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- H.R.1389
H.R.1389: Middle Class Flexible Savings Act of 1995
About This Bill
- This bill was introduced in the 104th Congress
- This bill is primarily about taxation
- Introduced April 4, 1995
- Latest Major Action April 4, 1995
Bill Sponsor
Bill Cosponsors
14 (13 Democrats, 1 Independent Democrat)
Bill Summary
Middle Class Flexible Savings Act of 1995 - Amends the Internal Revenue Code to increase from $2,000 to $3,000 the maximum deduction allowed to individuals for contributions to individual retirement accounts (IRAs). Increases the income phaseout limits on the deduction for active participants in employer-maintained pension plans. Provides an inflation adjustment for deductible amounts and the phaseout limits beginning after 1995. Allows the...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| April 4, 1995 |
Introduced in the House by Maurice D. Hinchey (D-N.Y.) |