eliminate the contribution limits to Roth IRAs and raise the income ceiling that prevents contributions to Roth IRAs.

Eliminate the contribution limits to Roth IRAs and raise the income limits that restrict or prevent contributing to Roth IRAs significantly to allow families to more effectively save for their retirement. The current income limits restrict normal working families who live in high cost of living areas from contributing to Roth IRAs. The current contribution limits of $5,000 and $5,500 if over 55 are not sufficient to enable a family to save sufficiently for retirement. Roth IRAs are post-tax retirement accounts and so increasing both restrictions would not impact the government's ability to collect taxes and it would empower families to save more effectively for retirement in an economy driven by private sector jobs without pensions.