Daily Archives: June 24, 2022

A retirement bill currently under negotiation in the Senate gives rich Americans a tax break by bringing forward the payment schedule to remain revenue-neutral within the 10-year budget window, but will ultimately add to the national deficit unless a future Congress raises taxes.

The Senates Enhancing American Retirement Now (EARN) Act raises the age at which taxpayers must start making withdrawals from 72 to 75, allowing them three extra years of tax-free growth.

Most Americans start living off their retirement accounts well before the age of 75, so the bumped-up age requirementreally only affects the wealthy, who often use their retirement accounts as tax-sheltered investment vehicles rather than as savings to cover the cost of living in old age.

The bill throws another bone to rich taxpayers and the Wall Street fund managers who look after their money by allowing them to deposit an additional $10,000 a year into their retirement accounts beginning between the ages of 60 and 63. Setting aside an extra $10,000 a year is something most Americans cant afford to do.

To pay for these tax breaks, the legislation doesnt raise taxes elsewhere, as its supposed to. Itcircumvents the problem by allowing retirement plan participants to opt for Roth IRAs instead of traditional ones.

With Roth accounts, taxes are taken out when you put money into them as opposed to when you take money out. This brings in revenue within the legal budget window, but means the tax cuts arent actually paid for in the long term.

These pay-fors are the same as the ones in the retirement bill that passed the House. Theyre a gimmick, Steven M. Rosenthal, a senior fellow at the Tax Policy Center, a left-leaning Washington think tank, said in an interview. Ive seen every gimmick in the book, and Roth IRAs are the worst.

Its an egregious use of budget scorekeeping rules, Rosenthal added. He furtherlamented that traditional notions of fiscal responsibility these days seem to be beyond the capacity of both Democrats and Republicans.

Todays Republican Party is very different from the Republican Party of fiscal conservatism long ago. Republicans are borrow-and-spend, Democrats are tax-and-spend. But the reality is that tax cuts do not pay for themselves, and its often easier to build bipartisan support around something when you borrow to make it happen rather than tax, he said.

Papering over long-term revenue losses with fancy accounting may be less troubling to economists when interest rates are at zero, but high inflation in the wake of the pandemic has caused the Fed to begin raising rates and tightening its overall monetary policy.

With inflation well above our longer-run goal of 2 to 3 percent and an extremely tight labor market, we raised the target range for the federal funds rate at each of our past three meetings, resulting in a 1.5 percentage point increase in the target range so far this year, Federal Reserve Chairman Jerome Powell told Congress this week. The committee reiterated that it anticipates that ongoing increases in the target range will be appropriate.

This could mean that long-term deficit-expanding measures like the congressional retirement packages will be more of a burden on taxpayers 10 years down the line.

The House version of the Senates retirement bill, known as Secure 2.0, was the second major retirement bill to pass a chamber of Congress in only three years. It received nearly unanimous support and a vote of 414-5, with every present Democrat voting in favor of the bill and only some of the most conservative Republicans, including House Freedom Caucus Chairman Andy Biggs (R-Ariz.), voting against.

Wall Street has come out infavor of the bill, since money managers are paid in the form of fees and more money in retirement accounts means more fees for money managers.

The American Bankers Association, the National Association for Fixed Annuities, the Insured Retirement Institute and other financial and retirement industry trade groups thanked Senate Finance Committee Chairman Ron Wyden (D-Ore.) and ranking member Mike Crapo (R-Idaho) for the legislation in a June 21 letter posted by the U.S. Chamber of Commerce.

Talk to the folks on the committee, the members of Congress. They dont think its a gimmick, and thats why theyve used this. This is a fully paid-for bill. It has to be paid for in order to pass thats the rule of Congress and these are the mechanisms they came up with, Paul Richman, head of government and political affairs at the Insured Retirement Institute, a retirement industry lobbying group, said in an interview.

In their letter to Wyden and Crapo, the lobbies encouraged a swift passage of the bill into law, writing that the Committees dedication to retirement security is a crucial step to finalizing retirement legislation during this Congress.

