S 1950
98th Congress
Senate
Taxation
Income tax
Individual retirement accounts
Labor and Employment
Married people
Tax deductions
Tax-deferred compensation plans
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 7, 1983
See on congress.gov
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
Plain-English summary
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.
What's happening now
Committee on Finance requested executive comment from OMB, Treasury Department.
Committees of jurisdiction
1
Cosponsors
1