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Ted Cruz: “Over 70 years ago, Congress passed section 401k of ERISA.”

Featuring: Ted Cruz, Republican | U.S. Senate, Texas

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Donald Trump's New Deal: Ted Cruz Shares The Inside Scoop Trump Accounts

Published | Video Starts at 11:34

And we deliberately wrote it so that there were two accelerators to make the capital appreciation happen more quickly. Number one, employers contributing and matching. And this is a big deal. Think about 401ks. Yeah. You know, Over 70 years ago, Congress passed section 401k of ERISA. And at the time, I doubt anyone in Congress understood how fundamentally they were changing how Americans save for retirement. Trump accounts are 401ks for kids. (11:34–11:40)

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Asserts that Congress passed section 401k of ERISA over 70 years ago.

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