Amends the Internal Revenue Code to permit a married taxpayer filing a joint return to deduct from gross income certain amounts paid to an individual retirement account established for the benefit of a working spouse.
Increases from $1,125 to $2,000 the allowable deduction for contributions to an individual retirement account for certain divorced taxpayers.
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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