Kansas State Treasurer Jake LaTurner asks Congressional Delegation to include $26-billion in savings bonds in next stimulus package
Topeka- Kansas State Treasurer Jake LaTurner today sent an open letter to the Kansas Congressional Delegation strongly encouraging them to push for the U.S. Savings Bond Act to be included in any future stimulus package that is brought forward in Congress.
On background: The Federal Government now has an estimated $26 billion of matured and unclaimed US Savings Bonds that are no longer paying interest and need to be re-united with the people of the United States, and it is estimated that over $157 million of that belongs to Kansans.
A large majority of the bonds were issued before 1974 and many were issued in support of the war efforts during World War II. Unfortunately, the rightful owners or heirs to these bonds are often only able to claim their money if they have the actual bond serial number.
After an unsuccessful battle in the U.S. Court of Appeals asking the U.S. Treasury to release the data that would allow the states to identify owners of these bonds and reunite them or their heirs with their money, the Kansas federal delegation, led by Congressman Ron Estes, have taken this matter to Congress to get it settled.
Kansas State Treasurer Jake LaTurner believes the best method for settling the matter would be to include it in an upcoming stimulus package. He sent the following letter urging this action:
Dear Kansas Congressional Delegation;
As Treasurer of the State of Kansas, I would like to personally thank former Kansas Treasurer and Congressman, Ron Estes, Congressman Roger Marshall and Senators Moran and Roberts, for your leadership and support to bring an end to the long, hard-fought battle to return the $26-billion in U.S. Savings Bond money to the people of this country. As you know, Kansas has been the leader in challenging the U.S. Treasury through the courts, asking them to turn over the U.S. Saving Bond data to the states, enabling state treasurers throughout the country to reunite unclaimed U.S. Treasury Bonds with their rightful owners.
The purpose for my letter today is to strongly encourage you all to push for the U.S. Savings Bond Act to be included in any stimulus packages that are brought forward in Congress. If Congress is going to continue to find ways to put money in American’s hands they should start with the $26-billion that the U.S. Government already owes them. The U.S. Treasury has held on to this money long enough. So many people in our country are currently dealing with severe financial hardship. Now is the time to return this money to the dedicated American citizens who invested in their country years ago during its time of need.
I assure you that we have the systems in place in Kansas to receive these records and begin working right away to return this money to its rightful owners or heirs. This will be a great help to so many in our state who are trying to provide for themselves and their families during these uncertain times.
Thank you again for your work to get this matter settled.
Kansas State Treasurer
Additional links to background articles on the U.S. Savings Bond case can be found in the news section of the Kansas State Treasurer’s website: https://www.kansasstatetreasurer.com/news.html
Feel free to email firstname.lastname@example.org with the Kansas State Treasurer’s office with additional questions.