The agreement preserves nearly all of the 2001-2010 tax cuts (with a few key exceptions) and delays most scheduled automatic spending reductions for two months.

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Biden is also expected to be one of the key players in coming fiscal fights: automatic spending cuts set to take effect in a month, funding the government and the debt ceiling.

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But the key here is that the employer has to offer both a 401(k) plan and automatic enrollment.

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