Southbound but then lost control and flew over the overpass. The car went down an embankment through bushes and across the parking lot about 200 feet or so. Then it crashed into the building upsidedown ended up inside a yoga studio. Firefighters had to shore up that building before going in. It took several hours to rescue the victims. We are told that they had to cut both of the doors off the car using the jaws of life to get to the victims, as well. Coming up in the next half hour, well hear from the Building Owner who says he was shocked that nobody died in the incident. We are also hearing that the two people inside the bmw were in critical condition. As far as the building itself is concerned, two of the businesses had been redtagged. They will try to have power back on later today. Live in walnut creek, kiet do, kpix 5. New this morning, utah lawmakers have approved funding for a plan to move tons of coal through oakland. The measure would use 53 million in tax revenue for a coal
Expect to live a much less during retirement. In 2013 that number had grown to nearly half of all adults. This trend is getting worse but not better. Young families are having more trouble than previous generations to save for retirement. While this problem is that most acute for all middle income families, there are some families who are suffering more than others from the Retirement Crisis and the expected shortfall. Particularly lowincome households are more likely to suffer than high income household. This is true for lowincome households who do not work for an employer who offers Retirement Benefits at work. So what can we do to tackle this problem . Federal and State Governments already offer substantial tax benefits to help people save for retirement. The federal government forgoes with a 100 billion each year tax revenue to incentivize people to save for retirement. States with income tax also encourage workers and their day to save for retirement. Even though federal and State
The best access to congress is n cspan, cspan radio and cspan. Org. And go behind the scenes on capitol hill by following our capitol hill producer craigkaplan and cspan. Next, a look at Social Security, individual retirement accounts and refundable tax credits at an event hosted by the center for American Progress and the new school. The two panels are about an hour and 20 minutes. Shes unfortunately sick. With each passing generation, americas Retirement Crisis is growing. In 1983 almost a third of workingage households could face could expect to learn to live on much less during retirement. By 2013, that number had grown to more than half of all workingage adults, and this trend is getting worse, not better by any measure. Young families are having even more trouble than previous generations to save for retirement. And while this problem is most acute for all middle income families, there are some families who are suffering more than others from the Retirement Crisis and the expecte
Levels, 40 of the people who save in open accounts dont go through the paperwork to get the savers credit. And as gary said, we dont put that credit into the account. So i think if the states look and say were going to create these accounts, one of the ways to grow these accounts faster is to put the match in the accounts and then the other piece to make it simpler is lets make that match stick. You know, i think there would be a lot of agreement of saying at least the match that you get cant come out until youre retired. Weve heard earlier my son plight not go into this if he know he can get that money out until hes 65, well, maybe let him take his money, but not let him take out the money that goes in from the tax code. So, i think theres some things that we could definitely do to make it better. I think we all have a lot more ideas. I was thinking earlier, everybody commented i would Say Something about what they have to say, well have a great discussion. Lets get on it. Were just a
Deduction Retirement Plan through work and plan design, automatic enrollment. So, tax reform, i think can compliment those features. But we shouldnt lose sight of that. Those are two key things that we need to continue to push forward with. With respect to tax reform, one thing i would say is that we need to, i think in order to have impact in that debate, we need to talk about what it means for additional savings, what it means in the context of tax reform which is focussed on making tax cuts simpler, making it more efficient, its going to be focused on pro growth and focused on making it fairer. So i think with respect to retirement saving incentives, we can hit all of those buckets. We can come up with a tax system, savings incentive system, that is fair, simpler, and that is progrowth. We need i think thats key argument. Savings is a progrowth proposal, right . It is a progrowth part for the economy. And i think we need to emphasize that. In my case, one thing im interested in is r