U.S. Sens. Cory Booker (D-NJ) and Jerry Moran (R-KS) proposed a plan to encourage Americans to build emergency funds. Under the bipartisan Refund to Rainy Day Savings Act, tax filers who receive a direct-deposit tax refund would be allowed to defer 20 percent of their refund by opting into the Rainy Day Savings Program on their 1040 tax form.
Senators propose ‘Rainy Day’ act to urge Americans to save
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