US. Senate split over retirement savings bill
The House of Representatives passed the Secure Act, a bill that would create more opportunities for Americans to save for retirement, with overwhelming bipartisan consent in May. But the bill is stalled in the Senate.
The legislation could die in the upper chamber if it is not passed by a floor vote, unanimous consent, as an updated Senate bill or attached to another bill that must pass (typically these are spending bills). In other words, the bill is not a high priority for Congress. But it could be a pressing matter for the public.
A Northwestern Mutual study found that 78 percent of Americans said they are “extremely” or “somewhat” concerned about not having enough saved for retirement. The study also said 21 percent said they have nothing at all set aside.
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