US SB448 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on February 12 2019 - 25% progression, died in committee
Action: 2019-02-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 12 2019 - 25% progression, died in committee
Action: 2019-02-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows funds paid to an individual to aid in the pursuit of graduate or postdoctoral study or research to be saved in an Individual Retirement Account (IRA). The bill permits the funds to be considered compensation for purposes of current law provisions that limit annual deductible IRA contributions to the lesser of (1) the deductible amount permitted under current law, or (2) the compensation includible in the individual's gross income for the year.
Title
Graduate Student Savings Act of 2019
Sponsors
| Sen. Elizabeth Warren [D-MA] | Sen. Mike Lee [R-UT] | Sen. Ron Wyden [D-OR] | Sen. Tim Scott [R-SC] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-02-12 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB1194 (Same As) 2019-02-13 - Referred to the House Committee on Ways and Means.
HB1007 (Related) 2019-02-06 - Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HB1865 (Related) 2019-12-20 - Became Public Law No: 116-94. (TXT | PDF)
HB1007 (Related) 2019-02-06 - Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
HB1865 (Related) 2019-12-20 - Became Public Law No: 116-94. (TXT | PDF)
Subjects
Employee benefits and pensions
Higher education
Income tax deductions
Student aid and college costs
Taxation
Higher education
Income tax deductions
Student aid and college costs
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/448/all-info |
| Text | https://www.congress.gov/116/bills/s448/BILLS-116s448is.pdf |
