Senator Tommy Tuberville is making another push for crypto-friendly retirement savings, announcing the return of his “Financial Freedoms Act” to seemingly bolster Donald Trump’s crypto credentials.
In a Fox News interview aired March 31, the Alabama senator declared his plans to reintroduce the bill, after prior attempts stalled in 2022 and 2023, aiming to loosen Department of Labor regulations on 401(k) investment choices.
Tuberville articulated the legislation’s goal as providing individuals with “a chance to breathe” and greater autonomy over their investment decisions, aligning it with support for former President Trump, whom he called a “crypto president.”
The Financial Freedom Act, initially presented in May 2022, advocates for less restrictive rules concerning the types of investments permitted within 401(k) retirement plans.
Despite Senator Tuberville’s stated intention to re-table the bill on April 1, congressional records, at the time of reporting, showed no immediate activity on the proposed legislation.