Bloomberg reports that Senator Kyrsten Sinema has signaled to the White House that she opposes the tax and raid on IRAs being championed by Democrats.
Changes to IRAs were not part of her “list of specific tax policies” she is willing support in the Democrats’ massive social spending bill she outlined to the White House, according to Bloomberg.
This is a positive signal, and Senator Sinema deserves a big thank you for defending the retirement and savings of middle-income investors, retirees, and entrepreneurs.
The fight continues, though. We have yet to hear whether Representative Richard Neal (D-Mass.) and Senator Ron Wyden (D-Ore.) – the chief architects of the reconciliation package – will abandon their plan to tax and raid the IRAs of millions of Americans.