Federal Trade Commission (FTC) to enforce the law and promulgate rules within one year, including rules necessary to establish a centralized website for consumers to view a list of covered data brokers and information regarding consumer rights.

  • President Trump has rescinded Obama's DACA program, causing much outcry from those who supported it. However, rumors have been abounding lately that Trump is making a deal with the Democrats to keep it. When confronted with the news, Trump said that no deal had been reached, and the only way he would even consider making the deal would be if the Democrats agreed to fully fund the Wall.

  • More than 30 states – including Arkansas and Connecticut – have established Century or Centennial Farms designations and awards. However, no federal recognition for 100-year-old farms currently exists. The Century Farms Act that has been introduced in the Senate will direct the U.S. Department of Agriculture to establish a program honoring and recognizing the invaluable contributions of century-old farms.

  • Because of reports that Washington Republicans are looking at cuts to Social Security and Medicare as well as place new taxes on retirement savings accounts that would reduce workers’ take home pay in order to pay for massive tax cuts for Wall Street, Senator Sherrod Brown (D - OH) has promised in front of the Senate Finance Committee to put up "One hell of a fight". He was not the only one who warned the White House and Senate and House leaders against funding corporate tax breaks by slapping new taxes on retirement savings for workers.

    Their reasoning is that ‘rothification,’ would take away the freedom Americans currently have to choose the retirement savings plan that works best for them. Instead, it would force everyone into a Roth account. Unlike 401ks, IRAs or other retirement savings plans many Americans currently use, Roth savings are taxed up front, reducing workers’ take home pay and making it more expensive for Americans to save for retirement.

    Roth plans are also more expensive for employers to offer and would make it harder for small businesses to provide retirement plans for their employees.

    Further, the Senators also pointed out that rothification is fiscally irresponsible and would add to the federal deficit.

  • The Moving and Fostering Innovation to Revolutionize Smarter Transportation or the Moving FIRST Act, a bill that will enhance the transportation systems of American communities through the use of innovative technology, has been introduced in the Senate. This legislation will establish and build on the successes of the 2015 Strengthening Mobility and Revolutionizing Transportation (SMART) Cities Challenge administered by the U.S. Department of Transportation (USDOT) by expanding the opportunity for more communities – both urban and rural – to compete for resources that will fund efficient, creative and innovative transportation projects.

  • The Middle School Technical Education Program (Middle STEP) Act, legislation that would expose middle school students to career and technical education (CTE) programs focused on career exploration, has been introduced in the Senate. The Middle STEP Act would establish a pilot program that allows middle schools to partner with colleges, other postsecondary institutions, and local businesses to develop and implement CTE exploration programs that give students access to apprenticeships or project-based learning opportunities, which are traditionally not available to students until high school or higher education.

  • The Senate has unanimously passed the Abolish Human Trafficking Act and the Trafficking Victims Protection Act of 2017. The measures will strengthen and reauthorize key programs that support survivors of human trafficking and provide important resources to law enforcement agencies in the fight to end modern slavery. The bills will now be sent to the House of Representatives for consideration.

  • The Freedom of Commerce Act, S. 1779, which would allow consumers to purchase an automatic knife legal in their state, regardless of where it was manufactured in the U.S has been introduced in the Senate.

    Enacted in 1958, the Federal Switchblade Act (FSA) leverages the federal government’s power over interstate commerce to prohibit the purchase, sale and trade of automatic knives between any of the 50 states or U.S. territories. Current federal law prohibits the interstate sale and importation of switchblades, curtailing states’ rights to legislate the legality of certain tools within their borders.

    This legislation would repeal certain provisions of the FSA and allow domestic manufacturers to ship and sell their products to buyers in other states, as well as permit the importation certain knife parts. Moreover, the bill would not replace or alter any existing state laws regarding switchblades and other automatic knives. Buck Knives, Inc., a knife manufacturer based in Post Falls, Idaho, supports the legislation.

    Currently legal in 27 states, automatic knives are defined based on their opening mechanism and are used primarily by professional trades and outdoor recreationalists

  • The Small Business Health Plans bill, introduced in the Senate, would allow multiple small businesses to pool their employees, across multiple states, for the purpose of purchasing health insurance coverage for their employees in a large group market. By banding groups of small businesses together, it would provide them with greater negotiating power for better prices and greater benefits for their employees.
  • Saturday, July 22, 2017

    Further delaying full implementation of the fiduciary rule will cost retirement savers $7.3 billion

    EPI Policy Director Heidi Shierholz submitted a comment in response to a Department of Labor Request for Information about a potential delay in the full implementation of the conflict of interest rule, also known as the fiduciary rule.

    The fiduciary rule protects working Americans by requiring financial professionals to act in their clients’ best interests when recommending investments to people saving for retirement. In her comment, Shierholz opposes any further delay in fully implementing the rule.

    “Any delay will be enormously expensive to retirement savers—and not just during the period of the delay,” said Shierholz. “The losses that retirement savers experience from being steered towards higher-cost investment products during the delay would not be recovered, and would continue to compound.”

    At the behest of financial services industry interests, the Trump administration has already acted to delay the rule, and is now working to weaken it and further delay key provisions. Shierholz estimates that the delays the Trump administration has already instituted will cost retirement savers $7.6 billion over the next 30 years. Each year of further delay will cost retirement savers an additional $7.3 billion dollars over the next 30 years.

    “The only beneficiary of President Trump’s move to delay this rule is the financial services industry, which wants to continue to take advantage of retirement savers for as long as possible,” said Shierholz. “Working people trying to save for retirement need to be able to invest their hard earned savings without being fleeced.”

    Before the rule went into partial effect in June, it was legal, in many cases, for financial salespeople to recommend higher-cost investment products that provide them with a higher commission but provide lower returns to their clients. If fully implemented and enforced, the fiduciary rule will eliminate the loopholes that made providing this kind of conflicted advice a widespread practice among financial advisers.

    The Trump administration claims that delaying the rule will give it time to determine whether the rule would adversely affect the ability of Americans to gain access to retirement advice. This is a thinly-veiled tactic to kill or weaken the rule and allow the financial industry to continue taking advantage of retirement savers.

    “We have a retirement crisis in this country. We need an America where working people can get advice on how to invest what they’ve earned without being taken advantage of by the financial professionals they go to for help,” said Shierholz.