Pin It
capitalbuilding600
Washington, DC - Congressman Tom Reed announced last week a bill to make it easier for families to save for retirement and reduce the tax burden on Gold Star families has passed the House.

"We care about making it easier for families to save for their retirement and their children's education," Reed said. "Our economy is booming after tax cuts. It only makes sense to make it easier for folks to save now that they have more money in their pocket."

This bill was part of tax reform 2.0 which Reed championed last fall.  The bill also provides relief for Gold Star families facing a high tax burden.

"As the son of veteran we always want to make sure our tax code is treating their families fairly. This provision is just common sense." Reed concluded.

The Secure Act:

  • Gives small businesses and consumers more flexibility, more information, and more affordable options for creating and building retirement savings accounts.
  • Changes Multiple Employer Plan rules to make it easier and less expensive for employers, especially small employers, to pool their resources to offer better retirement plans to employees.
  • Offers Americans more opportunities to save for education through 529 accounts.
  • Allows parents to use their 401(k)s penalty-free to support their families after the birth or adoption of a child.
  • Significantly reduces the tax burden on Gold Star Families




v15i20
Pin It