Bill · S. 1840· Senate(119-S-1840)
Retirement Investment in Small Employers Act
- Introduced
- 5/21/2025
- Last activity
- 5/21/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Maggie Hassan
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, titled the "Retirement Investment in Small Employers Act," proposes an amendment to the Internal Revenue Code of 1986. It aims to establish a microemployer pension plan startup credit. The legislation specifically targets qualified microemployers to provide increased support for retirement plans. These changes involve adjusting specific percentages and dollar amounts within the existing code. The amendment is intended to take effect for taxable years beginning after December 31, 2024.
Yes· 3 of 5
Would business owners be better off under this?+7
Microemployers receive higher tax credits to implement retirement plans.
Does this make it easier to run a small business?+7
The bill significantly increases the startup credit available to microemployers for pension plans.
Would people over 65 be better off under this?+5
The bill encourages pension plan creation, which benefits long-term retirement security.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased credit percentage for microemployers: Under Section 2(a)(1)(A), the credit amount is increased by substituting "100 percent" for "50 percent," which provides a higher credit for qualified microemployers.
-
Increased dollar amount for microemployers: Section 2(a)(1)(B) substitutes "$2,500" for "$500," providing a larger specific dollar amount for these employers.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+7Good For Retirees+5Good For Seniors+5
- Economy And Finance
- Improves Small Business Support+7Reduces Small Business Taxes+5
- 5/21/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Ted BuddRepublican · North Carolina