As we all know, today, there is a growing sense of uncertainty among middle class Americans as they work towards their retirement.  With fewer and fewer workers covered by defined-benefit pension plans, an all time low in the national savings rate and longer life expectancies, middle class Americans are struggling to adequately prepare their nest egg so it can last throughout the full span of their retirement years.

Now is the time for Washington to must move to adopt policies that will broaden the scope of retirement savings and ensure economic security for all working families across the country.  I recently joined the Chairman of the House Ways and Means Select Revenue Measures Subcommittee, Richard Neal (D-Mass.), in introducing the Automatic IRA Act of 2007.  Our legislation proposes an ambitious but practical set of initiatives to increase the retirement security for American workers that would not otherwise have access to an employer provided retirement plan.