{"database": "press", "table": "releases", "rows": [["https://www.booker.senate.gov/news/press/booker-young-introduce-bill-to-help-american-workers-families-build-emergency-savings", "Booker, Young Introduce Bill to Help American Workers, Families Build Emergency Savings", "2025-12-03", "2025", "2025-12", "Democrat", "Senate", "NJ", "Cory A. Booker", "B001288", "www.booker.senate.gov", "booker", "https://www.booker.senate.gov/news/press", "scraper", "WASHINGTON D.C. \u2013 Today, U.S. Senators Cory Booker (D-NJ) and Todd Young (R-IN) introduced the Emergency Savings Enhancement Act, legislation to help American workers and families save for unexpected expenses without having to tap into their retirement accounts. U.S. Representatives Eugene Vindman (D-VA-07) and Glenn \"GT\" Thompson (R-PA-15) are leading companion legislation in the House.\n\n\u201cFor millions of working families, an unexpected expense can quickly push them into financial turmoil\u2014even more so as families face rising costs of rent, groceries, and other essentials,\u201d said Senator Booker. \u201cIn 2022, Senator Young and I passed legislation to create emergency savings accounts to help families weather these storms while also saving for their retirement. Today, we are introducing a proposal building on that progress, enhancing emergency savings accounts to help strengthen workers\u2019 financial stability and support their path to a secure retirement.\u201d\n\n\u201cAs a father of four, I understand the impact that unexpected expenses can have on a family budget. Our bill will provide workers and families with additional options to build savings for unexpected expenses, without tapping into retirement savings. If passed, our bill will support Indiana families and build financial security for working Hoosiers,\u201d said Senator Young.\n\nThe Emergency Savings Enhancement Act would modify pension-linked emergency savings accounts (PLESAs) by:\n\nIncreasing the maximum contribution limit from $2,500 to $5,000 to allow for greater emergency savings.\n\nExpanding eligibility to include all employees who otherwise meet a retirement plan\u2019s general requirements, eliminating the administrative burden of continuously monitoring eligibility requirements.\n\nThe Emergency Savings Enhancement Act is supported by the following organizations: BPC Action, U.S. Chamber of Commerce, National Taxpayers Union, Alight, Aspen Institute, Commonwealth, Financial Finesse, Progressive Policy Institute, Prosperity Now, SaverLife, Sunny Day Fund, Third Way, T. Rowe Price, UnidosUS, Vestwell, Voya, and WISER.\n\n\u201cToo many working Americans are one emergency expense away from financial hardship,\u201d said Michele Stockwell, President of BPC Action. \u201cThis commonsense bill, led by Sens. Todd Young (R-IN) and Cory Booker (D-NJ) and Reps. Eugene Vindman (D-VA) and Glenn \u201cGT\u201d Thompson (R-PA), tackles that problem by making it easier for employers to help their workers automatically save for an emergency, alongside their retirement accounts. By passing the Emergency Savings Enhancement Act of 2025, Congress can build on the progress of the bipartisan SECURE 2.0 Act and strengthen middle class financial security.\u201d\n\nIn 2022, Booker and Young led the Emergency Savings Act, which authorized pension-linked emergency savings accounts (PLESAs) to help American workers save for emergencies without having to tap into their retirement savings. Now following its inclusion in the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act of 2022, workers can enroll in PLESAs alongside their retirement accounts and receive the same match offered for retirement savings. The Emergency Savings Enhancement Act builds on the 2022 legislation to incentivize and ease the adoption of PLESAs.\n\nA summary on the bill can be found here.", 1, "2026-03-30T01:40:41Z", "2026-04-06T20:09:11Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.booker.senate.gov/news/press/booker-young-introduce-bill-to-help-american-workers-families-build-emergency-savings"], "units": {}, "query_ms": 1.1587569024413824, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}