H.R. 6799 · 110th Congress
Worker Savings Account Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
McHughSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Worker Savings Account Act of 2008 - Amends the Internal Revenue Code to: (1) establish worker savings accounts to make payments to workers during periods of unemployment; (2) treat such accounts in the same manner as individual retirement accounts (IRAs) for tax purposes; (3) allow employer matching contributions to such accounts; (4) make a portion of the…
What it does: CRS summary · Introduced in House · Aug 1, 2008
Worker Savings Account Act of 2008 - Amends the Internal Revenue Code to: (1) establish worker savings accounts to make payments to workers during periods of unemployment; (2) treat such accounts in the same manner as individual retirement accounts (IRAs) for tax purposes; (3) allow employer matching contributions to such accounts; (4) make a portion of the tax credit for contributions to retirement accounts (saver's credit) refundable; and (5) require increases in the saver's credit to be paid into a worker savings account.
Provides that no provision of this Act shall be construed to diminish an employer's obligation to pay federal and state unemployment taxes or to reduce the amount of unemployment compensation to which a worker may be entitled.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Worker Savings Account Act of 2008
Latest action (Aug 1, 2008): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Aug 1, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.