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Savings Coalition Weighs in on Savings with Senate Finance Committee’s Working Group on Tax Reform

The Savings Coalition reiterated its position to a special working group of the Senate’s Finance Committee that it should not treat tax deferrals as if they are tax deductions when considering tax reforms. It also sought to help the Senators lay a strong bipartisan foundation for reform, explaining the critical role of sound tax policy in helping American’s save for retirement.

The Working Group on Savings and Investment is one of five bi-partisan groups of Senators from the Finance Committee, charged with working with the Joint Committee on Taxation “to produce an in-depth analysis of options and potential legislative solutions… with the goal of having one final comprehensive report featuring recommendations from each of the five categories completed by the end of May. [The report] will serve as a foundation for the development of bipartisan tax reform legislation.”

The Savings Coalition will continue to work with the Finance Committee and the House Ways & Means Committee to help ensure that any tax reform proposals help promote savings and the economic benefits that result from savings and financial security.

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