Congressman Mike Kelly (R-PA) this week announced the introduction of two bills that, if enacted, would greatly enhance the ability of Americans to save for their retirement. Kelly introduced H.R. 1084, the Family Savings Act of 2019 and co-authored the H.R. 1007, the Retirement Enhancement and Savings Act of 2019, which was introduced by Representative Ron Kind (D-WI). Both bills were authored by Kelly during the 115th Congress. The Family Savings Act, a pillar of Tax Reform 2.0, passed the House of Representatives last year.
Rep. Kelly will continue highlighting the importance of retirement savings as he did this week during a hearing of the full Ways and Means Committee. Kelly and Kind will also re-launch the House Retirement Security Caucus next week.
We must update the tax code to strengthen the financial security of Americans during their retirement years, said Kelly. These bills are aimed at making it easier for our people to generate enough income to enjoy that period of their lives by expanding access to private-sector workplace retirement plans. The legislation would help empower future retirees and relieve subsequent generations from some of the financial burden associated with the care of their parents and grandparents.
Representative Kelly, a member of the House Committee on Ways and Means and Ranking Member of the Oversight Subcommittee, has made retirement security one his highest legislative priorities so that all Americans can one day enjoy the fruits of their labor and live free of financial strain during their golden years.
This article provided by NewsEdge.