Savings in America

Restoring a stable and prosperous economy will require getting more Americans to save and build the tools necessary for financial success. Congress, through the tax code, plays a major role in setting the rules that define how and where people save their money. However, surveys and common sense tell us that financial security is lacking for millions of Americans. What do the finances of the “typical” American household look like? Are households following conventional wisdom about building up emergency savings? What patterns can be identified across different income and demographic groups? Is there a retirement savings shortfall and just how big is it?

This briefing, the second in a series, is offered as a service to members and staff interested in the financial state of their constituents and the possibility of reforming savings vehicles through the tax reform process.

This event is sponsored by the Congressional Savings and Ownership Caucus, which is co-chaired by Representatives Jim Cooper (D-TN), Tom Petri (R-WI), Joseph Pitts (R-PA), and Niki Tsongas (D-MA).

Participants

Featured Speakers
Justin King
Policy Director, Asset Building Program, New America Foundation

Clinton Key
Research Manager, Pew Charitable Trusts

Caroline Ratcliffe
Senior Fellow, Urban Institute

Nari Rhee
Manager of Research, National Institute on Retirement Security