A bill to amend the Internal Revenue Code of 1954 to provide that an individual shall be entitled to a tax credit equal to the amount by which the purchasing power of his adjusted gross income for the taxable year is reduced by inflation.

referredUnited States· United States Congress· EN

Introduced

23 April 1974

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Provides, under the Internal Revenue Code, that an individual shall be entitled to a tax credit for an amount equal to the taxpayer's adjusted gross income multiplied by the rate of inflation. Prescribes the procedure for calculation of such rate of inflation in terms of the Consumer Price Index.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Introduced in House
summary · EN · 23 April 1974
Open at official source

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/93rd-congress/house-bill/14324
Open data entity: https://api.congress.gov/v3/bill/93/hr/14324