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Administration Proposes Changes to Encourage Savings

By Kathleen Schalch

Published February 3, 2003 at 12:00 AM EST

The White House proposes major changes to encourage individuals to save more money toward retirement. The plan would replace Individual Retirement Accounts with personal-savings accounts featuring higher allowable contributions. Critics say the proposals would increase federal deficits. NPR's Kathleen Schalch reports.

Kathleen Schalch

Kathleen Schalch is a general assignment reporter on NPR's national desk. Her coverage can be heard on NPR's award-winning newsmagazines Morning Edition, All Things Considered, and Weekend Edition.

Stories From This Author

Mergers Help Airlines, Not Consumers

Kathleen Schalch

The merger of Delta and Northwest has a powerful foe in Congress. James Oberstar, chairman of the House Transportation and Infrastructure Committee, says it will lead to other mergers that will mean higher fares and fewer choices for consumers.
Lawmakers Outraged by FAA Safety Violations

Kathleen Schalch

Investigators and whistleblowers told a House committee Thursday that the Federal Avaiation Administration was too cozy with irlines and failed to exercise the oversight required by law. FAA inspectors say they were pressured to gloss over problems at major airlines.
U.S. Food Aid Critics Call on Congress for Overhaul

Kathleen Schalch

Congress is finishing up a massive farm bill that will set U.S. policy for the next five years. Among other things, it funds the food aid program, which is sending half as much food to hungry people around the world as it used to. Critics say this is a life-and-death matter.