Americans — especially low- and middle-income workers — are simply not saving enough for retirement. The current retirement income deficit—the gap between what Americans will need in retirement and what they will actually have—is well over $6 trillion. This gap will be insurmountable without a significant change to current tax policy to help incentivize more Americans to save for their own retirement.
On September 9, the Retirement Security Project at Brookings hosted a briefing in collaboration with the Senate Special Committee on Aging to examine new ways to help Americans save for retirement without increasing government spending. A panel of experts on tax, retirement and budget policy explored ideas to modify the tax incentives for retirement savings.
After the panel, participants took audience questions.
[On the shooting of two Indian computer engineers at a Kansas bar allegedly by a 51-year-old US navy veteran] “I don’t think it’s going to be business as usual, at least not for the next couple of years...We’ll certainly have to negotiate a lot of things in a very delicate manner.”