Washington—Senator Dianne Feinstein (D-Calif.) today released the following statement after the Senate voted to overturn a Department of Labor rule that was essential to cities providing increased access to retirement savings programs:
“City and state programs that expand access to retirement savings accounts are a simple and effective way to address our retirement savings crisis. For the 55 million Americans who don’t have access to a retirement savings account at work, today’s vote only creates more barriers to planning for their future.
“Supporting retirement savings shouldn’t be a partisan issue. At a time when almost half of American households have nothing saved for retirement, Congress should be working to make it easier to prepare for retirement, not harder.
“While today’s vote is a disappointing development for city programs, I will keep fighting for California’s Secure Choice program, which will support 7.5 million Californians.”