To amend the Internal Revenue Code of 1986 to increase the maximum amount which may be contributed annually to an individual retirement plan to $5,000 and to increase the maximum amount which may be contributed annually to an education individual retirement account to $2,000.
Retirement and Education Assets Power Act - Amends the Internal Revenue Code, with respect to certain deductions from gross income, to increase: (1) from $2,000 to $5,000 the maximum annual contribution to an individual retirement account (IRA); and (2) from $500 to $2,000 the maximum annual contribution to an education IRA.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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