3.0.0 2492 2023-01-11T13:32:02Z 2023-01-11T13:32:02Z Senate S 2016-02-03 114 ssfi00 Finance Committee Senate Standing Referred to 2016-02-03T21:00:34Z 2016-02-03 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2016-02-03 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA 2016-02-03 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2016-02-03 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2016-02-03 True C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2016-02-03 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2016-02-10 False Taxation Bank accounts, deposits, capital Employee benefits and pensions Income tax credits Income tax deferral Taxation 00 2016-02-03 Introduced in Senate 2016-03-18T20:35:06Z Encouraging Americans to Save Act

This bill amends the Internal Revenue Code to expand the tax credit for retirement savings contributions to: (1) make such credit refundable; (2) allow individual taxpayers (excluding dependents and full-time students) who have attained age 18 as of the close of the taxable year a credit for 50% of their retirement savings contributions up to $1,000; (3) increase the maximum income threshold for determining eligibility for the credit; and (4) allow direct deposit of credit amounts into the taxpayer's retirement savings vehicle (e.g., MyRA or Roth IRA account).

The Department of the Treasury shall educate taxpayers on the benefits of the credit for retirement savings contributions.

]]> Encouraging Americans to Save Act Display Title Encouraging Americans to Save Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide matching payments for retirement savings contributions by certain individuals. Introduced in Senate IS Short Titles as Introduced Encouraging Americans to Save Act Introduced in Senate 2016-02-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2492is/xml/BILLS-114s2492is.xml 2016-02-03 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.