The Savings Coalition supports legislation to provide incentives to increase personal savings for all Americans. Since its establishment in 1991, the Coalition has played a leadership role in influencing legislation to help all Americans save for their futures. Some key legislative milestones include:
2006. Savings Coalition was integral in securing a provision in the Pension Protection Act of 2006 that that made the retirement provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 permanent. The Savings Coalition also supported a provision in the bill that indexed IRA income limits for inflation.
2001. Savings Coalition was influential in increasing IRA contribution limits to $5,000, which will be adjusted for inflation after 2008, in the Economic Growth and Tax Relief Reconciliation Act of 2001. The bill created provisions that allow American workers age 50 and over, to make an additional $1,000 ‘catch up’ contribution to their IRAs.
1997. Savings Coalition active in winning passage of the Tax Relief Act of 1997 (TRA 97) containing significant incentives to help America’s savers. TRA 97 expanded eligibility for traditional individual retirement accounts and liberalized penalty-free withdrawal provisions for purchase of a first-time home, education expenses, and health expenses. Roth IRA was created which allowed for after-tax contributions and tax-free distributions.
1996. Savings Coalition helps secure increase in Spousal IRA contribution limits from $2,250 to $4,000, with passage of the 1996 Tax Bill.
Members of the Savings Coalition of America support various legislative proposals that expand Americans' opportunities to save for their futures. If you are in agreement with the position of the Savings Coalition, you are encouraged to contact your Representative, Senators and the President to share your views on these pieces of legislation. In order to make that contact easier, the email addresses for these legislators are included in the following lists. You are also encouraged to send a handwritten note via mail or to call. The addresses and phone numbers are also included.
U.S. House of Representatives: The Honorable (name of your Representative)
U.S. House of Representatives
Washington, DC 20515
Phone: (202) 225-3121
Email your Senators: www.senate.gov/contacting/index.cfm
White House: The Honorable Donald J Trump
The President of the United States
1600 Pennsylvania Avenue, NW
Washington, DC 20500
Phone: (202) 456-1414