President Biden and Congress should concentrate on areas of common ground, finding incremental places to improve the tax code. A bipartisan bill recently introduced to help retirement savings is a good model for what incremental reform may look like.
4 min read
The Securing a Strong Retirement Act seeks to encourage retirement savings by simplifying and expanding the use of different types of retirement accounts.
3 min read
One of Biden’s tax proposals that has gotten little attention is a change that would shift the benefits of tax deferral in traditional retirement accounts toward lower- and middle-income earners. The plan would reduce the tax benefit for those earning above $80,250 but under $400,000, violating Biden’s tax pledge to not raise taxes on earners below the $400,000 threshold.
5 min read
The current crisis highlights the cost of underfunding pensions in years of economic growth. Twenty states have pension plans that were less than two-thirds funded, and five states had pension plans that were less than 50 percent funded.
3 min read
Changes to the way we tax long-term savings could remove the excess tax burden on saving and investment, helping individuals to better provide for their financial future.
15 min read
While rumors flew around Washington in the fall that the Tax Cuts and Jobs Act would dramatically impact retirement savings accounts, the plan has made only a few minor modifications.
3 min read