S. 5040 explained · 119th Congress · Pending in Congress
A bill to amend the Internal Revenue Code of 1986 to impose limitations on high-income taxpayers with large retirement account balances.
Cosponsors: none · per Congress.gov, 2026-10-15
Introduced: 2026-07-21
Latest action (2026-07-21): Read twice and referred to the Committee on Finance.
What S. 5040 does, in plain terms
The Congressional Research Service has not published a summary of S. 5040 yet. Its official title: “A bill to amend the Internal Revenue Code of 1986 to impose limitations on high-income taxpayers with large retirement account balances.”.
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