While geared toward wealthy Americans, both the House and Senate retirement packages do contain provisions for the average household, which pulled in about $67,500 in 2020 nearly 3 percent lower than the 2019 median income of almost $70,000.

These include an expansion of the savers tax credit, which subsidizes retirement account contributions for people at the low- or middle-income level by giving them a 50 percent government match for contributions up to $2,000.

That extra $1,000 a year could add a small boost to the account balances of the low- and middle-income households, but it would still leave them with far less than the new incentives for the wealthy in the bill, Frank Clemente, head of the left-leaning advocacy group Americans for Tax Fairness, wrote to Wyden in a June 21 letter.

His group also appreciated the fact that the Senates EARN Act will lead to workers participation in 401(k) and 403(b) retirement plans [by] encouraging employers with a tax credit to automatically enroll their workers in retirement plans (unless the workers opt out), allowing employers to consider employees student loan payments for purposes of matching contributions.

But Clemente wrote that these improvements are marginal and only modestly help low- and middle-income people whose retirements are less secure.

The retirement system is upside down. It rewards those who dont need help and gives very little to those who do need help, the Tax Policy Centers Rosenthal said. But of course the retirement industry complex is very, very powerful.

Read more:

Senate retirement bill benefits wealthy Americans - The Hill

1. Could you provide a brief background on yourself?

Born in Chicago, Illinois, I lived in Nashville, Tennessee, before moving to Fargo, North Dakota with my family where I graduated from high school. Fargo was a special place to grow up as it was very family-friendly, safe and had excellent public schools. In fact, my grandmother, for whom I was named, taught geography and social sciences in the public schools there for four decades. I even had her as my geography teacher in seventh grade. After high school, I went to Carleton College, in Northfield, MN, where I received a bachelors degree in International Relations magna cum laude. After living in Minneapolis, Minnesota, for a year, I moved to Cambridge, Massachusetts to go to Harvard Universitys Kennedy School of Government where I received a masters degree in public policy. I joined the State Department as a Presidential Management Fellow in 1990 and worked in the Political-Military Bureau, but quickly joined the Foreign Service where my first post was in Cairo, Egypt. I learned Egyptian Arabic before being posted there, which is why you may hear me speak misry. Since joining the Foreign Service, I have been posted in Egypt, France, Tunisia, Morocco (with a brief stint in Libya), Colombia and now Mauritania. I have served half of my 32 years at the State Department in Washington, DC in the Bureaus of Counter Terrorism, Near Eastern Affairs, and Western Hemisphere Affairs, as well as in the Operations Center and the Executive Secretariat where you travel with the Secretary of State for domestic and international trips. I had the pleasure of working with Madeleine Albright when I worked in the Executive Secretariat and went to more than 20 countries during six months alone. I now live in Nouakchott with my four adopted Mauritanian cats who showed up in my garden one day with their mom. They must have known that I had adopted four cats in Morocco when I lived there!

2. You have now lived in Mauritania for more than a year. How do you find the country, its culture, and its people?Before I came to Mauritania, people in Washington DC told me to expect a beautiful country with generous and hospitable people, rich in natural resources and scenery. Even so, Ive been pleasantly surprised at how much Im enjoying my time here. My mom and I had the pleasure of traveling to Chinguetti and Ouadane, where we learned so much about the rich history at the crossroads of learning and scholarship. Near Ouadane, we got to experience the fascinating landscape by climbing to the top of the Eye of Richat. Ive also visited the National Parks of Banc dArguin and Diawling which are beautiful places to visit, see wildlife and just relax. And Ive also had the opportunity to enjoy the seafood of Nouadibou and see the beautiful coastline from Cap Blanc. I have found Mauritania to have such interesting landscapes and an incredibly rich history. And its true what they say about Mauritanians being legendary for their hospitality. Ive enjoyed so much tea and conversation, and many delicious meals since I got here more than a year ago.

