Tag: Senator Michael Bennet
![piggy bank on life buoy on water](https://crr.bc.edu/wp-content/uploads/2021/07/piggy-bank-on-life-buoy-on-water-1536x1229.jpg)
Maybe it‘s time to rethink adding a credit card to 401(k) accounts! Senators James Lankford (R-OK) and Michael Bennet (D-CO) introduced the Enhancing Emergency and Retirement Savings Act of 2021, which would allow 401(k) participants one penalty-free distribution of up to $1,000 each year to deal with financial emergencies. The rationale is that low-paid workers…
![iStock-1180073605](https://crr.bc.edu/wp-content/uploads/2021/03/iStock-1180073605.png)
To lift families out of poverty during the pandemic, Congress is on the verge of passing a substantial increase this year in the standard child tax credit as part of President Biden’s broader relief package. But despite the sharp divide over the $1.9 trillion package, some senators – both Democrats and Republicans – want to…