Treasury Department's Decision to Close Down the myRA Program

Today the U.S. Department of the Treasury announced it is phasing out the myRA program and will not be accepting new enrollments.

The following quote can be attributed to Justin King, policy director for New America's Family-Centered Social Policy Program:

"The Treasury Department's decision to close down the myRA program is part of a troubling pattern. This administration has consistently closed off promising avenues of government innovation at the expense of low- and moderate-income Americans who want safe and affordable ways to save. Closing myRA repeats what has become a familiar message to working Americans, if you don't have a high-income, this government will not act to help you."

Author:

Justin King is policy director of the Family-Centered Social Policy program at New America. In this position, he works to develop and advance innovative public policies that expand economic opportunity by broadening access to high-quality financial products, increasing savings and growing asset ownership.