More Americans could get double the government help for retirement savings.
A new bill would double the government's match on retirement savings for many Americans. It would also let more people qualify and make the matched money tax-free when they retire. These changes would help families save more for their future.
Today, eligible individuals can get a tax credit for up to 50 percent of their first $2,000 in retirement contributions, with an income limit of $41,000 for single filers. If this bill passes, the government would directly match 100 percent of those contributions, up to $2,000, and the income limit for single filers would rise to $85,000. These matched funds would also be tax-free in retirement.
S 5507 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10
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Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.