(f) REGULATIONS.—The Secretary of Labor shall 
prescribe such regulations as may be necessary to carry 
out the provisions of this section, including exempting a 
person or class of persons from the requirements of this 
section. 
SEC. 208. INVESTIGATIVE AUTHORITY. 
Any authority available to the Secretary of Labor 
under section 504 of the Employee Retirement Income Se-
curity Act of 1974 (29 U.S.C. 1134) is hereby made avail-
able to the Secretary of Labor, and any officer designated 
by the Secretary of Labor, to determine whether any per-
son has violated, or is about to violate, any provision of 
sections 206 or 207. 
SEC. 209. EXCULPATORY PROVISIONS; INSURANCE. 
(a) EXCULPATORY PROVISIONS VOID.—Any provi-
sion in an agreement or instrument which purports to re-
lieve a fiduciary from responsibility or liability for any re-
sponsibility, obligation, or duty under this title shall be 
void. 
(b) INSURANCE.—In accordance with section 101(e), 
the sums credited to the Fund shall be available to pay 
administrative expenses which may include, at the discre-
tion of the Executive Director, the purchase of insurance 
to cover potential liability of persons who serve in a fidu-
ciary capacity with respect to the Fund, without regard 
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to whether a policy of insurance permits recourse by the 
insurer against the fiduciary in the case of a breach of 
a fiduciary obligation. 
SEC. 210. SUBPOENA AUTHORITY. 
(a) SUBPOENA AUTHORITY.—In order to carry out 
the responsibilities specified in this Act, the Executive Di-
rector may issue subpoenas commanding each person to 
whom the subpoena is directed to produce designated 
books, documents, records, electronically stored informa-
tion, or tangible materials in the possession or control of 
that individual. 
(b) LIABILITY.—Notwithstanding any Federal, State, 
or local law, any person, including officers, agents, and 
employees, receiving a subpoena under this section, who 
complies in good faith with the subpoena and thus pro-
duces the materials sought, shall not be liable in any court 
of any State or the United States to any individual, do-
mestic or foreign corporation or upon a partnership or 
other unincorporated association for such production. 
(c) ENFORCEMENT.—When a person fails to obey a 
subpoena issued under this section, the district court of 
the United States for the district in which the investiga-
tion is conducted or in which the person failing to obey 
is found, shall on proper application issue an order direct-
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ing that person to comply with the subpoena. The court 
may punish as contempt any disobedience of its order. 
(d) REGULATIONS.—The Executive Director shall 
prescribe regulations to carry out subsection (a). 
TITLE III—TAX CODE 
PROVISIONS 
SEC. 301. GOVERNMENT MATCH TAX CREDIT. 
(a) IN GENERAL.—Subpart A of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code of 
1986 is amended by inserting after section 25E the fol-
lowing new section: 
‘‘SEC. 25F. GOVERNMENT MATCH TAX CREDIT. 
‘‘(a) ALLOWANCE OF CREDIT.—In the case of an eli-
gible individual, there shall be allowed as a credit for the 
taxable year an amount equal to the sum of— 
‘‘(1) 1 percent of the eligible individual’s gross 
income, plus 
‘‘(2) the applicable percentage of the partici-
pant’s contributions to the American Worker Retire-
ment Fund during the taxable year. 
‘‘(b) APPLICABLE PERCENTAGE.—For purposes of 
this section, the applicable percentage is— 
‘‘(1) 100 percent of so much of the contribu-
tions to the American Worker Retirement Fund as 
do not exceed 3 percent of gross income, 
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‘‘(2) 50 percent of so much of such contribu-
tions as exceeds 3 percent but does not exceed 5 per-
cent of gross income, and 
‘‘(3) 0 percent for such contributions that ex-
ceed 5 percent of so much of such contributions as 
exceeds 5 percent of gross income. 
‘‘(c) PHASEOUT.— 
‘‘(1) IN
GENERAL.—The credit determined 
under subsection (a) shall be reduced by $75 for 
each $1,000 or portion thereof by which the eligible 
individual’s gross income exceeds the phaseout 
amount. 
‘‘(2) PHASEOUT
AMOUNT.—For purposes of 
paragraph (1), the phaseout amount is— 
‘‘(A) in the case of a joint return, an 
amount equal to 200 percent of the United 
States median income for the preceding taxable 
year, as determined by the Secretary, 
‘‘(B) in the case of a head of household (as 
defined in section 2(b)), 3⁄4 of the amount de-
termined under subparagraph (A), and 
‘‘(C) in any other case, 1⁄2 of the amount 
determined under subparagraph (A). 
‘‘(d) ELIGIBLE INDIVIDUAL.—For purposes of this 
section, the term ‘eligible individual’ has the meaning 
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given the term ‘participant’ by section 2(13) of the Retire-
ment Savings for Americans Act of 2022. 
‘‘(e) AMERICAN WORKER RETIREMENT FUND.—For 
purposes of this section, the American Worker Retirement 
Fund is the Fund created under section 101(a) of the Re-
tirement Savings for Americans Act of 2022. 
‘‘(f) DEPOSIT INTO PARTICIPANT’S ACCOUNT.— 
‘‘(1) IN GENERAL.—Any amount allowed as a 
credit under subsection (a)— 
‘‘(A) shall not be allowed as a credit 
against any tax imposed by this subtitle, and 
‘‘(B) shall be treated as an overpayment 
under section 6401(b). 
‘‘(2) PAYMENT.—The Secretary shall contribute 
the amount treated as an overpayment under para-
graph (1) to the eligible individual’s account with 
the American Worker Retirement Fund. 
‘‘(g) ADVANCE PAYMENT.— 
‘‘(1) REGULATIONS.—The Secretary shall pre-
scribe regulations to provide that the payments 
made under subsection (f) are made as concurrently 
as is reasonably possible with contributions by a tax-
payer to the American Worker Retirement Fund. 
Such regulations shall provide that, for purposes of 
such payments, the credit under subsection (a) may 
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