Homemakers May Get Ira Deduction

Homemakers would be allowed the same Individual Retirement Account deductions as their working spouses under legislation introduced Thursday.

Renewing a charge they began last year, Republican Sen. Kay Bailey Hutchison of Texas and Democratic Sen. Barbara Mikulski of Maryland said the tax code discriminates against stay-at-home spouses, inhibits savings and doesn’t promote the family structure.

“All women work, whether they work in the marketplace or they work at home - and this gives value to that,” said Mikulski.

The measure would allow married couples with one paycheck a maximum $4,000 deduction per year - up from the current $2,250.