Automatic IRA Act of 2006

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Sep 27, 2006

Automatic IRA Act of 2006 - Amends the Internal Revenue Code to: (1) require certain small employers who do not offer qualified retirement plans or arrangements to their employees to allow eligible employees to participate in a payroll deposit individual retirement account (IRA) arrangement (automatic IRAs); (2) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing a payroll deposit IRA arrangement; and (3) treat automatic IRAs as individual retirement accounts (and as Roth IRAs) for income tax purposes.

Establishes in the executive branch the TSP II Board to establish policies and procedures relating to payroll deposit IRA arrangements.

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People & committees

Who introduced it

Sen. Bingaman, Jeff [D-NM] · D–NM

Committees

Finance Committee

2 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Sep 27, 2006
Read twice and referred to the Committee on Finance.
Sep 27, 2006
Sponsor introductory remarks on measure. (CR S10293-10302)
Sep 27, 2006
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Sep 27, 2006 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

Source last updated: Dec 5, 2025. Consult Congress.gov for the current record.

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Objective

Analyze S.3952 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.3952, 109th Congress: Automatic IRA Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/3952

Text version to examine: Introduced in Senate · 2006-09-27.

Official full text: https://www.congress.gov/109/bills/s3952/BILLS-109s3952is.htm

Imported record last updated by the source: 2025-12-05T18:50:23Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.3952 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.3952 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.3952, 109th Congress: Automatic IRA Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/3952

Text version to examine: Introduced in Senate · 2006-09-27.

Official full text: https://www.congress.gov/109/bills/s3952/BILLS-109s3952is.htm

Imported record last updated by the source: 2025-12-05T18:50:23Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3952 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.3952 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss S.3952, 109th Congress: Automatic IRA Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/3952

Text version to examine: Introduced in Senate · 2006-09-27.

Official full text: https://www.congress.gov/109/bills/s3952/BILLS-109s3952is.htm

Imported record last updated by the source: 2025-12-05T18:50:23Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3952 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.3952 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.3952, 109th Congress: Automatic IRA Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/senate-bill/3952

Text version to examine: Introduced in Senate · 2006-09-27.

Official full text: https://www.congress.gov/109/bills/s3952/BILLS-109s3952is.htm

Imported record last updated by the source: 2025-12-05T18:50:23Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.3952 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.