3. How have U.S.-Mauritanian relations developed since your arrival in the country?The U.S.-Mauritania relationship remains a strong partnership built on trust, shared interests, and common goals. Since my arrival, Im proud to say that the United States and Mauritania have worked closely on an increasing number of priorities and projects. Ill highlight just a few of these partnerships: In March of this year, the U.S. government in partnership with Ministry of Justice and the Commissariat on Human Rights bolstered Mauritanias law enforcement efforts to identify and refer human trafficking cases through the justice system. On health, the U.S. government has donated more than 1.8 million doses of the COVID-19 vaccine to Mauritania, and we continue to work together with the Ministry of Health on future deliveries. And, last October, Mauritania hosted the most senior-level U.S. government visitor in recent memory, Principal Deputy National Security Advisor Jonathan Finer. Finers visit underscored our support for strengthening Mauritanias ongoing broad-based reforms. In addition to the visit by Mr. Finer, we have also hosted several other high-level visitors including the Deputy Commander of AFRICOM, General Smith, as well as the Ambassador-at-Large for International Religious Freedom Rashad Hussain. All of these visits point to the importance the U.S. places on our relationship with Mauritania.

4. As Ambassador, what are your priorities for the U.S.- Mauritanian bilateral relationship?Our goals for the U.S. Mission in Mauritania are to see Mauritania become more secure, democratic, and prosperous all of which enhance Mauritanias status as a stable and important U.S. partner in the region. To achieve this, we build on a strong foundation of bilateral cooperation as we seek to support the efforts of Mauritanias government, private sector, and civil society to increase economic opportunities, strengthen democratic institutions, and promote tolerance and human rights.

5. You became Ambassador to Mauritania in 2021, at the height of the COVID-19 pandemic. How do you view Mauritanias handling of the pandemic up to the present?The United States was one of the first countries to assist Mauritania with what was at first a disease without a vaccine. In 2021, we helped Mauritania acquire 3,000 difficult to find Viral Transportation Media (VTMs) and hundreds of thousands of Personal Protective Equipment (PPEs). The VTMs are vital testing supplies that helped Mauritania detect, prevent, and respond to the threat of COVID-19. The PPEs assisted the workforce and first responders safely carry out life-saving interventions.

When the vaccine capacity rolled out, the United States made available billions of COVID-19 doses to the world through the COVAX Initiative. To date, the United States has donated 1,843,410 COVID-19 doses to Mauritania. These vaccines have helped Mauritania to position itself as one of the most vaccinated countries in Africa. These are a combination of Astra Zeneca, Johnson & Johnson, and Pfizer doses.

Additionally, on the non-vaccine side, the U.S. has provided Mauritania with $6.3 million in COVID-19 Response Mechanism (C-19 RM) support, which is helping Mauritania mitigate the impact of COVID-19 on three Global Fund-supported diseases AIDS, Tuberculosis, and Malaria. Thanks to this effort, Mauritania will improve its local oxygen production, expand COVID-19 capacity-building through targeted training, and acquire medical supplies and equipment critical to the response. Last but not least, the Embassy is proud to work closely with the Ministry of Health on the Field Epidemiology Training Program, with $620,000 in funding from the Centers for Disease Control, to improve Mauritanias capacity to prevent, detect, and respond to public health crises.

6. The U.S. Embassy has been investing considerably in youth projects (Tamkeen $7m and Nafoore $17m). What are some of the outcomes that you expect from these initiatives?The global pandemic propagated isolation, which has been hard on everyone, American and Mauritanian alike. Add to that Russias aggression in Ukraine, which has had major effects on the importation of wheat, and contributes to inflation it hasnt been easy on Mauritanian youth. But young people under age 35 represent 70% of Mauritanias population and its greatest potential of human capital, and according to recent studies, disadvantaged youth lack employment or job opportunities, and they feel the lack of a supportive, enabling environment. In spite of all that, young people want to contribute in productive ways to their society. The American Embassy recognizes the great potential of Mauritanias young people and wants to support them in the most productive way.

The USAID program Nafoore (which means added value in Pulaar) aims to increase the resilience of vulnerable youth to resist radicalization and extremism by fostering skills training, vocational education and building supportive youth networks. Some of the outcomes of the project will include increased access to sustainable job opportunities, training on conflict mitigation, psycho-social support and inclusive, youth friendly spaces.

