To amend the Internal Revenue Code of 1986 to expand incentives for saving.
Lifetime Prosperity Act of 2005 - Amends the Internal Revenue Code to: (1) make permanent the tax credit for retirement savings contributions; (2) revise the applicable percentage and dollar limitations for such credit; (3) provide for an inflation adjustment to adjusted gross income limitations applicable to such credit; and (4) allow a tax credit for contributions to Roth IRAs for children (under age 25).
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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