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Some retirement changes being proposed in GOP’s drive to make tax cuts permanent
CNBC notes stage two of tax reform is set as House Republicans aim to make permanent individual tax cuts passed last year and to ease rules around retirement savings. The bill advancing through the House Ways and Means Committee, which Speaker Paul Ryan is scheduling for a full House vote later this month, seeks to encourage savings by reducing barriers to employers providing retirement plans. But a potential problem for the GOP is budget deficits. The cost of making individual cuts permanent is estimated at $627 billion over a decade, according to the bipartisan Joint Committee on Taxation. Read CNBC’s full piece here.
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