Improve and Enhance the Work Opportunity Tax Credit Act

House Bill

H.R. 1177

119th Congress

Improve and Enhance the Work Opportunity Tax Credit Act

In Committee

Introduced:Sep 19, 2025

Primary Sponsor

Linda T. Sánchez

Representative

Democratic

CA-38

Cosponsors

5

Quick Stats

Policy Area

Labor and Employment

Summary

This bill would prevent the Department of Labor from limiting the types of investments that can be offered in certain employer-sponsored retirement plans, like 401(k)s that allow participants to choose their own investments. This would give people more flexibility in how they invest their retirement savings.

Latest Action

Referred to the House Committee on Education and the Workforce.

AI Summary

Plain-English explanation of this bill

This bill would prevent the Department of Labor from limiting the types of investments that can be offered in certain employer-sponsored retirement plans, like 401(k)s that allow participants to choose their own investments. This would give people more flexibility in how they invest their retirement savings.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Financial Freedom Act of 2023 This bill prohibits the Department of Labor from limiting the type or range of investments that fiduciaries may offer participants and beneficiaries in certain employer-sponsored retirement plans. The bill applies to certain defined contribution plans that permit participants or beneficiaries to exercise control over the assets in the account, such as a 401(k) plan that allows participants or beneficiaries to select additional investment options through a self-directed brokerage window.

Key Points

Main provisions of the bill

Prohibits the Department of Labor from restricting the investment options that can be offered in certain employer-sponsored retirement plans
Applies to defined contribution plans that let participants choose their own investments, like 401(k)s with self-directed brokerage windows
Aims to give people more control and flexibility over how they invest their retirement savings

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, it would affect anyone with an employer-sponsored retirement plan that allows them to self-direct their investments. They would have more choice in the types of assets they can invest in, potentially giving them more control over their retirement savings.

Policy Areas

Primary Policy Area

Labor and Employment

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

1177, 119th Congress (2025). "Improve and Enhance the Work Opportunity Tax Credit Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-1177