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S5040FEDERALSession 119Federal Billin committee

Proposed Tax Limits on Large Retirement Accounts

Original title: A bill to amend the Internal Revenue Code of 1986 to impose limitations on high-income taxpayers with large retirement account balances.

Last action · July 21, 2026: Read twice and referred to the Committee on Finance.Sponsor: Ron Wyden

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

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What This Bill Would Do

This bill proposes new tax restrictions for high-income individuals who hold significant balances in their retirement accounts. It seeks to amend the existing federal tax code to change how these large accounts are treated.

Why it matters

If passed, this legislation would change the tax obligations for high-income earners with large retirement savings, potentially altering how they manage or contribute to these accounts.

Who It Would Affect

Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.

Directly affected

High-income taxpayers

The bill proposes new limitations on retirement account balances for this group.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Who would be affected by this bill?

The bill targets high-income taxpayers who have large balances in their retirement accounts.

What is the current status of this bill?

The bill has been and is currently under review by the Committee on Finance.

What else do you want to know?

News Coverage

No news coverage found yet. Articles are indexed twice daily.

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Votes, people, money & the original source

Where This Stands

Currently in committee. The next step in the legislative lifecycle is Floor Vote.

Procedural history

2 actions

Jul 21, 2026SenateCommittee
Read twice and referred to the Committee on Finance.
Jul 21, 2026SenateIntroduced
Introduced in Senate

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Discoveries

1 pattern noticed across the record

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Targeting Retirement Wealth

The bill represents a shift toward placing specific caps or limitations on the size of tax-advantaged retirement accounts for high earners.

Internal Revenue Code of 1986

Connected Entities

Internal Revenue Code of 1986, Senate Finance Committee

otherInternal Revenue Code of 1986“The existing federal tax law that this bill proposes to amend.”Map →

OrganizationSenate Finance Committee“The Senate committee currently reviewing the bill.”Map →

Sources

Open source document

www.congress.gov

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy50
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level

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