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HR 2167 110th Congress House

Automatic IRA Act of 2007

Official title: To amend the Internal Revenue Code of 1986 to allow employees not covered by qualified retirement plans to save for retirement through automatic payroll deposi… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to allow employees not covered by qualified retirement plans to save for retirement through automatic payroll deposit IRAs, to facilitate similar saving by the self-employed, and for other purposes.

Introduced: September 10, 2007 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
Taxation CommerceExecutive reorganizationGovernment Operations and PoliticsIncome tax
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Individual retirement accountsLabor and EmploymentPayroll deductionsSmall businessTax credits
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 17, 2007
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
May 4, 2007
Sponsor introductory remarks on measure. (CR E953-954)
May 3, 2007
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 3, 2007
Introduced in House
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 Latest action July 17, 2007

Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

 Plain-English summary Congressional Research Service

Automatic IRA Act of 2007 - Amends the Internal Revenue Code to: (1) require certain small employers who do not offer qualified retirement plans or arrangements to their employees to allow eligible employees to participate in a payroll deposit individual retirement account (IRA) arrangement (automatic IRAs); (2) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing a payroll deposit IRA arrangement; and (3) treat automatic IRAs as individual retirement accounts (and as Roth IRAs) for income tax purposes.

Establishes in the executive branch the TSP II Board to establish policies and procedures relating to payroll deposit IRA arrangements.

 Related & companion bills 1
  • S 1141 Identical bill Automatic IRA Act of 2007
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 8
All 8 Democratic 6 Republican 1
D
Van Hollen, Chris
Maryland · Apr 14, 2008
 D
Johnson, Henry C. "Hank"
Georgia · Apr 9, 2008
 D
Lofgren, Zoe
California · Oct 10, 2007
 D
Sánchez, Linda T.
California · Oct 2, 2007
 D
McGovern, James P.
Massachusetts · Sep 10, 2007
Fortuno, Luis
· Jul 11, 2007
 R
Issa, Darrell
California · Jun 5, 2007
 D
Larson, John B.
Connecticut · May 3, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2167: Automatic IRA Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-2167/
MLA
"H.R. 2167: Automatic IRA Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-2167/.
Bluebook (legal)
H.R. 2167, 110th Cong. (2026), https://openamerica.io/bill/110-HR-2167/.
Markdown link
[H.R. 2167: Automatic IRA Act of 2007](https://openamerica.io/bill/110-HR-2167/)
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