Contact Both of Your Senators by phone, e-mail and/or mail If you don’t know your Senators (contact both), you can look them up at the link below and then go to their office’s specific page to get their e-mail, phone, and mailing address.
https://www.senate.gov/senators/senators-contact.htm
Once you select your state your two senators should pop-up and there will be a hyperlink called Contact next to each Senator that will take you to their office’s page to make contact by e-mail, web-form, or phone.
Remember, the two problematic sections of the House Tax Bill are sections 138312 and 138314.
What Should I tell my House Representative or my Senator – Example email?
Consider the following outline for your email, letter or phone call. It is critical that you let them know the following.
That you are their constituent in their district (Contacting a Senator from another state or Congressmen/Congresswoman form another district is typically futile). Give your address so they know they represent you (e.g. I’m Sally Jones from Glendale, AZ).
Tell them is a misconception in Congress that self-directed IRAs are only something the wealthy do and that this only hurts the wealthy. It's helpful to be straightforward about who you are and about the size of your account. They need to know that this bill is going to disproportionately hurt IRA savers with IRAs less than $1M.
Here are some examples of how it could directly affect you, but it may help to put it into your own words and situation explaining how you’re not an ultra-wealthy person using their IRA to invest in hedge funds (that’s what they presume).
I’m a working American with a $X IRA just trying to get to an account balance I can retire on. This Bill will effectively kill my ability to grow a retirement account that I can retire and live on.
I’m a pilot, nurse, retired firefighter, realtor, etc. (insert profession or job so Congress doesn’t think this is just CEOs, doctors, lawyers, and wealthy heirs), and I have diligently contributed to my retirement account. I choose to invest some of my IRA into real estate, small businesses, start-ups, and crowdfunding offerings. These provisions will force me to sale my assets prematurely for a loss or will force me to distribute them where I will be subject to taxes and penalties.
Please oppose Sections 138312 and 138314 as they will cause drastic tax consequences for my IRA, and they will take away future investment choices that are important to growing my account to an amount I can retire on.
If you think the $10M cap is reasonable, say that so Congress doesn’t presume you’re an ultra-rich person with a $10M plus IRA (like some in Congress presume anyone opposing this bill is). We’re not opposing the $10M cap in our efforts as it effects very few account holders who self-direct.
Tell them thank you for their service. Don’t attack them or be mean or rude. Be smart in your comments. Remember, a kind word will go a lot farther than ranting and raving.
