WASHINGTON – U.S. Senator Maggie Hassan, a member of the Senate Finance Committee, cosponsored bipartisan legislation to help Americans claim more than $26 billion in unredeemed savings bonds. The Unclaimed Savings Bond Act of 2021 would require the Department of the Treasury to provide information to states to help the states locate the rightful owners of bonds that the Treasury deems are either lost, stolen, destroyed or “unclaimed.” The bill was introduced by Senator John Kennedy (R-LA).
“The federal government needs to help return billions of dollars in unclaimed savings bonds that belong to Granite Staters and Americans,” Senator Hassan said. “This bipartisan bill will help reunite these billions of dollars with their rightful owners, and I am glad to be partnering with my colleagues across the aisle on this commonsense bill that helps put money back into people’s pockets.”
This bill complements Senator Hassan’s ongoing efforts to put money back into taxpayers’ pockets. Senator Hassan previously cosponsored the bipartisan Retirement Savings Lost and Found Act to return billions of dollars to Americans through a national, online “lost and found” website to track retirement accounts as people move between jobs. As Chair of the Emerging Threats and Spending Oversight Subcommittee, Senator Hassan is also working across the aisle to reduce waste, fraud, and abuse in the federal government, and recently introduced a bipartisan bill to address ridiculous waste in the federal government by transferring $1.5 billion that is currently sitting unused in a federal account to the Treasury’s general fund. Furthermore, in 2019, former President Trump signed into law bipartisan legislation introduced by Senators Hassan and Bill Cassidy (R-LA) to close a loophole in the Medicaid rebate program that results in big pharmaceutical companies overcharging taxpayers. The bipartisan legislation will save taxpayers approximately $3.1 billion over the next 10 years.