ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release March 31, 2004 #04-19
E-mail: [email protected]

AMERICA’S COMMUNITY BANKERS ENDORSES JOHNSON-THOMAS LIFETIME SAVINGS ACCOUNT BILLS

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WASHINGTON, D.C. — America's Community Bankers, the national trade association for community banks, endorsed legislation today that would broaden the types of tax-favored savings programs available to consumers by creating Lifetime Savings Accounts. The bills were sponsored by Rep. Sam Johnson (R-Texas) and Sen. Craig Thomas (R-Wyo.).

“Increased tax incentives will help raise the savings rate, which has fallen dramatically in recent years,” said Diane Casey-Landry, ACB’s president and CEO. “Expanded incentives are also essential if Americans are to meet their needs for savings in retirement,” she added. “And, increased savings will help community banks fund the lending needs of their communities.”

ACB has been a long-time supporter of expanding tax-advantaged programs to increase savings for retirement and other purposes.

“We thank Rep. Johnson and Sen. Thomas for their initiative and will work with them and the Congress to achieve enactment of this important program,” Casey-Landry said.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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