Amends the Internal Revenue Code to permit an individual who holds government bonds an election to include interest earned from such bonds in his gross income. Allows such individual a nonrefundable (refundable, in the case of tax-exempt charitable and educational organizations and pension and profit-sharing trusts) income tax credit equal to 67 percent of the interest earned on such bonds for a taxable year.
Introduced in Senate
Referred to Senate Committee on Finance.
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