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President Obama endorses initiatives to make retirement savings available to workers: “To me, the answer is clear. We need to uphold the basic tenet that says, in America, a lifetime of hard work should be rewarded with a retirement that is secure and dignified,” he wrote. Woodstock Institute agrees with the President, who stated: “This is about more than bank accounts or bottom lines. It’s about the values that make America great — honesty, fair play, dignity. And it’s about our commitment to each other and respecting everyone’s value, no matter how young or old you are.” The President recently called for the Department of Labor to develop rules that will help states set up automatic retirement savings programs for private-sector workers. Woodstock Institute supports this development and calls on the Department to issue the rules quickly. 

Illinois has spent almost a month without an operating budget, forcing providers to cut vital services to Illinois’ children, families, and communities, and eliminate essential jobs.  The budget standoff leaves the state’s most vulnerable populations at risk. The Responsible Budget Coalition (RBC) is urging lawmakers to enact a budget that includes adequate revenue and does not leave social services in the dust. 

It was very fitting that the Obama Administration and Department of Defense (DoD) released the final Military Lending Act (MLA) rules on the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act of 2010 (Dodd-Frank) and the fourth anniversary of the launch of the new Consumer Financial Protection Bureau (CFPB) on July 21, 2015. The final MLA rules are a great example of how to conduct evidence-based policymaking to protect consumers from unfair and abusive financial products and practices.

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