Chairman Rick Scott of the U.S. Senate Special Committee on Aging led a hearing in Washington, D.C., focused on the positive contributions of seniors to the American economy. The session, titled “Aging with Purpose: The Positive Impact of Seniors in Today’s Economy,” examined how older Americans support local communities and the broader economy through work, caregiving, volunteering, and lifelong learning.
Expert witnesses at the hearing included Jon Taffer, chairman and CEO of Taffer Dynamics; Dr. Paul Broadie II, president of Santa Fe College in Florida; and Rachel Greszler, Senior Research Fellow at The Heritage Foundation. Their testimonies emphasized that seniors continue to play an important role in the workforce even after retirement.
Chairman Scott addressed attendees by stating: “The U.S. Senate Special Committee on Aging will now come to order. I want to thank you all for being here today.”
He highlighted that the purpose of the hearing was to discuss not only issues relevant for older Americans but also for future generations preparing for retirement: “We’ve gathered to discuss a very important topic, not just for our aging community, but also for generations planning for retirement and for those who won’t be retiring for several decades.”
Scott discussed the importance of purpose among seniors: “Today’s hearing will focus on the beneficial impact of purpose in the lives of our seniors, and what we can do as elected officials to help foster a purpose-filled life for our aging constituents.”
He further explained that keeping seniors engaged benefits both individuals and society: “Purpose and fulfillment are powerful forces that enrich families, strengthen communities, and support the health and longevity of our nation and its people. Having a purpose is an essential part of the American Dream, and it has long been an indicator of both mental and physical well-being across all age groups.”
Scott described various ways older adults find purpose after retirement—through business creation or volunteer work—and said these activities bring rewards such as connection with others and improved well-being: “However, we should see this phase of life is a new chapter one where older Americans are empowered to stay active, pursue passions, and give back in ways that matter to them, all while reaping the rewards of connection, community, and better physical and mental well-being.”
He called attention to research linking engagement with better health outcomes: “Research shows that older adults who remain engaged—whether through volunteering, mentoring, or taking on new responsibilities—experience greater physical health, mental resilience, and life satisfaction.”
Scott noted barriers faced by some retirees who wish to stay active or start new businesses: “We need to remove the red tape that hampers or discourages older Americans from continuing work or starting new businesses or careers.”
He stressed economic policies implemented during his time as Florida governor aimed at supporting retirees: “During my 8 years as governor [of Florida], we cut taxes more than 100 times and slashed more than 5,000 burdensome regulations...Florida businesses added 1.7 million jobs...and we managed to increase the efficiency of government...including for our seniors.” He added that these measures have made Florida attractive to many retirees seeking financial stability.
Scott concluded by saying he looked forward to further discussion on helping seniors pursue purposeful lives.
