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Neal Statement on Senate Passage of Auto IRA Congressional Review Act

May 3, 2017
Press Release

WASHINGTON, DC – Ways and Means Committee Ranking Member Richard Neal (D-MA) today released the following statement after the United States Senate passed a Congressional Review Act (CRA) blocking U.S. Department of Labor regulations on state-run retirement programs:

“Today’s passage of a CRA to roll back commonsense regulations on state-run retirement programs is a harmful step back for Americans’ retirement security. State-run auto IRA programs are a critical tool in this effort, but this CRA would put up a roadblock and make it more difficult for states to launch such programs. I have long advocated to make it easier for Americans to save for retirement, including with my bill to create a federal auto IRA program. I will continue to push for these efforts, as Congress should be focused on working together to make it easier for Americans to save for retirement.”