Small Business Savings Accounts

A bill recently introduced, which is entitled Savings Accounts for a Variable Economy (SAVE) for Small Business Act (H.R. 4608), would allow tax deductible contributions up to 10% of gross receipts for the preceding year. Qualified distributions (distributions taken during periods of economic hardship or as part of a plan to hire or retain workers) would be tax free. This savings opportunity would be limited to companies with 50 or fewer full-time employees (40 hours of service per week). Chances of enactment: ??