A bill to amend the Internal Revenue Code of 1954 to provide that certain married individuals shall be eligible for the deduction for retirement savings on the basis of earned income of their spouses and to increase in 3 steps the limit on deductions for retirement savings from $2,000 to $5,000.
Economic Growth and Retirement Act of 1983 - Amends the Internal Revenue Code to allow certain married individuals to be eligible for the income tax deduction for retirement savings on the basis of the earned income of their spouses.
Increases the maximum amount of the deduction for retirement savings to $5,000. Phases in this increased deduction over a three-year period.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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