>> the senate this week taking up judicial nominations, follow that debate on c-span2. reporters tried to ask questions about today's indictment of paul manafort and two other trump campaign officials. tomorrow, testimony from google, facebook and twitter on russia's use of social media and its influence in the 2016 election. that hearing taking place in front of the senate judiciary subcommittee and more from those same social media executives on wednesday as they testify in front of the senate intelligence committee at 9:30 and at 2:00 p.m. before the house intelligence committee. see both hearings live on

c-span3. you can watch online at c-span.org or listen on the free -span radio app. >> during thursday's "washington journal" we're live in austin, texas, as part of the c-span bus 50 capitals tour. former texas state senator wendy davis will be our guest on the bust starting at 9:30 a.m. eastern. >> it's time for our "your money" segment, we're focused on 401k and retirement programs. our guest, dough misher of -- fisher of the american retirement association, retirement policy director. you have heard as much as we about what could happen. potentw that affects people and retirement savings. to be yes, pedro, great with you this morning, very timely topic. debate and what is going on here. right now, a lot of rumors and about the white

house and house and senate using cans using the -- private retirement system to fund other tax cuts, for example. we have not ution seen a firm proposal from the house or the senate as of yet. think that will come out this week, wednesday, we'll have a irmer gras 've upon what is going on there. rumorrrent proposals, the is that or speculation is that dip ouse republicans may into the private retirement system to the tune of several billion dollars to finance other tax cuts, for example, corporate individual. would do that by requiring amount of employee contributions that would be nstead of pretax, would be after tax. in the roth style of contribution, tax benefits are different place compared to pretax.

the taxes bution, are -- you pay when you make your contribution, employee contribution to 401(k) and the earnings accumulate tax free at retirement and come out there. are -- you pay when you make still both ways have tax it dependos your particular situation. that is sort of what is on the table right now. host: changes describe, as you describe them, happen, who is liable?d who what is the best and worse case scenario? well, again, i'm going to depends.ld adage, it hat happens is that the pretax contribution is what most people are used to in the 401(k) plan, and make a contribution take immediate deduction for taxes. n the other side, a roth contribution says you pay taxes today, generate revenue and epublicans would -- are thinking about although we don't have a proposal, pedro, thinking say setting a limit, somewhere like 24-2500 dollars there, anything

after that, for employee contribution to 401(k), would be and you pay your tax. but the exchange you get is those earnings on those contributions above $2500 or wherever they set the limit if do, they come hey out tax free of retire sxment tax benefits surround that. use it for you can income planning, you can use to maximize your social security, medicare, it gives you flexibility. worry aboutat we do american retirement association 20,000 strong professionals that corners of retirement, if they just merely grab revenue, f dollars of and don't reinvest some of the oney to improve their retirement security of workers, for example, expanding coverage increasing benefit security, then that is going to be a problem. 25 : our guest for the next minutes, if you want to ask questions about how 401(k)

programs nd similar could change under work on tax ca202-748-8001 for republicans. 202-748-8000 for democrats and for independents. tweet us at cspanwj, as well. means kevin brady spoke about the potential changes and weekend, after the listen to a portion of his thinking at the time and get it.r thoughts on >> he calls me regularly about tax reform. areas of out specific it and so he's out selling this reagan-style a reform, but a trump-style incredibly p is helpful. the 401(k) area, look, we have a goal. to save more ans and save earlier. pro-growth tax reform done right can achieve that. host: the last portion, he tax room could achieve that, any speculation how that could be achieve? ed

well, again, there is a views from the white house and republicans and so on. it sounds like the chairman is quoting from the unified framework, which was reform plan ago, put out couple weeks which really says tax reform in and of itself should have goal expanding or maintaining tax incentive toward retirement. very, very hard to tell what they're really trying to at here in that and the sayinghing they might be is the thing pedro, we just move about, if they do into this part roth contribution, part pretax, applies to only employee contributions, all for yer contributions, example, matching contributions or profit sharing or contribution to defined benefit

plan, those remain pretax, that is something people should keep part f. only a small he's say thering through political speak, that they're offer improvements to the system, along with this roth hange, for example, if they wanted to expand the government's matching for, it is called saver's credit, they increase it a thousand to 2000 dollars r increase the eligibility, that in essence can compensate for the taxes somebody might pay under new roth system. so if they're signalling some of those, we need to step back and on balance do -- does it meet principles of what we in?ieve expand retirement security, increase number of people in the overall increase retirement wellness? host: does it surprise you these targeted in being this concept? seems to me like third rail,

ocial security and other types of things. guest: we wish the private retirement system wasn't like but it seems , that every time we go into a tax manym debate and we've had since 1986, which was the last retirementeform, the ystem and the government tax subsidy, support, is always in play. host: let's go to the first ray in lake dallas, texas, democrat's line, you are on with go ahead.r, caller: hey, pedro, love c-span. hear youuglas, nice to this morning. just the ideology of the republican party, they tax cutss trying to do and this thing about trickle-down economics nmy stimation, trickle-down economics simply don't work. every tax plan, they always want

