Sometimes Congress doesn’t need to pass tax legislation directly. Sometimes it tries to tax retirement savers indirectly. That’s a polite way of saying, picking our pockets…
That’s the case with the legislation now known as “Build Back Better Bill.” As is usually the case, the current version of the bill is loaded with “feel good” items including: Updating USPS delivery trucks to run on electricity, a global-warming-fighting Climate Civilian Corps, free universal pre-K, tax credits and additional paid leave.
Granted, this bill still has to be examined by the Senate, which could modify it in some fashion before kicking it back to the House. There’s a possibility this version of the bill will never become law.
Continue reading “Congress Passes Backdoor Tax Hike by Removing a Popular Savings Loophole”
