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The Senate Tax Proposal Could End Feds’ Catch-Up TSP Contributions
Government Executive: Senate Finance Committee Chairman Orrin Hatch, R-Utah, is expected to introduce an amendment to the Republican-led tax reform initiative Tuesday that would restrict federal employees from making extra contributions to their Thrift Savings Plan accounts from pretax earnings.
Hatch reportedly plans to introduce a series of amendments to the Senate version of the Tax Cuts and Jobs Act (H.R. 1) Tuesday evening, along with a revised outline of the bill. Markup by the Finance Committee was originally scheduled to begin Monday, but Hatch delayed that, citing the need to change the bill to conform with the chamber’s rules on budget reconciliation.
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