The USAID program Tamkeen (which means empowerment in Arabic) will strengthen Mauritanian youth capacity to lead positive civic change through leadership skills training in addition to building youth focused networks that promote civic engagement. Outcomes will include supporting locally based mechanisms for stakeholders to advance social cohesion, creating a learning focused platform, and recognizing and countering mis- and dis-information campaigns.

We look forward to opportunities to coordinate with other youth focused activities and to learning and adapting the activities to the extent possible to attain the highest positive impact on Mauritanian youth. Mauritania has so many resources and great potential.

7. The U.S. Embassy in Mauritania has worked to combat corruption in Mauritania. Could you describe some of the concrete steps the Embassy has taken to do so?The U.S. Embassy fully supports President Ghazouanis efforts to fight corruption, increase government transparency, and curb illicit finance. As detailed in the first-ever United States Strategy on Countering Corruption released last December, U.S. embassies have elevated anti-corruption work as a priority worldwide. We improved our risk management processes related to foreign assistance, and we supported partner governments capacity and will to counter corruption. Specifically, over the next year, the U.S. government plans to support local civil society groups to better advocate for fiscal transparency in Mauritania.

8. As violence in the Sahel continues to increase, what role will and/or does Mauritania have in the U.S.s strategy for the region?For the last eleven years, Mauritania has been an oasis of stability in an increasingly fragile Sahel. The U.S. applauds Mauritanias role in countering violent extremism and terrorist activity within its borders. Because we see Mauritania as a critical influence in strengthening regional security, weve invested heavily in the capability and capacity of Mauritanias military and security forces through a robust portfolio of cooperation programs. In the last year, the U.S. delivered an English language lab to the G5 Sahel Defense College; concluded a multi-year, $14.9 million support program for the Mauritanian Battalion supporting the G5 Defense Force; and sent military officers to advanced programs at elite American military institutions through the International Military Education and Training program. Mauritanias commitment to its own defense as well as to the stability of the region is key to future peace and a reduction in violence. The U.S. will continue assisting Mauritania to achieve these vital objectives.

9. Despite its relative political stability and security, Mauritania remains classified by the U.S. Government as high risk. Do you concur with that classification based on your time here?Actually, Mauritania is currently classified the same as many other countries, including Guatemala, Saudi Arabia, and Japan. The State Department reevaluates and changes these travel classifications as needed. You can read more about the U.S. Governments travel advisories at travel.state.gov.

10. Your accreditation as Ambassador to Mauritania a year ago coincided with the launch of The Key. What does The Key represent to you and your embassy?I cant overstate the importance that Americans place in the first amendment to our Constitution the one that talks about freedom of the press, and freedom of speech. A free press with journalists that research and report on stories important to the public, who are trained to analyze and explain is vital to a high-functioning democracy. Freedom of the press matters because without it, the public wouldnt know what was going on in their communities and their country. A free press informs voters and a democracy thrives on informed voters. For all these reasons, I applaud your initiative, and the hard work of all journalists across Mauritania. In addition, an English-language newspaper aligns well with the Embassys efforts to promote English language capabilities amongst young people in Mauritania, helping them to communicate in todays world language while building technical and professional skills. I congratulate you for your efforts and accomplishments in the last year as the only English-language newspaper in Mauritania.

11. Current oil exploration presents Mauritania with a potential future as an oil exporting state. What are your views on this development and how do you feel Mauritania could best leverage the discovery of oil to support domestic development?Hydrocarbons production certainly has the potential to transform Mauritanias economy over the next decade and, from what I have seen, this potential is being realized with the Phase 1 implementation of the Greater Tortue Ahmeyim (GTA) project operated by BP and the American company, Kosmos Energy. In addition to the oil and gas projects, the U.S. government and the U.S. private sector are very excited that Mauritania is establishing itself as a renewable energy leader on the continent. By leveraging its unique natural resources and geography, and partnering with international firms, solar and wind energy could make Mauritania an energy exporter. More importantly, these renewable energy projects, coupled with the GTA project, could deliver cheap, reliable electricity throughout Mauritania and allow for new industries to grow. And, as Mauritania begins to see significant revenue from these projects, the U.S. Embassy will support efforts to ensure that all Mauritanians benefit from the countrys wealth of resources.###

