HR 2913
117th Congress
House
Taxation
Bank accounts, deposits, capital
Congressional oversight
Employee benefits and pensions
Government information and archives
Income tax credits
Income tax deferral
Inflation and prices
Securities
Tax administration and collection, taxpayers
Encouraging Americans to Save Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 30, 2021
Referred to the House Committee on Ways and Means.
Apr 30, 2021
Introduced in House
Plain-English summary
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's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1