A bill to amend the Internal Revenue Code of 1954 to phase-in over a 3-year period a $300 increase in the amount of interest and dividends each individual may exclude from gross income, and to make such exclusion permanent.

Summary

Amends the Internal Revenue Code to increase to $500 ($1,000 in the case of a joint return), by specified annual increments through 1984, the amount of interest and dividend income which may be excluded from gross income. Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for such exclusion.

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

Timeline

1. 25 March 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 25 March 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 March 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 August 1981

   Committee

   See H.R.4242.

   Source: Committee

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 · 25 March 1981

  Open at official source

Sponsors

• Rep. Tauke, Thomas Joseph [R-IA-2] · R · Sponsor
• Rep. Clay, William (Bill) [D-MO-1] · D · Sponsor
• Rep. Lungren, Daniel E. [R-CA-3] · R · Sponsor
• Rep. Burgener, Clair W. [R-CA-43] · R · Sponsor
• Rep. Bedell, Berkley W. [D-IA-6] · D · Cosponsor
• Rep. Collins, James M. [R-TX-3] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Economic Recovery Tax Act of 1981