Encouraging Americans to Save Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 30, 2020)
Encouraging Americans to Save Act
This bill sets forth provisions to provide matching payments for retirement savings and Individual Retirement Account (IRA) contributions for individuals who have attained age 18, excluding dependents and full-time students. Specifically, it allows an enhanced 50% tax credit, up to $3,000, for deductible retirement savings contributions and for IRA contributions.
The bill also directs the Department of the Treasury to establish a permanent program to be known as the MyRA Program to allow individuals or employers to establish a Roth IRA. Treasury must also take steps to increase public awareness of the benefits of this bill and the MyRA Program in particular.
What just happenedJun 30, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 30, 2020
- Jun 30, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 30, 2020IntroReferralIntro-H
Introduced in House
- Jun 30, 2020IntroReferral1000
Introduced in House