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Omnibus Spending Legislation Includes SECURE Act
Currently, the end-of-the-year omnibus spending legislation, the Further Consolidated Appropriations Act (H.R. 1865), includes the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). The $1.3 trillion appropriations package for fiscal year 2020 would also repeal three tax provisions from the Affordable Care Act (ACA) including the “Cadillac tax,” health insurer tax and medical device tax. In addition, the legislation includes a series of tax and disaster-related provisions as well as various provisions that would affect employee benefits. If the legislation is enacted, more information will be provided in future GRS publications.
H.R. 1865 is available here.