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Middle Class Flexible Savings Act of 1993

Introduced: February 4, 1993 See on congress.gov
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This bill died when the 103rd Congress ended
It never became law before the 103rd Congress (1993–1994) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 4, 1993
Referred to the House Committee on Ways and Means.
Feb 4, 1993
Introduced in House
Feb 4, 1993
Sponsor introductory remarks on measure. (CR E305)
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 Plain-English summary Congressional Research Service

Middle Class Flexible Savings Act of 1993 - Amends the Internal Revenue Code to increase the retirement savings deduction and the maximum individual retirement account contribution from $2,000 to $3,000. Raises income phase-out limits. Provides an inflation adjustment for such amounts.

Allows higher retirement savings deductions for nonworking spouses in households with one or more children under the age of six.

Allows penalty-free distributions from certain retirement plans for: (1) qualified higher education expenses of the taxpayer, spouse, or child; (2) business start-up expenditures; and (3) medical expenses. Limits such distributions to individuals whose adjusted gross income does not exceed: $60,000 in the case of an unmarried individual, $70,000 in the case of a joint return, and $35,000 in the case of married individuals filing separately.

What's happening now February 4, 1993

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Norton, Eleanor Holmes
District of Columbia · Feb 23, 1993
 D
Scott, Robert C. "Bobby"
Virginia · Feb 23, 1993
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 822: Middle Class Flexible Savings Act of 1993. 103rd Congress. Open America. https://openamerica.io/bill/103-HR-822/
MLA
"H.R. 822: Middle Class Flexible Savings Act of 1993." 103rd Congress, 2026, Open America, https://openamerica.io/bill/103-HR-822/.
Bluebook (legal)
H.R. 822, 103rd Cong. (2026), https://openamerica.io/bill/103-HR-822/.
Markdown link
[H.R. 822: Middle Class Flexible Savings Act of 1993](https://openamerica.io/bill/103-HR-822/)
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