A bill to amend chapter 1 of 26 U.S.C. to allow a deduction to tenants of houses or apartments for their proportionate share of the taxes and interest paid by their landlords.

Amends the Internal Revenue Code to allow an income tax deduction by individuals who rent their principal residence for their appropriate share of the real property taxes and interest on indebtedness (incurred for the construction, acquisition or improvement of their dwellings) paid by their landlord.