Middle Class Flexible Savings Act of 1995

Summary

Middle Class Flexible Savings Act of 1995 - Amends the Internal Revenue Code to increase from $2,000 to $3,000 the maximum deduction allowed to individuals for contributions to individual retirement accounts (IRAs). Increases the income phaseout limits on the deduction for active participants in employer-maintained pension plans. Provides an inflation adjustment for deductible amounts and the phaseout limits beginning after 1995. Allows the full IRA deduction to a spouse who had less than $1,000 of compensation and who has a child under the age of six who is the taxpayer's dependent. Allows distributions from qualified retirement plans without penalty to: (1) pay higher education expenses or business start-up expenditures; (2) pay for certain medical expenses; (3) assist certain unemployed individuals; and (4) purchase first homes. Imposes a minimum tax on certain foreign-owned and foreign corporations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 4 April 1995

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 4 April 1995

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 April 1995

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 4 April 1995 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 April 1995

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 April 1995

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 4 April 1995

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Hinchey, Maurice D. [D-NY-22] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Rep. Brown, George E., Jr. [D-CA-42] · D · Sponsor
• Rep. Frost, Martin [D-TX-24] · D · Sponsor
• Rep. Fattah, Chaka [D-PA-2] · D · Sponsor
• Rep. Owens, Major R. [D-NY-11] · D · Sponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
• Del. Underwood, Robert A. [D-GU-At Large] · D · Sponsor
• Rep. Martinez, Matthew G. [D-CA-31] · D · Sponsor
• Rep. Nadler, Jerrold [D-NY-12] · D · Cosponsor
• Rep. Evans, Lane [D-IL-17] · D · Cosponsor
• Rep. Serrano, Jose E. [D-NY-15] · D · Cosponsor
• Rep. Gutierrez, Luis V. [D-IL-4] · D · Cosponsor
• Rep. Gejdenson, Sam [D-CT-2] · D · Cosponsor
• Rep. McKinney, Cynthia A. [D-GA-4] · D · Cosponsor
• · hswm00 · Standing

Related records

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