GALBUT BEABEAU, PC for VANTAGE RETIREMENT PLANS, L.L.C.
What was lobbied
One issue area, each in the filer's own words, with who lobbied on it and where.
Financial Institutions/Investments/Securities FIN
Lobbied to remove Sections 138312 and 138314 from the Reconciliation Bill. These provisions would significantly limit, if not completely restrict, self-directed IRA investments into small businesses, start-ups, real estate (using an IRA/LLC), and crowdfunding. Sections 138312 and 138314 should be removed from the bill. Section 138312 prohibits IRA investments when the investment is only permitted based on an asset or income levels of the investor. If enacted, this section will hurt small businesses and start-ups working to raise money from accredited investors. Section 138314 would significantly affect retirement savers and investors who buy real estate, most commonly single-family rental properties, with their IRA. IRA savers would be forced to hire financial advisors, tax lawyers, or other professionals to manage their IRA-owned LLCs, increasing expenses and taking investment control away from the saver. These provisions do not align with the bills intent to implement restrictions on the ultra-wealthy, but instead harms average Americans saving for retirement.
| Lobbyist | Covered position, as disclosed |
|---|---|
| MACI BURKE | — |
| BRITTANY CHETOCHINE | — |
| KEITH GALBUT | — |
Shown as published by the Senate Office of Public Records and the House Clerk under the Lobbying Disclosure Act. The official filing is the record; open it for the full form.