Bloomberg Tax
Oct. 27, 2020, 2:57 PM

A Rare Bipartisan Bill Would Expand Retirement Savings Options

Laura Davison
Laura Davison
Bloomberg News

New bipartisan legislation to expand retirement saving options for workers is one of the few policies that has a chance of moving through Congress no matter who wins next week’s presidential election.

Representatives Richard Neal and Kevin Brady, the top Democrat and Republican on the House Ways and Means Committee, introduced legislation Tuesday to help workers save more for retirement and encourage employers to offer retirement plans.

Kevin Brady and Richard Neal
Photographer: Chip Somodevilla/Getty Images

The bill would automatically enroll employees in their company’s 401(k) retirement plan, increase a tax credit for low-and-middle income individuals who save for retirement, and allow individuals who are at least ...

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