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Retirement Planning > Saving for Retirement

SECURE Act to Get House Vote in May

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House Majority Leader Steny Hoyer, D-Md., told the House Democratic Caucus in an April 25 Dear Colleague letter that he plans to bring H.R. 1994, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, to the House floor in May.

The SECURE passed the House Ways and Means Committee on April 2. No action on the Retirement Enhancement and Savings Act (RESA) of 2019, the companion bill to the SECURE Act, has been scheduled yet by the Senate Finance Committee.

Noting the actions taken during the first 100 days of the 116th Congress, Hoyer noted that the House will take up this week H.R. 9, the Climate Action Now Act, “to affirm the principles of the Paris Climate Agreement in spite of President Trump’s pledge to withdraw the United States.”

Hoyer signaled that a vote on the SECURE Act would follow “over the coming work period,” and noted that with the flood insurance program set to expire at the end of May, “I expect the House to take action to address that as well.”

Over the following weeks, Hoyer continued, “as committees continue to markup legislation, the House will also take up legislation to strengthen the Affordable Care Act and to address rising prescription drug costs.” Also possible for consideration in May by the full House is Financial Services Committee Chairwoman Maxine Waters’ Consumers First Act, H.R. 1500, which passed out of that committee on March 28.

Waters’ bill seeks to “reverse damage” done to the Consumer Financial Protection Bureau under former acting director Mick Mulvaney.

Meanwhile, the Senior Security Act of 2019, which would require the Securities and Exchange Commission to create a Senior Investor Taskforce, could be up for a House vote this week. Also on the House docket for this week is a resolution on Supporting the Protection of Elders Through Financial Literacy, which calls for, in part, law enforcement and regulatory agencies to work together to understand and detect elder frauds and scams.


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