Expanding Penalty Free Withdrawal ActThis bill allows an individual who is unemployed for a certain period of time to take early distributions from a qualified retirement plan without paying an additional tax on such distributions, subject to limitations.Under current law, a 10% additional tax is imposed on early distributions from a qualified retirement plan unless an exception applies. This bill expands the list of exceptions to include distributions from a qualified retirement plan made (1) to an individual who is unemployed and receives federal or state unemployment compensation for 26 consecutive weeks (or the maximum number of weeks allowed under state law) and (2) in the same tax year that the unemployment compensation is paid or the following tax year. However, under the bill, the 10% additional tax applies to distributions from a qualified retirement plan made after an individual is employed for at least 60 days following a period of unemployment.The bill limits the amount that may be distributed to an unemployed individual from a qualified retirement plan free from the 10% additional tax to the lesser of (1) $50,000 in distributions from all of an individual’s qualified plans over a one-year period, or (2) the greater of $10,000 or half the fair market value of an individual’s qualified retirement plans and the nonforfeitable portion of an individual's defined contribution plans.
To designate the facility of the United States Postal Service located at 3570 Olney Laytonsville Road in Olney, Maryland, as the "Edward L. Ramsey Olney Post Office Building".
Reaffirming the commitment of the United States to cooperate and partner with the Government of Honduras to counter narcotics and condemning the pardon of Juan Orlando Hernández.
Of inquiry requesting the President to transmit certain information to the House of Representatives referring to the firings, dismissal, reduction in force, or withholding of pay for the period of the lapse in appropriations of furloughed employees of the United States Government.