IRA Savings Opportunity Act of 1997

IRA Savings Opportunity Act of 1997 - Amends the Internal Revenue Code, with respect to retirement savings plans, to, among other things: (1) double income limitations; (2) permit a worker without an employer plan to contribute an additional $2,000 to a plan; and (3) allow a credit of 20 percent, subject to income limitations, for amounts which would otherwise be allowed as a qualified retirement deduction.