A bill to amend the Internal Revenue Code of 1954 to increase the amount of dividends and interest which are excluded from gross income, and for other purposes.

Summary

Amends the Internal Revenue Code to increase, beginning in 1985, the amount of interest and dividend income which may be excluded from gross income to $200 ($400 for joint returns) plus 25 percent of the income which exceeds such limits. Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for such exclusion.

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Documents

1 official file

• Introduced in House

  summary · EN · 6 January 1981

  Open at official source

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