According to the NSA, a House bill calls for an $838 million cut in 2016 from the 2015 budget of $10.9 billion, which is also $2.8 billion less than President Obama’s 2016 budget request. A Senate bill proposes a cut of $470 million.

The IRS has announced additional annual inflation adjustments for more than 50 tax provisions for 2016, including the tax rate schedules and other tax changes.

Some retirement policy reform plans have called for capping the amount that could be contributed pretax to retirement accounts. A Republican plan put forward in 2014, for example, would have disallowed contributions to traditional IRAs and removed income limits on Roth IRA contributions.

The stretch IRA isn’t really a savings vehicle—it’s an estate-planning strategy for extending the life of an IRA across multiple generations, enabled by IRS interpretation of the tax code.

We are going to run a three-part series of articles written by Wealth Management. Com. Several legislative changes are on the horizon that will impact everything we know about retirement planning.

For the last several years, taxpayers have faced great uncertainty determining whether they can depend on tax incentives to help them lower taxes. These have become known as the “51 Tax Extenders”. Last December, Congress extended most of these provisions for one year retroactively to the beginning of 2014, but not going forward, so they expired again at the end of 2014.