Kids Invest and Develop Savings Act of 2007
Latest action · May 3, 2007 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 3, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Kids Invest and Develop Savings Act of 2007 - Amends the Internal Revenue Code to: (1) increase the allowable amount of the tax credit for retirement savings; (2) expand eligibility for such credit to taxpayers with adjusted gross incomes up to $95,000 ($150,000 for joint returns); (3) establish tax-exempt Roth individual retirement accounts (IRAs) for individuals under the age of 25; and (4) allow a tax credit for contributions to such IRAs.
Cosponsors 18
Members who signed on, in the order they did. Signatures ran from May 3, 2007 to Jun 21, 2007, with 12 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Ander Crenshaw | Original | May 3, 2007 |
| R-FL | Jeff Miller | Original | May 3, 2007 |
| R-AL | Jo Bonner | Original | May 3, 2007 |
| R-CA | John Campbell | Original | May 3, 2007 |
| R-GA | Lynn A. Westmoreland | Original | May 3, 2007 |
| R-FL | Mario Diaz-Balart | Original | May 3, 2007 |
| R-CA | Mary Bono | Original | May 3, 2007 |
| R-TX | Pete Sessions | Original | May 3, 2007 |
| R-PA | Phil English | Original | May 3, 2007 |
| D-LA | Rodney Alexander | Original | May 3, 2007 |
| R-FL | Tom Feeney | Original | May 3, 2007 |
| R-FL | Vern Buchanan | Original | May 3, 2007 |
| D-IL | Jesse L. Jackson, Jr. | May 15, 2007 | |
| R-IN | Mike Pence | May 15, 2007 | |
| R-MS | Charles W. "Chip" Pickering | May 24, 2007 |
Actions 2
Everything that happened, newest first.
- May 3, 2007Introduced in House
- May 3, 2007Referred to the House Committee on Ways and Means.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 3, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.
