To amend the Internal Revenue Code of 1986 to restore the deduction for two-earner married couples.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a tax deduction for ten percent of the lesser of: (1) $30,000; or (2) the qualified earned income of the spouse with the lower qualified earned income. Provides for a phase-out of such deduction for adjusted gross income that exceeds $75,000. Provides a formula for determining qualified earned income. Disallows such deduction if either spouse claims tax exclusions for: (1) citizens or residents of the United States living abroad; or (2) income from sources within Guam, American Samoa, or the Northern Mariana Islands. Allows such deduction in computing adjusted gross income. Provides for the treatment of such deduction under rules for social security and tier 1 railroad retirement benefits.…