3.0.0 6562 2023-01-11T13:43:10Z 2023-01-11T13:43:10Z House HR 2020-04-21 116 [Congressional Record Volume 166, Number 75 (Tuesday, April 21, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. McHENRY:H.R. 6562.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 To regulate Commerce withforeign Nations, and among the several States, and with theIndian Tribes;Article I, Section 8, Clause 18 To make all Laws whichshall be necessary and proper for carrying into Execution theforegoing powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.[Page H1900]]]> hswm00 Ways and Means Committee House Standing Referred to 2020-04-21T14:33:50Z 2020-04-21 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2020-04-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-04-21 Introduced in House IntroReferral 1000 9 Library of Congress M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 N E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 2020-04-24 False H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 2020-04-24 False M001204 Rep. Meuser, Daniel [R-PA-9] Daniel Meuser R PA 9 2020-04-24 False W000812 Rep. Wagner, Ann [R-MO-2] Ann Wagner R MO 2 2020-04-24 False K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2020-04-24 False S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2020-05-01 False K000392 Rep. Kustoff, David [R-TN-8] David Kustoff R TN 8 2020-05-01 False M001157 Rep. McCaul, Michael T. [R-TX-10] Michael McCaul R TX T. 10 2020-05-01 False R000611 Rep. Riggleman, Denver [R-VA-5] Denver Riggleman R VA 5 2020-05-01 False L000589 Rep. Lesko, Debbie [R-AZ-8] Debbie Lesko R AZ 8 2020-05-26 False W000827 Rep. Wright, Ron [R-TX-6] Ron Wright R TX 6 2020-06-24 False Taxation Bank accounts, deposits, capital Employee benefits and pensions Income tax deferral Income tax exclusion Taxation 00 2020-04-21 Introduced in House 2020-04-27T11:09:04Z Securing Additional Value for Every Retirement Saver Act or the SAVERS Act

This bill increases contribution limits to certain tax-preferred retirement plans in taxable years beginning in 2020 by the lesser of 300% or the compensation of the plan participant that is includible in gross income. For purposes of determining the compensation of plan participants, the bill allows an election to use compensation for 2019 in lieu of 2020.

]]> SAVERS Act Display Title SAVERS Act Official Title as Introduced To suspend the contribution limitations for certain tax-preferred retirement accounts. Introduced in House IH Short Title(s) as Introduced SAVERS Act Introduced in House IH Short Title(s) as Introduced Securing Additional Value for Every Retirement Saver Act Introduced in House IH Introduced in House 2020-04-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6562ih/xml/BILLS-116hr6562ih.xml 2020-04-21 Referred to the House Committee on Ways and Means. 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.