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HR 1357 106th Congress House

Retirement and Education Assets Power Act

Official title: To amend the Internal Revenue Code of 1986 to increase the maximum amount which may be contributed annually to an individual retirement plan to $5,000 and to i… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to increase the maximum amount which may be contributed annually to an individual retirement plan to $5,000 and to increase the maximum amount which may be contributed annually to an education individual retirement account to $2,000.

Introduced: April 15, 1999 See on congress.gov
Taxation College costsEducationEducation savings accountsHigher education
More subjectsShow fewer subjects
Income taxIndividual retirement accountsLabor and EmploymentPersonal income taxTax deductionsTax exclusion
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 25, 1999
Referred to the House Committee on Ways and Means.
Mar 25, 1999
Introduced in House
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 Latest action March 25, 1999

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Retirement and Education Assets Power Act - Amends the Internal Revenue Code, with respect to certain deductions from gross income, to increase: (1) from $2,000 to $5,000 the maximum annual contribution to an individual retirement account (IRA); and (2) from $500 to $2,000 the maximum annual contribution to an education IRA.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Republican 1
Toomey, Patrick
· Oct 12, 1999
 R
Sessions, Pete
Texas · Apr 15, 1999
Burr, Richard
· Mar 25, 1999
FROST, MARTIN
· Mar 25, 1999
NETHERCUTT, GEORGE
· Mar 25, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1357: Retirement and Education Assets Power Act. 106th Congress. Open America. https://openamerica.io/bill/106-HR-1357/
MLA
"H.R. 1357: Retirement and Education Assets Power Act." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-1357/.
Bluebook (legal)
H.R. 1357, 106th Cong. (2026), https://openamerica.io/bill/106-HR-1357/.
Markdown link
[H.R. 1357: Retirement and Education Assets Power Act](https://openamerica.io/bill/106-HR-1357/)
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