IRA Equity Act

[AI summary unavailable — showing source text] IRA Equity Act - Repeals provisions of the Tax Reform Act of 1986 that place limitations on: (1) individual retirement account (IRA) deductions for active participants in certain pension plans; and (2) nondeductible contributions to individual retirement plans. Amends the Internal Revenue Code to permit an individual filing a joint income tax return to include a spouse's compensation in calculations to determine the maximum amount permitted as a deduction for qualified retirement contributions (thus permitting a nonworking or the lesser-earning spouse a deduction of up to $2,000 for IRA contributions).…