A bill to amend the Internal Revenue Code of 1986 to exclude from a taxpayer's modified adjusted gross income the amount of interest received or accrued by the taxpayer in determining whether the taxpayer's Social Security benefits or railroad retirement benefits are to be included in gross income subject to income tax.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from a taxpayer's modified adjusted gross income the amount of tax-exempt interest received or accrued by the taxpayer in determining whether the taxpayer's social security benefits or railroad retirement benefits are to be included in gross income subject to income tax.…