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Retirement Planning > Retirement Investing

Secure Act May Get Senate Vote Thursday

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Senate Majority Leader Mitch McConnell, R-Ky., put forth a motion Thursday on the Senate floor for a unanimous consent vote on the Setting Every Community Up for Retirement Enhancement (Secure) Act.

The request asks for “immediate consideration of H.R. 1994.” It’s unclear, however, if the motion will actually come up for a Thursday vote.

Republican senators urged McConnell on Tuesday to put the Secure Act up for an immediate vote on the bipartisan bill, which passed the House by a 417-3 vote on May 23. Unanimous consent is an agreement among senators to expedite a vote.

“We remain optimistic that the bill will be enacted this year and we appreciate the efforts made to bring the bill to a vote, which keeps the issue at the forefront of Senate priorities,” the Insured Retirement Institute said Thursday in a statement. McConnell spoke at a private event Wednesday, according to IRI, “where he reiterated his support for bringing the Secure Act to a vote before the end of the year.”

If the Secure Act cannot be passed by unanimous consent, senators may try to attach it to a year-end spending bill.

The Secure Act has not been able to pass “by unanimous consent because there’s a couple of holds in the Senate,” Charlie Bolton, an aide to Sen. Rob Portman, D-Ohio, said Tuesday.

He added: “There are a lot of ideas we have to sort of break through the logjam.”

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