Roth IRAs are named after William Roth, a Republican who represented Delaware in Congress for 34 years, first in the House (four years) and then in the Senate (30 years). A fiscal conservative, Roth wanted to increase access to tax-advantaged retirement accounts in a way that lessened the short-term impact on the federal budget. Roth IRAs were created as part of the Taxpayer Relief Act of 1997, which was signed into law by then-President Bill Clinton.