SECURE Act Stalled in Senate

Senate Finance Committee Chair Chuck Grassley said that “as many as six” Senators oppose certain parts of the Setting Every Community Up for Retirement Enhancement (SECURE) Act (H.R. 194).

The SECURE Act passed the House on May 23rd with a vote of 417-3, and was expected to pass in the Senate through unanimous consent.  Grassley indicated that Senate Majority Leader Mitch McConnell is unlikely to take up the SECURE Act unless it is through unanimous consent.

Senator Ted Cruz is one of the opponents to the bill because of the elimination of a provision allowing certain distributions for home-schooling and elementary and secondary education expenses.

Chamseddine, Jad. Retirement Bill with ‘Kiddie’ Tax Fix Faces Further Opposition. Tax Notes Today. Taxnotes.com. June 4, 2019.

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