Retirement and life insurance industry officials are pressing House and Senate lawmakers to pass comprehensive retirement legislation before adjourning this year.
Industry officials say a House vote on House Ways and Means Committee Chairman Kevin Brady’s tax and retirement package that was released on Nov. 26 but was revised by the Texas Republican on Dec. 10, is anticipated to be up for a vote on the House floor this week.
The Senate is expected to follow with a vote, and likely passage, next week on its own retirement package, leaving the House to decide whether to take up the measure.
It’s unclear whether Brady’s legislation will be attached to a year-end spending bill.
Industry officials project a 50/50 chance of lawmakers passing a retirement package before they adjourn.
Congress must adjourn by Jan. 3, when the new Congress is sworn in. All legislation introduced in 2018 will then die and must be reintroduced in the next Congress.