Latta votes to help SECURE retirement
Washington, May 23, 2019 | Mikayla Hall (202-225-6405)
Congressman Bob Latta (R-Bowling Green) released the following statement after the House passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 (H.R. 1994).
“It’s never too early to start saving for retirement, and the SECURE Act will make it even easier for workers and small business owners to save more and earlier, and relieve the financial burden on our Gold Star families. While this is a good, pro-family bill, this could have been a great bill. I’m disappointed that Democrats last-minute decided to strip this bill of the bipartisan language that allowed parents to use 529 plans for homeschooling and additional K-12 expenses – something that is important to families in Ohio and across the country.”
This legislation builds on the reforms House Republicans passed in the 115th Congress to help workers and small businesses save more and earlier for retirement. It also eases administrative burdens for businesses who offer retirement plans for their workers and modifies current age requirements surrounding IRAs to reflect changes in today’s workforce. It allows families to make penalty-free withdrawals from their retirement accounts for the birth or adoption of a child, and lowers taxes for Gold Star families. Congressman Latta is the sponsor of a resolution, H.Res. 269, which would designate March 2 as Gold Star Families Remembrance Day.