WASHINGTON The Investment Company Institute is strongly supporting a new piece of legislation called The Growth Act, or Generating Retirement Ownership Through Long-Term Holding.

What ICI President Paul Schott Stevens likes about the plan, introduced in the U.S. House of Representatives two weeks ago by Reps. Paul Ryan (R-Wis.) and William Jefferson (D-La.), is that it would optimize the tax code for millions of Americans saving for retirement through mutual funds.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.