IRA's contribution increases???

[Guest darren]

I recall a number of months ago talk about increasing the maximum contribution to IRA's to near $5000 or higher. Has there been any further discussion or steps taken to pass this idea???

thanks, darren

[BPickerCPA]

It's passed the House of REpresentatives and the bill now goes to the Senate.

[John G]

The House bill related to IRAs was HR 10 which passed with 400+ votes. The companion Roth site mentioned below has references to bill summaries and complete text. While it is likely that the IRA limits will be changed, a call to your representative would nudge it along.

http://www.rothira.com