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Bills Would Delay Home Buying Fund Taxes in Congress
Congress considers six bills to let Americans set up tax deferred accounts to buy homes. Tower's Mortgage Retirement Account Act would link IRAs and mortgage savings with no individual cap beyond 2000 a year, and tax due if used before age 59. Other proposals seek IRA conversions or new housing accounts, drawing administration scrutiny.
MENTIONED IN THIS ARTICLE
Washington
Congress
John Tower
Texas
Senate Housing Subcommittee
Tower
Treasury
Harold S. Sawyer
R-Mich