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.
Introduced in Senate
Referred to Senate Committee on Finance.
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