On a regular basis, we have advised our subscribers of the ever-expanding government mandates on employee benefits, minimum wages, sick leave, family and medical leave and the like. Well, yet another new mandate was proposed last week in the United States Senate – the Saving For The Future Act. Filed by declared democratic presidential candidate Senator Amy Klobuchar (D-MN) and Senator Christopher Coons (D-DE), the measure would mandate retirement contributions from private employers with 10 or more employees equal to 50 cents per employee hour worked for the first two years and 60 cents per employee hour worked thereafter. As an apparent bone to employers, businesses would receive tax credits for their contributions, however the plan calls for corporate tax rates to increase from 21% to 23% to pay for the credits and the top income tax rate would rise to 39.7% from the current 37%. Interesting enough, just one week prior, candidate Klobuchar unveiled a $650 billion infrastructure plan that she proposed paying for by raising the corporate tax rate to 25%. Does that make the 23% rate she’s now proposing a 2% reduction???