HR 16121 · 93th Congress · Interest

A bill to amend the Internal Revenue Code of 1954 to allow a credit against the tax imposed on interest on savings.

Introduced 1974-07-25· Sponsored by Rep. McKinney, Stewart B. [R-CT-4]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-07-25)

Plain Language Summary

[AI summary unavailable — showing source text] Allows an income tax credit under the Internal Revenue Code of an amount equal to the interest on savings received during the taxable year. Limits such tax credit to $250.…

Summarized by Claude AI · Non-partisan · For informational purposes only