HR 2724 · 110th Congress · Taxation

Retirement Savings for Working Americans Act

Introduced 2007-06-14· Sponsored by Rep. Emanuel, Rahm [D-IL-5]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2007-06-14)

Plain Language Summary

[AI summary unavailable — showing source text] 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