legislation: 98-s-2345

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
98-s-2345 98 s 2345 A bill to provide an Individual Retirement Account credit in lieu of a deduction and to extend Individual Retirement Account benefits to non-working spouses and divorced persons. Taxation 1984-02-27 1984-03-01 Committee on Finance requested executive comment from OMB, Treasury Department. Senate Sen. Moynihan, Daniel Patrick [D-NY] NY D M001054 0 Amends the Internal Revenue Code to provide that the compensation of the higher-paid spouse may be taken into account in determining the income tax deduction for contributions to the individual retirement account of the other spouse. Treats alimony as compensation for purposes of determining the income tax deduction for contributions to an individual retirement account. Allows an income tax credit in lieu of the income tax deduction presently allowed for contributions to an individual retirement account. Sets the amount of such credit at 35 percent of the amount which would be deductible under present law. 2025-01-03T20:54:05Z https://www.congress.gov/bill/98th-congress/senate-bill/2345

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