Do Small Businesses (Still) Back Mandatory State-Run IRAs?
A new report suggests that small business owners broadly support state-run IRA programs — with the strongest backing among newer firms. Or at least they did. The just-published survey comes from Pew Charitable Trusts, which has previously (and consistently) chronicled support for these programs among small businesses. This latest was conducted among employers in three states where that type of legislation has been introduced: Massachusetts , Pennsylvania, and Washington . According to Pew, support is strong across the board: 84% of respondents in Massachusetts, 76% in Pennsylvania, and 73% in Washington favor establishing an automated savings program (ASP). The report also highlights bipartisan backing, with majorities of Republican, Democratic, and independent business owners expressing support. It further finds “statistically significant” support among newer firms, those with moderate revenues, service-sector businesses, and — perhaps n...