A bill to amend the Internal Revenue Code of 1954 to allow a retirement savings deduction for persons covered by certain pension plans.

Summary

Amends the Internal Revenue Code to allow a deduction from the gross income of an employee for cash contributions made for his benefit to: (1) a qualified pension, profit sharing, or stock bonus plan; (2) a qualified annuity plan; (3) a qualified bond purchase plan; or (4) an individual retirement account. Limits such deduction to ten percent of the employee's compensation for the taxable year or $1,000, whichever is less.

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Timeline

1. 17 August 1978

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 17 August 1978

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 August 1978

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 17 August 1978

  Open at official source

Sponsors

• Rep. Corcoran, Tom [R-IL-14] · R · Sponsor
• · hswm00 · Standing

Related records

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