Thompson Votes to Pass Bipartisan Retirement Security Legislation Bill expands retirement savings access, protects gold star families

Thompson Votes to Pass Bipartisan Retirement Security Legislation Bill expands retirement savings access, protects gold star families

PRESS RELEASE

Washington – Today Rep. Mike Thompson (CA-05), Chairman of the House Ways and Means Subcommittee on Select Revenue Measures, voted to pass H.R. 1994, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. This bill expands access to retirement plans for employees of small businesses, makes it easier for home health care workers in California to access retirement savings tools, and eliminates an unfair and unjust tax hike on Gold Star families caused by mistakes in the Republican tax law. A statement from Thompson is below.

“Our nation is facing a retirement crisis – in fact, almost half of all people in American do not have any money saved for their retirement. Today, I voted to pass the SECURE Act, a bill to help solve this problem and expand access to retirement tools for workers in our district and across our country. I was proud to help craft this bipartisan bill as Chairman of the Ways and Means Subcommittee on Select Revenue Measures. It’s part of giving workers and their families peace of mind knowing they can retire with dignity. In particular, it helps home health care workers in California access vital retirement savings tools.

“The SECURE Act also includes a vital fix for Gold Star families and the families of fallen first responders. When Republicans drafted their tax bill in the last Congress, they rushed it through with no hearings and no testimony from expert witnesses, leaving unintended consequences on our communities. These mistakes left an unjustly-high tax burden on our Gold Star families and on the families of fallen first responders. As a veteran myself and as the father of two first responders, I know that these benefits are sacred. I was proud to vote to restore these benefits and do right by the most honorable families in our nation.”