7 Ways The New Tax Bill Could Impact Retirement Planning

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By Jamie Hopkins

The Ways and Means Committee released the first draft of a major tax bill this week. While it is mostly aimed at increasing taxes to pay for other social policies and government infrastructure initiatives, there are a number of provisions that would change retirement planning.

You can see a summary by the Ways and Means Committee here. Most of this bill as it relates to retirement planning is more about tax revenue and adding new restrictions. It’s not geared at expanding retirement access or enhancing retirement security of Americans as other bills in front of congress, like the SECURE Act 2.0.

While congress is looking at adding retirement enhancements, the proposed tax bill released this week is geared towards tax revenue and removing perceived “excess” benefits.

Full article on Forbes

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