Amends the Internal Revenue Code to increase the maximum tax deduction allowed for amounts contributed to retirement savings plans by a married couple where one spouse has no earned income from $2,250 to $4,000. Increases the maximum deduction allowed for certain divorced individuals from $1,125 to $2,000.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB, Treasury Department.
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