A Democratic bill with 1 Republican cosponsor · See the cosponsor
Last activity — Read twice and referred to the Committee on Finance.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, titled the "Retirement Investment in Small Employers Act," proposes an amendment to the Internal Revenue Code of 1986. It aims to establish a microemployer pension plan startup credit. The legislation specifically targets qualified microemployers to provide increased support for retirement plans. These changes involve adjusting specific percentages and dollar amounts within the existing code. The amendment is intended to take effect for taxable years beginning after December 31, 2024.
Yes· 3 of 5
- Scored +7
Would business owners be better off under this?
Microemployers receive higher tax credits to implement retirement plans.
- Scored +7
Does this make it easier to run a small business?
The bill significantly increases the startup credit available to microemployers for pension plans.
- Scored +5
Would people over 65 be better off under this?
The bill encourages pension plan creation, which benefits long-term retirement security.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased credit percentage for microemployers: Under Section 2(a)(1)(A), the credit amount is increased by substituting "100 percent" for "50 percent," which provides a higher credit for qualified microemployers.
-
Increased dollar amount for microemployers: Section 2(a)(1)(B) substitutes "$2,500" for "$500," providing a larger specific dollar amount for these employers.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — Microemployers receive higher tax credits to implement retirement plans. Would retired people be better off under this? — Providing better pension options for employers can increase the pool of available retirement funds. Would people over 65 be better off under this? — The bill encourages pension plan creation, which benefits long-term retirement security.
- Economy And Finance
- Does this make it easier to run a small business? — The bill significantly increases the startup credit available to microemployers for pension plans. Does this cut taxes for small businesses? — The bill increases tax credits for microemployers to help them establish pension plans.
- 5/21/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Ted BuddRepublican · North Carolina