Amends the Internal Revenue Code to reinstate the partial exclusion from gross income of dividend and interest income received by an individual taxpayer. Limits the amount of such exclusion to $200 ($400 for joint returns) for a taxable year.
Repeals provisions of the Economic Recovery Tax Act of 1981 which provided an increased exclusion of interest income in 1985 and disallowed an exclusion for dividends received from real estate investment trusts.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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