Sacramento Update

California has a good idea, so naturally Republicans in Congress hate it

Never mind that the people of California overwhelmingly rejected GOP candidates and entrusted the Legislature to a Democrat super-majority.

An ambitious California law intended to help create retirement security for low-income workers is in the cross-hairs of the Republican Congress, which is moving to block the state and others from launching programs to automatically enroll millions of people in IRA-type savings plans.

The push is one of the most direct confrontations yet with California and other liberal states by Congress.

By targeting the novel “auto IRA”-style programs, congressional Republicans are also provoking one of California’s most visible leaders, state Senate President Pro Tem Kevin de León, the Democrat who championed the policy in California and nationwide and is leading a movement in the Legislature to resist the Trump White House.

Read the whole story in the LA Times

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Categories: Sacramento Update

1 reply »

  1. Is this the same Deleon that is bragging half his family are illegal aliens sucking on the taxpayers tit .. yep !!

    So… the retirement benefit is NOT guaranteed like the state pensions. If it was lost by this incompetent state government mishandling of these funds, which is already in trouble with the State pensions for mishandling them, the workers are SOOL. Sorry, but your money is gone type of scenario, and the workers have no recourse. In actually, the money was going to be handled by CAL-PERS and any monies collected and invested is being used directly to help prop up Jerry’s two failing pension systems. Secondly, the types of workers they are talking about are VERY low income workers and need every penny they make. So automatically deducting 3% from their checks every two weeks hurts them. They can opt out if they want and I bet many would. Good Move Congress, stopping hard leftist crackpots from setting up pensions for the poor when they will never see those payments. Kaly is broke. Others think that Kaly was secretly going to try to set up it’s own Soc Sec System and that was NEVER going to work. Kaly is broke and can barely pay it’s own bills and depends on the Feds for over 1/3 of it’s operating budget.

    Like

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