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United States · Bill · S

S. 2288 (96th)

A bill to amend the Internal Revenue Code of 1954 to make additional interest from savings eligible for exclusion.

referredUnited States· United States Congress· EN

Introduced

8 February 1980

Last action

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Status

Referred to Senate Committee on Finance.

Sponsors

—

Subjects

Discovery layer

Source updated

14 June 2021

Official sourceView documentsShare

Summary

Amends provisions of the Crude Oil Windfall Profit Tax Act of 1980 to: (1) increase from $200 ($400 in the case of a joint return) to $500 ($1000 in the case of a joint return) the maximum aggregate of dividends and interest that may be excluded from an individual's gross income; and (2) allow an additional exclusion of up to 25 percent of the interest and dividends received above $500 ($1000). Phases-in such additional percentage at five percent increments from 1981 through 1985.

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Documents

1 official file

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