A bill to increase the maximum annual dollar amount limitation on deductions allowed under the Internal Revenue Code of 1954 for contributions to an individual retirement account of a spouse and to provide that the limitation relating to the amount of compensation received shall be computed on the basis of the combined compensation of a husband and wife.

Summary

Amends the Internal Revenue Code to increase the maximum dollar amount limitation to $2,000 on deductions allowed for contributions to an individual retirement account of a spouse and to provide that the deduction for the individual retirement account shall be computed for married individuals on the basis of their combined compensation.

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

Timeline

1. 28 March 1985

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 28 March 1985

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 1 April 1985

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 28 March 1985

  Open at official source

Sponsors

• Sen. McClure, James A. [R-ID] · R · Sponsor
• Sen. East, John P. [R-NC] · R · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Cosponsor
• · ssfi00 · Standing

Related records

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