By U.S. Embassy Mauritania | 24 June, 2022 | Topics: Ambassador, News, Speeches

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Ambassador Kierscht Interview with The Key - US Embassy in Mauritania - USEmbassy.gov

All-Options Pregnancy Resource Center, a Bloomington nonprofit focused on reproductive care, recently has been fielding about 60 to 75 requests for abortion funding per week, according to State Programs Manager Jessica Marchbank. All-Optionscan only fund about 30 at a time.

Each week the volunteers listen to every voicemail and read every text message seeking help in obtainingan abortion. Marchbank has to prioritize exacerbating circumstances such as minors, people in domestic violence situations or those experiencing homelessness. Next, she considers those with a higher gestation, such as those who are 10 weeks or more pregnant.

I cannot tell you the number of times people have just thanked me, not for funding them, but for treating them like a human, she said. At first it felt really awesome. And now it actually feels really terrible. Because I shouldnt be getting a pat on the back for treating someone like a human being.

More: Supreme Court overturns Roe v. Wade, eliminating constitutional right to abortion

The Supreme Court on Friday released an opinionoverturning Roe v. Wade, returning to each state the ability to determinea pregnant persons access toabortion. For now, access to abortion remains legal in Indiana.

A majority of adult Americans, 61%, believe abortion should be legal in all or most cases, according to a Pew Research Center poll conducted in March 2022.

Abortions are still going to happen, Indiana University professor of law Jody Madeira said, but maternal mortality rates will increase. In Indiana, the maternal mortality rate is already about 3 times that of the national rate, according to the Centers for Disease Control and Prevention. And if the cost to access an abortion rises, more pregnant peoplewill attempt to self-abort, she said.

Indiana's lawmakers appear poised to further restrict or ban access to abortion in the state. Lawmakers penned a letter to Gov. Eric Holcomb asking him to call a special session and he has, albeit for a different reason. The session is scheduled for July 6, meaning access in Indiana could change dramatically within weeks.

LaKimba DeSadier, Indiana state director for Planned Parenthood Alliance Advocates, said Planned Parenthoods doors, including Bloomingtons, will remain open for reproductive care even if abortion access is restricted or totally banned.

More: Indiana poised to limit abortion access after Supreme Court ruling overturning Roe v. Wade

No matter what, we will encourage our patients to continue to reach out to us to get help to help navigate their options, she said.

That reproductive care includes determining if a patient is pregnant and what they may need in lieu of seeking abortion care in another state, DeSadier said, but Planned Parenthood must comply with the law.

In 2019, Illinois lawmakers ensured access to abortion care by declaring it a fundamental right. Indiana and surrounding states are expected to outlaw abortion in most instances, so Illinois will become a safe haven for pregnant people. Tennessee abortion services provider CHOICES has plans to open a new clinic in Carbondale, Illinois, about a four-hour drive from Bloomington. The clinic is scheduledto open in August.

Abortion Finder is one resource for people seeking care close to them, DeSadier said.

People should also be aware that there are organizations known as Crisis Pregnancy Centers that on the surface appear to offer womens health care, but in fact are not staffed by medical professionals and exist solely (to) keep women from having abortions, she said.

In Bloomington, the Women's Care Center is such an organization.

Marchbank said she could help more people if she had the money, but All-Options isfunded solelyby donations and grants. She has to tell those she cant help to wait a week or two and try again.

It doesnt feel great to suggest to someone who doesnt want to be pregnant, to be pregnant longer, Marchbank said.

This year, All-Options has aided more than 400 people in accessing abortion care, Marchbank said, including financial assistance, connecting people to a clinic or supporting them around their decision. So many people feel stigmatized, she said.

In addition to abortion funding, All-Options offers diapers, wipes, clothes, pregnancy tests and more for pregnant people and families in need. Anyone can request supplies or seek help.

