Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
DES MOINES, Iowa, April 10 -- The Iowa Democratic Party issued the following news release:
With Congressman Tom Latham's vote today for the Ryan Budget, Iowa Democratic Party Communications Director Christina Freundlich released the following statement:
"It's clear that Matt Schultz, David Young, Robert Cramer and Monte Shaw would follow in Congressman Latham's footsteps and vote for Paul Ryan's budget that would raise Medicare costs on Iowans and cut taxes for the wealthy, said Freundlich. "If they don't want to give Iowa voters a straight answer about the Republican budget while Paul Ryan comes to Iowa to campaign for them and their party, we can only assume that they must support their party's budget."
This Year (http://clerk.house.gov/evs/2014/roll177.xml) and Last Year Congressman Latham Voted for a Budget that Would Cut Taxes for Millionaires and Corporations While Raising Taxes for the Middle Class and Making Medicare "Unrecognizable." In 2013, Congressman Latham voted for Congressman Paul Ryan's budget proposal. The Center for Budget and Policy Priorities reported that under Ryan's budget, families with incomes below $200,000 would face tax increases averaging more than $3,000, filers with incomes of $1 million or more would still have an average net tax cut of $245,000, and the corporate tax rate would be cut from 35 to 25 percent. The National Journal reported: "And, for those younger than age 55, Medicare could look unrecognizable: People receive a fixed sum of money from the federal government to buy health insurance in their old age, regardless of the way inflation has caused health care costs to increase." [H Con Res 25, Vote #88, 3/21/13; Center on Budget and Policy Priorities, 3/17/13; National Journal, 3/10/13]