HR 890 · 98th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the limitations on the deduction for individual retirement savings and to allow individuals covered by employer plans to qualify for such deduction.

Introduced 1983-01-25· Sponsored by Rep. Sawyer, Harold S. [R-MI-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1983-01-25)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase to $5,000 ($7,500 for married couples) the limitation on the income tax deduction for individual retirement savings. Allows individuals covered by employer plans to qualify for the deduction for retirement savings.…

Summarized by Claude AI · Non-partisan · For informational purposes only