Analysis: The Retirement, Savings, and Other Tax Relief Act of 2018
The House Ways and Means Committee’s bill to revive a list of special interest tax provisions also reforms retirement savings, makes corrections to last year’s landmark tax reform, and reforms parts of the IRS bureaucracy. There are many worthy provisions in the Retirement, Savings, and Other Tax Relief Act. However, Congress should not package sensible changes and technical corrections with unnecessary tax subsidies and temporary extensions that clutter the tax code and distort business investment. Instead, Congress should look to other more comprehensive reforms that help all Americans, instead of picking winners and losers through the tax code.