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Abut six weeks ago, I read in the paper that a bill was before Congress which would gradually increase the maximum contribution to Roth IRAs to $5000 per year, with people like me (over 50) able to go directly to the max amount in 2001. I have not heard another word about it, but then I don't follow the news too closely. Has anyone heard about that proposal and its outcome?

The bill is HR 1102, passed by the House and scheduled for Senate consideration in September. The White House has indicated it will be vetoed if passed in its current form. I wouldn't count on anything being enacted this year, but if something is, you can be sure we'll be writing about it here at the Fool.

Phil Marti
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