The House Ways and Means Committee today released three bills as part of Tax Reform 2.0:

  1. H.R. 6760Protecting Family and Small Business Tax Cuts Act, a bill addressing the individual and small business tax cuts enacted last year – most of the provisions would be made permanent.
  2. H.R. 6757Family Savings Act, a bill that contains many of the provisions in the 2018 Retirement Enhancement Savings Act, which would it easier for families to save for retirement, education, and other family expenses. For example, the bill would create Universal Savings Accounts, expand 529 plans, and allow for penalty-free withdrawals from retirement plans for expenses related to the birth or adoption of a child.
  3. H.R. 6756American Innovation Act, a bill to spur entrepreneurship and lower barriers for start-ups.

The Ways and Means Committee may hold a markup of the package on Thursday, Sept. 13.

As our tax policy team reviews these bills over the next few days, be sure to check back in on the Federal Policy Watch blog for our analysis and insights.