Rethinking Retirement Tax Breaks

Incentives for retirement savings should be simpler, says Rep. Camp.

U.S. tax incentives for retirement savings should be simpler and encourage more participation by low- and middle-income taxpayers, said Dave Camp, chairman of the House Ways and Means Committee.

Camp, the top Republican tax writer, said today that he hasn’t drawn conclusions about what Congress should do on retirement savings as it overhauls the tax code by lowering rates and curtailing tax breaks.

Benefits Advocacy Group

Tapping those savings for revenue may be counterproductive, said Randy Hardock, a partner at Davis & Harman LLP in Washington who testified on behalf of the American Benefits Council, a group that advocates for employer-sponsored plans.

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