,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #hegi  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #bh1 #bjbb,mr4  
,s*weik]t 7= himself & ,mr4 ,donalds7   
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to increase retirem5t sav+s1   
simplify & cl>ify retirem5t plan rules1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,retirem5t         
,protection ,act ( #bjbb4  #b4          
,enhancem5t ( ,sav]'s ,cr$it  7a7 #ej   
p]c5t cr$it rate ,section #be;,b7a7 ( ! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ ! applicable p]c5tage & ins]t+ 
#ej p]c5t4  7b7 ,adju/$ gross income    
phase\ts ,section #be;,b7b7 ( su* ,code 
is am5d$ to read z foll[s3  7b7         
,limitation ,= purposes ( ?is section-- 
7#a7 ,9 g5]al ,! am\nt ( cr$it all[able 
"u subsection 7a7 7det]m9$ )\t reg>d to 
?is subsection7 %all be r$uc$ 7b n bel[ 
z]o7 by an am\nt :i* be>s ! same ratio  
to ! cr$it o!rwise s all[able z-- 7,a7 !
 excess 7if any7 (-- 7i7 adju/$ gross   

income ( ! taxpay]1 ov]  7ii7 ! ?re%old 
am\nt1 be>s to  7,b7 ! phase\t am\nt4   
7#b7 ,?re%old am\nt ,! t]m ?re%old am\nt
 means-- 7,a7 9 ! case ( a jo9t return  
or a surviv+ sp\se 7z def9$ 9 section   
#b7;a771 #dh1jjj1  7,b7 9 ! case ( a    
head ( h\sehold1 #ge p]c5t ( ! am\nt 9  
effect = ! taxable ye> "u subp>agraph   
7,a71 &  7,c7 9 ! case ( any o!r        
individual1 #ej p]c5t ( ! am\nt 9 effect
 = ! taxable ye> "u subp>agraph 7,a74   
7#c7 ,phase\t am\nt ,! t]m phase\t am\nt
 means-- 7,a7 9 ! case ( a jo9t return  
or a surviv+ sp\se 7z def9$ 9 #b7;a771  
#ce1jjj1  7,b7 9 ! case ( a head (      
h\sehold 7z def9$ 9 section #b7;b771 #ge
 p]c5t ( ! am\nt 9 effect = ! taxable   
ye> "u subp>agraph 7,a71 &  7,c7 9 !    
case ( any o!r individual1 #ej p]c5t ( !
 am\nt 9 effect = ! taxable ye> "u      
subp>agraph 7,a74  7#d7 ,inflation      
adju/m5t  7,a7 ,9 g5]al ,9 ! case ( any 
taxable ye> beg9n+ 9 a cal5d> ye> aft]  
#bjbc1 ! #dh1jjj doll> am\nt 9 p>agraph 
7#b7 & ! #ce1jjj 9 p>agraph 7#c7 %all   

ea* be increas$ by an am\nt equal to--  
7i7 su* doll> am\nt1 multipli$ by  7ii7 
! co/-(-liv+ adju/m5t det]m9$ "u section
 #a7;f77#c7 = ! cal5d> ye> 9 :i* !      
taxable ye> beg9s1 det]m9$ by sub/itut+ 
cal5d> ye> #bjbb = cal5d> ye> #bjaf 9   
subp>agraph 7,a77ii7 !re(4  7,b7 ,r\nd+ 
,any increase det]m9$ "u subp>agraph    
7,a7 t is n a multiple ( #ejj %all be   
r\nd$ to ! ne>e/ multiple ( #ejj4  4    
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxable ye>s  
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  #c4 ,tempor>y increase 9         
retirem5t contribution limits  7a7      
,def9$ contribution plans ,9 ! case ( ! 
fir/ taxable ye> ( an individual end+   
aft] ! date ( ! enactm5t ( ?is ,act--   
7#a7 ,elective def]rals ,! applicable   
doll> am\nt = elective def]rals "u      
section #djb7;g7 ( ! ,int]nal ,rev5ue   
,code ( #aihf1 & any doll> limitation   
det]m9$ by ref]5ce !reto1 %all be       
increas$ by #d1jjj4  7#b7 #deg ,plans ,!
 applicable doll> am\nt "u section      

#deg7;e77#ae77;,a7 ( su* ,code ) respect
 to an eligible def]r$ comp5sation plan 
7z def9$ 9 section #deg7;b7 ( su* ,code7
 %all be increas$ by #d1jjj4  7b7       
,individual retirem5t acc\nts ,9 ! case 
( ! fir/ taxable ye> ( an individual    
end+ aft] ! date ( ! enactm5t ( ?is     
,act-- 7#a7 ,9 g5]al ,! d$uctible am\nt 
"u section #bai7;b77#a77;,a7 ( su* ,code
 %all be increas$ by #d1jjj4 ,= purposes
 ( su* ,code1 ! prec$+ s5t5ce %all be   
tak5 into acc\nt 9 det]m9+ ! maximum    
am\nt all[able z a d$uction "u section  
#bai4  7#b7 ,simple retirem5t acc\nts ,9
 ! case ( elective employ] contributions
 to a simple retirem5t acc\nt 7z def9$ 9
 section #djh7p7 ( su* ,code71 !        
applicable doll> am\nt "u p>agraph      
7#b77;,e7 !re( %all increas$ by #d1jjj4 
7c7 ,c]ta9 contributions made aft] close
 ( taxable ye> ,9 ! case ( a            
contribution-- 7#a7 :i* is made aft] !  
fir/ taxable ye> ( an individual end+   
aft] ! date ( ! enactm5t ( ?is ,act1 &  
be=e ! #ae? day ( ! f\r? mon? foll[+ !  

close ( su* taxable ye>1 &  7#b7 to :i* 
subsection 7b7 w\ld apply 7 su*         
contribution made be=e ! end ( su* fir/ 
taxable ye>1  ! taxpay] may elect to    
treat su* contribution z made dur+ su*  
taxable ye> = purposes ( ?is section4