Comprehensive Savings Incentive Act of 1981 - Amends the Internal Revenue Code to increase to $1,000 ($2,000 in the case of a joint return) the amount of interest and dividend income which may be excluded from gross income. Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for such exclusion.
Increases to $2,500 ($3,000 for married couples) the amount of retirement savings contribution allowable as a deduction. Increases from 60 to 70 percent the amount of the capital gain deduction.
Reduces the rate of the alternative minimum tax on individuals. Reduces the rate of the alternative tax on the capital gains of corporations from 28 to 21 percent.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
See H.R.4242.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line