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S 3636 115th Congress Senate

Encouraging Americans to Save Act

Official title: A bill to amend the Internal Revenue Code of 1986 to provide matching payments for retirement savings contributions by certain individuals.

Introduced: November 15, 2018 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
Taxation Bank accounts, deposits, capitalCongressional oversightEmployee benefits and pensionsGovernment information and archives
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Income tax creditsIncome tax deferralInflation and pricesSecuritiesTax administration and collection, taxpayers
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 15, 2018
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7053-7054)
Nov 15, 2018
Introduced in Senate
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 Latest action November 15, 2018

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7053-7054)

 Plain-English summary Congressional Research Service

Encouraging Americans to Save Act

This bill replaces the existing saver's tax credit for certain individuals who contribute to retirement accounts with federal matching payments. For individuals with incomes that do not exceed specified levels, the bill requires the federal government to provide matching contributions equal to 50% of up to $1,000 in annual contributions to retirement accounts.

The bill also requires the Department of the Treasury to reestablish the MyRA program, which is a program that establishes and maintains Roth Individual Retirement Accounts for individuals. The investments in the accounts are limited to retirement savings bonds issued by Treasury.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Cantwell, Maria
Washington · Dec 19, 2018
 D
Bennet, Michael F.
Colorado · Nov 15, 2018
 D
Klobuchar, Amy
Minnesota · Nov 15, 2018
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3636: Encouraging Americans to Save Act. 115th Congress. Open America. https://openamerica.io/bill/115-S-3636/
MLA
"S. 3636: Encouraging Americans to Save Act." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-S-3636/.
Bluebook (legal)
S. 3636, 115th Cong. (2026), https://openamerica.io/bill/115-S-3636/.
Markdown link
[S. 3636: Encouraging Americans to Save Act](https://openamerica.io/bill/115-S-3636/)
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