FILE - A traders works on the floor at the New York Stock Exchange in New York, Nov. 10, 2022. A section of the $1.7 trillion spending bill passed Friday has been billed as a dramatic step toward shoring up retirement accounts of millions of U.S. workers. But the real windfall may go to a far more secure group: the financial services industry. has been billed as a dramatic step toward shoring up retirement accounts of millions of U.S. workers.
But as with so many far-reaching spending bills that get little public consideration, provisions of the legislation also benefit corporate interests with a strong financial interest in the outcome. Companies like BlackRock Funds Services Group, Prudential Financial, Pacific Life Insurance and business lobbying groups such as the Business Roundtable and American Council of Life Insurers are only some of the entities that lobbied lawmakers on Secure 2.0, SenateKatherine DeBerry, a representative from Prudential, said the firm applauds the passage of Secure 2.0, stating that it"will help ensure employees’ retirement savings last a lifetime.
Pork and more pork. Democrats or Republicans aren't concerned where our hard earned money goes to. Tax and Spend.