April 14,1999

Roth Statement on USA Accounts

WASHINGTON -- Senate Finance Committee Chairman William V. Roth, JR. (R-DE) today released the following statement on President Clinton's USA accounts:

"More than one-third of American workers are not confident that they will have enough to live on in their retirement years. This is clearly a problem that Congress and the President need to address.

"I am pleased to finally see the outline of the President's Universal Savings Account (USA) proposal, and I look forward to reviewing the details. The President and I share a commitment to improving retirement savings among working Americans. The President's proposal also has some important similarities with personal retirement accounts proposals offered in Congress as a part of Social Security reform.

"The President's proposal is a good starting point for further discussions on personal retirement accounts, and I look forward working with him."