Legislative updates

The House Committee on Ways and Means advanced several bills to expand health options and increase flexibility for workers

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on May 25, 2023, for a California severe storm and flooding, for the incident period of March 11, 2023 – March 16, 2023.

A bill introduced by Representative Frank Lucas (R-OK) was approved by the House Financial Services Committee with bipartisan support by a vote of 35-12. H.R. 3063 would amend securities laws to allow collective investment trusts (CITs) in 403(b) plans.

The SECURE 2.0 Act provides more ways for individuals to access their retirement savings and creates new exceptions to the 10% early distribution penalty tax.

Congressional leadership from the House Committee on Ways and Means and the Senate Committee on Finance have sent a letter to officials at the Treasury Department indicating that Congress intends to introduce technical correction legislation to correct erroneous statutory language for several SECURE 2.0 provisions in order to accurately carry out Congressional intent.

This infographic is part of a multi-part series that describes the penalty-free distribution options created by SECURE 2.0

Senator Marco Rubio (R-FL), along with several cosponsors have reintroduced the Health Savings Act.

Senator Ted Cruz (R-TX) and co-sponsor Senator Mike Braun (R-IN) have introduced S. 1226, a bill to make permanent several individual tax provisions.

Senator Jeanne Shaheen (D-NH) and co-sponsor Susan Collins (R-ME) have introduced S. 1269, the INSULIN Act of 2023.

The Federal Emergency Management Agency (FEMA) issued a disaster declaration on April 27, 2023, for severe storms, tornadoes, and flooding in Florida, for the incident period of April 12, 2023 – April 14, 2023.