A bill to amend the Internal Revenue Code of 1954 to reduce the tax affect known as the marriage penalty by permitting the deduction, without regard to whether deductions are itemized, of 10 percent of the earned income of the spouse whose earned income is lower than that of the other spouse.

Summary

Amends the Internal Revenue Code to reduce the tax effect known as the marriage penalty by permitting the deduction, without regard to whether deductions are itemized, of ten percent of the earned income of the spouse whose earned income is lower than that of the other spouse. Limits such tax deduction to $2,000.

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1 official file

• Introduced in Senate

  summary · EN · 24 May 1979

  Open at official source

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