The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. While the legislation's details are still being finalized, key lawmakers on both sides of the aisle are optimistic the bill can pass before the end of the year. And the bill would boost employer-sponsored plans, such as 401(k)s, by making it easier for employers to start and strengthen plans.
The legislation would also increase "catch-up" contributions, allowing individuals approaching retirement age to save more. Details on exactly when and how much the required minimum distribution age will increase are still being negotiated on Capitol Hill. The bill would raise the age at which retirees have to begin taking required minimum distributions from their retirement accounts to as high as 75 from the current 72. We are also watching a bipartisan retirement savings bill that has strong bipartisan support and could be approved by both the House and Senate before the end of the year. Congress will need to pass an "omnibus" appropriations bill to fund all government operations for the remainder of the fiscal year (which runs until September 30 th, 2023) or, more likely, pass another temporary extension until early 2023 to avert a government shutdown and allow the new Congress to wrestle with the funding issue in the new year. A temporary agreement to keep the federal government open and operating expires on December 16 th. The biggest issue on the agenda will be reaching a compromise to keep government operations funded. Lawmakers will return to Washington for the "lame duck" session on November 14 th, which is expected to last until mid-December. While there is considerable interest in looking ahead at what the new Congress will look like in 2023, the current Congress still has unfinished business. Lawmakers would like to create a better regulatory framework, including robust investor protections, for digital currencies. But the two parties have found it difficult so far to agree on a path forward.Ĭryptocurrency regulation is another area that has attracted bipartisan support and could see action in 2023. Regulation of big tech companies is a one possible area, as both parties have expressed concerns about the market domination of a small number of technology companies. On other issues, Congress is also likely to struggle to find areas for bipartisan compromise next year. That will mean that responsibility for fighting inflation will continue to fall to the Federal Reserve, which is expected to raise interest rates further at its meeting next month before easing the frantic pace of rate hikes in early 2023.
On broader economic issues, the two parties have very different visions on issues like government spending and steps to combat inflation, so compromise is unlikely. A similar scenario could play out in 2023. debt for the first time in the nation's history. Market volatility spiked and Standard & Poor's downgraded U.S. Many analysts have drawn comparisons to the 2011 debt ceiling debate, in which the U.S. Markets tend to get rattled by uncertainty over when and whether Congress will raise the debt ceiling. Raising the debt limit has become a huge political challenge over the last decade, and it could be particularly tricky if Republicans have the majority in the House but Democrats retain a narrow majority in the Senate. Congress will need to raise the debt limit sometime in early to mid-2023 or risk an unprecedented U.S. Topping the list of potentially market-moving issues is the coming fight over the debt ceiling, which is the cap imposed by Congress on the amount of debt the United States can accumulate. Environmental, Social and Governance (ESG) Investing.Bond Funds, Bond ETFs, and Preferred Securities.ADRs, Foreign Ordinaries & Canadian Stocks.Environmental, Social and Governance (ESG) ETFs.Environmental, Social and Governance (ESG) Mutual Funds.Benefits and Considerations of Mutual Funds.
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