Anyone in need, we dont ask them to prove anything, she said.

All-Options supports any choice a pregnant person makes, Marchbank said, whether that be parenting, adoption or abortion.

We dont have a stake in the outcome of that pregnancy, she said. Whatever you decide, were here.

More: Indiana abortions by the numbers: How many people have procedure here

All-Options services aid about 200 families a month. Every month new people are seeking supplies or parenting resources, Marchbank said.

Planned Parenthood has patient navigators, a team of people who work with anyone who has questions or concerns and who can help patients with financial or logistical support, DeSadier said.

Were going to build and reclaim the freedom that is ours, she said. We will never stop fighting to restore and defend the rights of people seeking sexual and reproductive health care.

All-Options volunteers undergo 40 hours of virtual peer counseling training and pregnancy option workshops to support people without bias, Marchbank said.

People arent used to being able to talk to someone about their options in just an open-hearted way, she said. Our training is designed to help people recognize their own bias and be able to meet people where they are and help them in a judgment-free way.

Marchbank said the nonprofit also offers a support line that is answered solely by members of the clergy, so callers can talk to a religious authority who has been trained and is comfortable talking about and supporting abortion.

A lot of times, people may come from a religious background, and they may want to have an abortion, she said. And while they mostly feel OK about it, sometimes they need to talk to somebody in the faith that theyre in.

Currently, the law inIndianamakes it difficult toget an abortion past 13 weeks, six days, Marchbank said.

All-Options will continue the same work regardless, including funding people to go out of state to receive abortion care, Marchbank said, which the organization does now. Some people prefer to go to clinics in states such asIllinois, where laws regarding abortion are more friendly, she said. About 40% of those receiving abortion funding from All-Optionsalready go out of state.

The organization plans to keep providing essentials, care and supporting access to abortion. Marchbank said shes hopeful her budget will increase during the next fiscal year, as there was aninflux of donations afterthe Roe v. Wade opinion was leaked.

Futures Family Planning Clinic does not provide abortion services, but does provide birth control counseling and supplies, exams, pregnancy counseling, STD testing, emergency contraception and more.

Monroe County Health Department Administrator Penny Caudill said reproductive healthcare is always important. Access to education, healthcare, and birth control is essential to reducing abortions, she said.

With Roe v. Wade overturned, pregnant people will have fewer options, Caudill said.

It will become more complicated for people to get information in a timely manner so that they can make their decisions and act accordingly, she said.

The Futures Family Planning Clinic, which has been open since 2006, is a Title X clinic, meaning it receives funding to provide comprehensive family planning and preventative health services, according to Health Resources & Services Administration.

What we can do is give people information on all their choices, Caudill said.

Anyone can come to the clinic, no matter their income. Caudill said the fee for services is on a sliding scale, meaning those who make more pay a higher fee than someone with a lower income.

People of color and people in rural areas will be disproportionately harmed by an abortion ban because of where they live, DeSadier said. According to USA Today, manystates in the South and Midwest have restrictive abortion laws ready now that Roe v. Wade is overturned.

Madeira saidlawmakers in states including Indiana now will be able to pass restrictive abortion laws and criminalize abortion.

Overturning Roe v. Wade is not a solution, DeSadier said. Its just not. Elected officials will be doing harm to so many groups of folks, intentionally or not intentionally.

More: How access to abortions has changed in Indiana since Roe v. Wade

Voting, DeSadier said, is essential for constituents to hold their elected officials, who are determining what people can do with their bodies, accountable.

Madeira said the ruling is the most socially, culturally and legally far reaching overturn she can remember.

Weve had that right for 50 years, she said. Weve learned that that right is critical to United States society.

A federal law could take the place of Roe v. Wade in protecting abortion access, but it would be extremely difficult to pass, Madeira said.

Its an earth-shaking development,"she said."Its a development that suggests that no precedent is safe.

Reach Luzane Draughon at ldraughon@gannett.com or @luzdraughon on Twitter.

Read more:

Roe v. Wade overturned: How will it affect abortion access in Indiana - The Herald-Times