make it so it soupds like everybody is getting a often in the t end, it is always the rich getting the tax cut. okay. and say, we around want to get every american to and make money and all this great stuff. he problem is that when the money does filter in to the they're not giveing that out to jobs or anything else, all that money is going the c.e.o. of the company. host: ray, thanks. ray, it's a ow, point that many people have. we one of the things if think in the context of policy is to make writers decide to dip into the private retirement system for revenue, reinvest take that and back in the system so low sxer working americans

can get extra saver's credit, ave more in plans, have better access, simplify the system, get better financial education. a good portion of that should be targeted toward improving the system. that is maybe one place we can address that important question you have. host: here is dan from goose reek, south carolina, independent line. greekt yeah, good morning, pedro and mr. fisher, good morning to you, too. we are a nation of over $350 people and my question basically is, of that $350 of us, how many of us really have any retirement in street whatsoever percentage wise? have never heard a number about how many of us really are there and how important this is majority of the people, not the minority, but majority in this country.

guest: yeah, i can try to address what i know on private is a ment system there popular statistic that says of workers have access to retirement plan and are system.pating in the and again, there are a lot of ther people that are part-time or full-time for part of the don't have ly that access to plans. so that is the statistic normally. thing we're trying to do ere in retirement policy is to increase that $50 million level of participation. mores increase that to get people in the system to upplement safe and secure retirement. host: boston college, the balance rise from 2016 for o -- in working households, i'm sure the

figures aren't uncommon to you? not.: they are we track the figures and one of you find in a number of studies, pedro, is that people underreport how much they have. they might have some in 401(k) ira, wo 401(k)'s, in an consolidate that prt, the picture isn't so dire in many cases, but our goal is steadfast and increase number of people in need stem special we congress' help to do that. we are watching the debate closely. beginning of he the program. we need to help people save ore, especially lower and middle income. host: obama administration tried myra program, if i understand, that was announced it folded the government doesn't do well dictating these thing? uest: well, i think a couple things happened there with the meyer meyer m/* myra program, small businesses could voluntarily

employees at a level of ontribution they would elect and i think there is combination of, you know, many small afford es can't retirement plan nor do, there is evidence workers don't value it a certain point in terms of their income level. and the program was not well known. and then the other thing that happened is the new administration came in and program, cost of the which i understand was around 20,000llion and some like accounts. they decided the cost benefit wasn't worth it. american on at the retirement association is, let's increase incentive for small fill that gap. it is small businesses that actually, once they have the set up a plan, is required under the rule to enroll employees. so that is the system we're trying to promote. host: 202-748-8001 for republicans. for democrats, 202-748-8000, and

202-748-8002. michael is next, in louisiana, line.ican go ahead. caller: yes, gentlemen. an r much, i used to be armoured car driver that hauled to do a study into the banking system. i realized most political issues resolve around the $20 trillion that. i had to study that $20 trillion was spent by our government on programs, a military programs and they can't use that as an excuse programs, they shouldn't touch tax reform. paid off and be in this lifetime. a trillion dollars, i've seen trillion dollars in realtime, you're talking football field, if you stack $1 trillion end, goes 638,000 miles into space, cannot be used as an excuse and put that on top

of people to pay that off. years to pay that off in realtime, with us paying it legitimate rates, but most political analysts say the trillion debt was spent and as an 't be used excuse -- host: michael, thanks. anything from that? guest: pedro, a comment about the debt. large portion of debt when i was was from he hill entitlement programs, especially social security, social security universal retirement program for working americans as baseline. it comes back to if we can get people into private retirement system it takes pressure off the debt. ost: former finance committee congress

-- so obviously the lobbyists are all gearing up, so-called lobbyists are all gearing up to protect their here, t, just as we are protecting retirement interest of working americans and plan and so on. once the program gets, the proposal is put on the table and mark-up, there is just going to be a lot more bringing aging and to rmation to the table reform.x host: steve in illinois, hi there. hello.n illinois, on right now. my question is what happens to omeone who had early

retirement, have funds they have ept were they were working and , what is going to happen? able to get work. retired at 58 because of medical problems and since then, i tried getting part-time work becausen't get anything of some glitch in the system. doing, , what i've been using resources that i had saved working period as funds

me to leave on day-to-day basis. -- less than one third has been used up, i've time.sing a little at a my question is, what is going to reform?with the new tax would that still be okay, seeing onwas prior to what is going now? host: thanks, caller. not seen , so i have anything from capitol hill that current roth our ira program. host: from connecticut, don, hello. line, caller: hi. want, what i'm interested in, confirm standard 6-3, vate industry, employee contributes 6% and the contributes 50% up to the 6% of 3. live in a town of south

windsor, connecticut and basically spending 24% on pension,

for those who have act stose a plan, the actual number of participation can be as high as around 70% to 80% if they have access to the plan but it's about 54% of people have access to the -- access to the plan. that's where we need to increase access to retirement plans by simplifying and increasing -- >> wall of "washington journal"

available online at c-span.org. as you can see, the defense secretary, james mattis, and secretary of state, rex tillerson, coming into the room. this is the senate foreign relations committee, a hearing to review the authorization of e use of military force from 2000 and 2001 and the hearing should get under way shortly. senator cardin in the room, senator corker as well, the chairman of the committee.