Encouraging Americans to Save Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 30, 2021)
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 happenedApr 30, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseApr 30, 2021
- Apr 30, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Apr 30, 2021IntroReferralIntro-H
Introduced in House
- Apr 30, 2021IntroReferral1000
Introduced in House