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Democrats put 401(k) and IRA restrictions for the rich back into their Build Back Better plan
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cnbc.comHouse Democrats proposed several rules to curb retirement accounts of the rich, part of a broad restructuring of the tax code tied to the party's Build Back Better social and climate spending package.
Wealthy individuals with more than $10 million in retirement savings would have to draw down their accounts each year, in a new type of required minimum distribution, or RMD, according to updated legislation issued Wednesday evening by the House Budget Committee.
Lawmakers would also close
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