OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Setting Every Community Up for Retirement Enhancement Act of 2019

Floor Speech

Date: May 23, 2019
Location: Washington, DC
Issues: Finance and Banking

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Mr. SMITH of Nebraska. Madam Speaker, I do want to say that I plan to vote for this bill. I support the improvements it makes to savings and retirement, which have gained bipartisan approval, both in the Senate and here in the House.

In particular, I appreciate hearing from agricultural cooperatives across Nebraska's Third District about the importance to them of the language in this bill reducing PBGC premiums for nonprofits.

I am also incredibly pleased we are moving quickly to address the Gold Star families tax issue and hope we can complete work on that problem as quickly--if not more quickly--as the rest of the provisions in this bill.

I do have reservations and concerns about the process which got us here and some provisions which are no longer in the bill.

As we know, the bill was marked up in the Ways and Means Committee on April 2. We reported it out unanimously, a very bipartisan effort. It was moved out of committee by a voice vote.

Prior to the markup, there were no concerns raised about the provisions in the bill, provisions that would help families pay for the education of their children, whether in home school or public school. As we know, many expenses come up for various reasons.

It is unfortunate that that took place, and I know that this wasn't the first time. Actually, it was the second time in 2 weeks that we are here considering legislation that was a product of bipartisan agreement in committee, but it was altered before it came to the House. It is very unfortunate.

And as I said at the beginning, I am going to support this bill. It has many good provisions, but I hope that we can avoid similar situations from undermining the committee process, undermining the integrity of the committee system that we have that empowers individual Members to work together with colleagues on a bipartisan basis. Let's not undermine that.

Again, I will vote for this bill. It could have been a better bill, and I hope next time we can address the shortcomings, moving forward.

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