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The proposal would repeal tax deductions for new contributions to retirement saving plans. These contributions remain eligible for the savers’ credit. Tax burden changes include the resulting change in current tax liabilities and the change in the net present value of future tax liabilities from withdrawals of accumulated assets from these contributions in retirement. Baseline is the law in place as of December 18, 2019, with the Tax Cuts and Jobs Act of 2017 (TCJA) permanently extended.
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T20-0149 - Allow Roth Contributions and Repeal Deduction for Elective Contributions, Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0148 - Replace Deductible Defined-Contributions with Revenue-Neutral Nonrefundable Expanded Savers' Credit, Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0147 - Replace Deductible Defined-Contributions with Revenue-Neutral Refundable Expanded Savers' Credit, Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0146 - Limit Maximum Defined-Contribution to $20,000 and Repeal Catch-Up Contributions, Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0145 - Limit Maximum Defined-Contribution to $15,000 and Repeal Catch-Up Contributions, Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0144 - Limit Maximum Defined-Contribution before Catch-Up Contributions to $20,000, Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0143 - Limit Maximum Defined-Contribution before Catch-Up Contributions to $15,000, Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0142 - Eliminate Tax Expenditures for Retirement Saving Plans (Present Value Method), Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0141 - Eliminate Tax Expenditures for Retirement Saving Plans (Alternative Cash-Flow Method), Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0140 - Eliminate Tax Expenditures for Retirement Saving Plans (Treasury/JCT Method), Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0139 - Eliminate Deductions for New Contributions to Retirement Saving Plans, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
T20-0150 - Allow Roth Contributions and Repeal Deduction for Elective Contributions (No Change in Future Taxes), Baseline: Current Law with TCJA Permanently Extended, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2020
