Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

JCT Report: Description, Revenue Effects of Chairman’s Modification to EARN Act (IRC §401)

June 22, 2022, 5:00 AM

Description and estimated revenue effects of the Senate Finance Committee Chairman’s modification to the Enhancing American Retirement Now (EARN) Act provided in Joint Committee on Taxation reports released June 21. The Finance Committee has scheduled a committee markup on June 22, 2022. One proposal makes the age for ABLE beneficiaries based on blindness or disability that occurs before age 46 (from 26). For the 10-year period of 2022-2032, the bill would increase revenues by $144 million. [JCX-11-22 (June 21, 2022); JCX-12-22 (June 21, 2022)]

Reference:
View Description, View Revenue Effects.