[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 293 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 293

 To amend the Internal Revenue Code of 1986 to eliminate the marriage 
            penalty in the contribution rules for Roth IRAs.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 20, 2005

  Mr. Hefley introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to eliminate the marriage 
            penalty in the contribution rules for Roth IRAs.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ELIMINATION OF MARRIAGE PENALTY IN CONTRIBUTION RULES FOR 
              ROTH IRAS.

    (a) Phaseout Range.--Clause (ii) of section 408A(c)(3)(A) of the 
Internal Revenue Code of 1986 (relating to dollar limit) is amended to 
read as follows:
                            ``(ii) $15,000 ($30,000 in the case of a 
                        joint return).''.
    (b) Phaseout Threshold.--Clause (ii) of section 408A(c)(3)(C) of 
such Code is amended--
            (1) in subclause (I)--
                    (A) by striking ``$150,000'' and inserting 
                ``$190,000'', and
                    (B) by inserting ``and'' at the end,
            (2) in subclause (II) by striking ``, and'' and inserting a 
        period, and
            (3) by striking subclause (III).
    (c) Rollover From IRA.--Subparagraph (B) of section 408A(c)(3) of 
such Code is amended by striking ``relates--'' and all that follows and 
inserting ``relates, the taxpayer's adjusted gross income exceeds 
$100,000 ($200,000 in the case of a joint return).''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2004.
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