S 5040·Federal·senate
A bill to amend the Internal Revenue Code of 1986 to impose limitations on high-income taxpayers with large retirement account balances.
In CommitteeFiled Jul 21, 2026
Sponsor: Sen. Wyden, Ron [D-OR] (D)
Latest Action
Read twice and referred to the Committee on Finance.
Jul 21, 2026
Summary
The bill would change the Internal Revenue Code to place new limits on tax advantages for high‑income individuals who hold large balances in retirement accounts. It seeks to address concerns that wealthier taxpayers receive disproportionate tax benefits from retirement savings.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Topics
Track this bill
Get real-time alerts when S 5040 changes status, plus AI-powered summaries and stage predictions.
Sign up free