A bill to amend the Internal Revenue Code of 1954 to increase the limitations on the deduction for individual retirement savings and to allow individuals covered by employer plans to qualify for such deduction.

Summary

Amends the Internal Revenue Code to increase the limitation to $5,000 ($7,000 for married individuals) on the income tax deduction for individual retirement savings. Allows individuals covered by employer plans to qualify for the deduction for retirement savings.

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

Timeline

1. 11 June 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 11 June 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 June 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 August 1981

   Committee

   See H.R.4242.

   Source: Committee

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 · 11 June 1981

  Open at official source

Sponsors

• Rep. Sawyer, Harold S. [R-MI-5] · R · Sponsor
• Rep. Murphy, Austin J. [D-PA-20] · D · Sponsor
• Rep. Clay, William (Bill) [D-MO-1] · D · Sponsor
• Rep. Butler, M. Caldwell [R-VA-6] · R · Sponsor
• Rep. Price, Melvin [D-IL-21] · D · Sponsor
• Rep. Evans, Billy Lee [D-GA-8] · D · Sponsor
• Rep. Kindness, Thomas N. [R-OH-8] · R · Sponsor
• Rep. Burgener, Clair W. [R-CA-43] · R · Cosponsor
• Rep. Crockett, George W., Jr. [D-MI-13] · D · Cosponsor
• Rep. Jeffries, Jim [R-KS-2] · R · Cosponsor
• Rep. Railsback, Thomas F. [R-IL-19] · R · Cosponsor
• Rep. Gingrich, Newt [R-GA-6] · R · Cosponsor
• Rep. Livingston, Bob [R-LA-1] · R · Cosponsor
• Rep. Dornan, Robert K. [R-CA-46] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Economic Recovery Tax Act of 1981