Merkley Decries Passage of Resolution Making it Harder for Working People to Save for Retirement

Merkley Decries Passage of Resolution Making it Harder for Working People to Save for Retirement

WASHINGTON, D.C. – Oregon’s Senator Jeff Merkley released the following statement after the Senate narrowly passed a Congressional Review Act resolution rolling back regulations to help states set up retirement savings plans for workers. If signed into law by President Trump, this resolution will threaten efforts like Oregon’s to ensure that every worker has an option to save for retirement.

“This effort to block state-sponsored retirement plans for American workers is a shameless Wall Street giveaway. These plans would provide a convenient opportunity to workers to save for retirement when their company fails to provide such an option. That’s good for workers, good for small business owners, and good for communities. 

“With millions of Americans facing a retirement savings shortfall, now is the time to make high-quality retirement savings plans more available, not less. A cold hard fact is that 55 million Americans do not have access to a retirement plan at work. That’s why the effort by states to fill this need is so important. President Trump campaigned on a promise to stand up to Wall Street lobbyists and fight for workers. If he wants to stand by those promises, he must veto this bill.”