This week, Daniel Savickas, of the Taxpayers Protection Alliance, wrote an editorial in RealClear Policy pointing out how President Biden and Congressional Democrats’ proposed IRA changes would seriously harm average, middle-income retirement savers.
In an attempt to help fund the Democrats’ massive $3.5 trillion social realignment package,
Representative Richard Neal (D-Mass.) and Senator Ron Wyden (D-Ore.) spearheaded the assault on IRAs.
Savickas writes that the Democrat plan will stifle growth, noting that “Innovation will be stalled and middle-class Americans will be retiring later”and urges Congress to “avoid the temptation to use provisions like these to raise revenue at the expense of savers’ retirement.”
Savickas concludes, “During a time of unprecedented economic insecurity, lawmakers on both sides of the aisle should be encouraging investment and retirement saving, instead of punishing it.”
Read the full op-ed in RealClear Policy here.
Learn more about the danger of Biden’s IRA plan here.