The federal government devotes a substantial share of its budget to benefits for the nation's retirees through Social Security, Medicare, Medicaid, and other programs. Additionally, the exclusion of pension contributions and earnings from taxable income constitutes one of the largest preferences in the federal income tax code. CBO regularly analyzes a wide range of proposals to change those programs or those elements of the tax code.
H.R. 4365, a bill to amend title 5, United States Code, to make clear that accounts in the Thrift Savings Fund are subject to certain federal tax levies