A bill to amend the Internal Revenue Code of 1954 to increase to $10,000 the amount of savings interest which may be excluded from gross income by individuals and to make such exclusion permanent.

Summary

Amends the Internal Revenue Code to exclude from gross income up to $10,000 interest income earned on savings accounts. Makes such exclusion permanent.

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

Timeline

1. 11 June 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 11 June 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 June 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 · 11 June 1981

  Open at official source

Sponsors

• Rep. Hammerschmidt, John P. [R-AR-3] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to increase to $10,000 the amount of savings interest which may be excluded from gross income by individuals and to make such exclusion permanent.
• related to → A bill to amend the Internal Revenue Code of 1954 to increase to $10,000 the amount of savings interest which may be excluded from gross income by individuals and to make such exclusion permanent.
• related to ← Economic Recovery Tax Act of 1981