HR 2724 · 110th Congress · Taxation
Retirement Savings for Working Americans Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2007-06-14)
Plain Language Summary
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Retirement Savings for Working Americans Act - Amends Internal Revenue Code provisions relating to the tax credit for retirement savings contributions (saver's credit) to: (1) require the Secretary of the Treasury to deposit saver's credit amounts directly into the designated retirement account of the taxpayer; (2) expand income eligibility levels for the saver's credit; (3) allow taxpayers that contribute to a qualified tuition program or a Coverdell education savings account to claim such contributions as retirement savings contributions; and (4) adjust the saver's credit maximum contribution amount for inflation beginning after 2007.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (3)
2 Democrats1 Republican