Investments to improve americas longterm financial security. I am really proud of what this committee has done with its record of accomplishment in the area of retirement policy. We have an opportunity to build on these achievements and further enhance workers opportunities to save. Our country currently faces an Income Crisis we know that having an employersponsored Retirement Plan is the key to planning for retirement, but nearly half of the american private sector employees work for an Employee Employer that does not offer a Retirement Plan. This subtitle includes an automatic Ira Proposal that i have worked on for more than 15 years. It requires employers that have been in existence for at least two years who do not currently offer a Retirement Plan and employee five or more people to automatically enroll those employees in iras or 401 K Type plans. To offset a ministry of cost, employers would receive a Tax Credit. The current law includes a nonrefundable Tax Credit called the Sab
Point, obviously we would have had the rate rates to the bottom. So now we know we have predictability in uncertain times. We know the agreement will go to the end of next year. We also know that they will, you know, get, they will release 100000. 00 barrels a day every month. Obviously, will be reviewed every month. Because given the pandemic, you never know what happens next. Of course, some members like russia and iraq, for example, who are really absolutely dependent on the income they get from, from production, given the fact that this, this production is going to be increased. What does it mean for countries like them was put in for countries like them . Thats very good news and you saw that m and the you a call. Its about half of what they wanted in terms of having their did the, the level raced the Baseline Waste from which you calculate b and the cuts. But both, both saudi and russia got 500000 barrels a day so they could update that to as the, the rock and for iraq. This is a
Conversation that is going on right now. But were definitely monitoring that and well try and plug into that process when the opportunity presents itself. President tsen okay. Thank you. Okay. So the next item, please. Its adjourned. President tsen all right. Thank you. Director richardson before we adjourn. Yes. Director richardson i have two statements to make. Just to acknowledge mr. Jim smith for helping us out through the technical glitches today. And i would love to with your permission to adjourn this meeting in the memory of the late congressman john lewis and it was put eloquently, some thoughtful recognition of this great man. And we are all in gratitude to mr. John lewis for his life long fight in systemic racism and injustice. So he was a leader by all measures. And may his soul rest in peace. And thank you. President tsen thank you very much. With that, well adjourn. Thank you, all, for a great meeting. Thank you. [roll call] we have a quorum. You may begin the meeting. Th
You can take your seats. We want to take advantage ofg to the opportunity to give the secretary some time for the give and take and the dialog that we are going to embrace here for the next couple ofhink hours. I think we can proceed on the first issue so that we can get so, firs to the chairman, it is of no controversy. Mor so, first, let me call the waysa and Means Committee to order, before turning to our hearing thise morning, the committees aint budget for fiscal year 1974. 2021 in accordance with the congressional budget act, of 1974 in house rules for f, you will find a copy of the letter ininbr front of them, you will receiveubmit it in advance of todays notice the. Thank you for working with me on refl able to wholcan submit a conse document that reflects the a priorities of the ways and n means community. They will consider as open for amendment r at any point, and if there are no amendments i will now recognize mr. Thompson for the purpose of offering a motion. Imat i move t
You can take your seats. We want to take advantage ofg to the opportunity to give the secretary some time for the give and take and the dialog that we are going to embrace here for the next couple ofhink hours. I think we can proceed on the first issue so that we can get so, firs to the chairman, it is of no controversy. Mor so, first, let me call the waysa and Means Committee to order, before turning to our hearing thise morning, the committees aint budget for fiscal year 1974. 2021 in accordance with the congressional budget act, of 1974 in house rules for f, you will find a copy of the letter ininbr front of them, you will receiveubmit it in advance of todays notice the. Thank you for working with me on refl able to wholcan submit a conse document that reflects the a priorities of the ways and n means community. They will consider as open for amendment r at any point, and if there are no amendments i will now recognize mr. Thompson for the purpose of offering a motion. Imat i move t