S 1961
117th Congress
Senate
Taxation
Employee benefits and pensions
Income tax deductions
Income tax deferral
Inflation and prices
IRA Act of 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 7, 2021
Read twice and referred to the Committee on Finance.
Jun 7, 2021
Introduced in Senate
Plain-English summary
Increasing Retirement Amount Act of 2021 or the IRA Act of 2021
This bill increases to $12,000 the retirement savings contribution limit for individual taxpayers not participating in an employed-sponsored retirement plan. It also increases the limit on catch-up contributions to retirement plans.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1