A bill to amend the Internal Revenue Code of 1986 to promote lifetime savings by allowing people to establish child savings accounts within Roth IRAs and by allowing the savings to be used for education, first time home purchases, and retirement, to expand the availability of Roth IRAs to all Americans and to protect their contributions from inflation, and for other purposes.
Title II: Expansion of Availability of IRAs - Provides for an inflation adjustment to the IRA deductible amount. Repeals the adjusted gross limitation on contributions and rollovers to Roth IRAs.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S5054-5056)
Read twice and referred to the Committee on Finance.
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