As Democrats look ahead to rebuilding and focus on elections in 2026 and 2028, party leadership has an urgent responsibility to regain footing with critical constituencies like working class voters and, in some cases, relearn how to communicate with critical voting blocs. On this score, the economy stands out.
President Donald Trump’s win was driven in part by his ability to connect with voters on economic issues. Democrats, meanwhile, faced skepticism about their capacity to deliver financial security, with only 45 percent of voters believing the Democratic Party was better equipped to manage the economy.
Regaining economic credibility with voters will require addressing the deep insecurities felt by a large share of workers and families. Democrats should start by fighting to give them access to the tools they need to build wealth and achieve financial stability and security.
Consider retirement savings, which are the number one source of wealth for American households. According to the Federal Reserve, over one-quarter of non-retired adults have zero saved for retirement. This is in large part because more than 50 million Americans – many of whom are lower and middle income -– lack access to employer-sponsored retirement plans.
Lawmakers who want to tackle this challenge and create an opportunity for real bipartisan policy innovation should look no further than the Retirement Savings for Americans Act (RSAA). This legislation would provide tens of millions of workers who are being left behind today with access to a plan and incentives nearly identical to the retirement benefits enjoyed by members of Congress and their staff.
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The RSAA has already garnered bipartisan support in both the Senate and the House of Representatives, as well as endorsements from a wide range of nonpartisan and bipartisan experts and organizations. The bill exemplifies the type of cross-party collaboration that voters increasingly demand. In an era of political polarization, Americans are hungry for pragmatic solutions that transcend partisan gridlock. Championing RSAA will provide Democrats with a tangible, bipartisan policy achievement to present to voters.
Of course, Democrats have long been champions of social safety net programs like Social Security and shouldn’t give an inch in fighting to preserve the future of those vital programs. But Democrats must also work to take the pressure off the safety net by expanding access to the wealth-building tools and incentives that upper-income Americans have long taken for granted.
This is particularly important as Democrats work to rebuild trust with voters who may have felt disillusioned in 2024.
By supporting policies like the RSAA, Democrats can reinforce their party’s commitment to creating economic opportunities – especially for low- and middle-income workers who are largely excluded from traditional retirement savings programs. Such an approach can reinvigorate Democrats’ appeal to moderates and independents, who simply want Washington to work on their behalf, not get mired in ideological spats.
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As someone who has long served as a Democratic Party surrogate and spokesperson on the Harris, Biden, and Clinton presidential campaigns the past three presidential cycles, I’ve seen firsthand the power of policies that resonate with working-class Americans.
Whether it was championing better wages, expanding healthcare access, or protecting Social Security, our campaigns emphasized the Democratic Party’s enduring commitment to lifting up hardworking families. Closing the gap in the U.S. retirement savings system would build on that legacy, providing greater economic stability for millions of Americans who are working tirelessly to secure a better future for themselves and their children.
The stakes could not be higher. While President Biden’s administration achieved historic legislative successes on major economic bills that helped achieve record job growth, many Americans were still dealing with the effects of high costs and inflation. Many Democrats, frankly, weren’t listening to their concerns. We are now, and we’ve got to show it.
The path forward is clear, and Democrats have a lot of work to do. It’s time to seize the initiative, address voter concerns about financial security, and rebuild trust as the party that delivers on its promises for American workers.
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