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S 1950 98th Congress Senate

A bill to amend the Internal Revenue Code of 1954 to increase the annual contribution limit for individual retirement accounts from $2,000 to $3,000 and to make such accounts more equitable in the…

Official title: A bill to amend the Internal Revenue Code of 1954 to increase the annual contribution limit for individual retirement accounts from $2,000 to $3,000 and to mak… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1954 to increase the annual contribution limit for individual retirement accounts from $2,000 to $3,000 and to make such accounts more equitable in the case of lesser earning and nonworking spouses.

Introduced: October 26, 1983 See on congress.gov
Taxation Income taxIndividual retirement accountsLabor and EmploymentMarried people
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Tax deductionsTax-deferred compensation plans
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This bill died when the 98th Congress ended
It never became law before the 98th Congress (1983–1984) 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
Oct 14, 1983
Committee on Finance requested executive comment from OMB, Treasury Department.
Oct 7, 1983
Read twice and referred to the Committee on Finance.
Oct 7, 1983
Introduced in Senate
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 Latest action October 14, 1983

Committee on Finance requested executive comment from OMB, Treasury Department.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to increase the income tax deduction for contributions to individual retirement accounts from $2,000 to $3,000. Allows the maximum deduction for non-working spouses.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Oct 26, 1983
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APA
U.S. Congress. (2026). S. 1950: A bill to amend the Internal Revenue Code of 1954 to increase the annual contribution limit for individual retirement accounts from $2,000 to $3,000 and to make such accounts more equitable in the case of lesser earning and nonworking spouses.. 98th Congress. Open America. https://openamerica.io/bill/98-S-1950/
MLA
"S. 1950: A bill to amend the Internal Revenue Code of 1954 to increase the annual contribution limit for individual retirement accounts from $2,000 to $3,000 and to make such accounts more equitable in the case of lesser earning and nonworking spouses.." 98th Congress, 2026, Open America, https://openamerica.io/bill/98-S-1950/.
Bluebook (legal)
S. 1950, 98th Cong. (2026), https://openamerica.io/bill/98-S-1950/.
Markdown link
[S. 1950: A bill to amend the Internal Revenue Code of 1954 to increase the annual contribution limit for individual retirement accounts from $2,000 to $3,000 and to make such accounts more equitable in the case of lesser earning and nonworking spouses.](https://openamerica.io/bill/98-S-1950/)
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