A bill to provide for automatic adjustment of deduction to individual retirement accounts, et cetera.

Summary

Amends the Internal Revenue Code to provide, in the case of retirement savings accounts, for an automatic annual adjustment of the $1,500 maximum deduction for individuals ($1,750 for certain married individuals) to the nearest multiple of $50 for increases in the cost- of-living in accordance with regulations prescribed by the Secretary of the Treasury.

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

Timeline

1. 2 August 1977

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 2 August 1977

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 2 August 1977

  Open at official source

Sponsors

• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Melcher, John [D-MT] · D · Cosponsor
• Sen. Gravel, Mike [D-AK] · D · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• · ssfi00 · Standing

Related records

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