A bill to exclude from gross income the first $250 of interest received on deposits in thrift institutions.

[AI summary unavailable — showing source text] Excludes from gross income under the Internal Revenue Code of 1954 the first $250 of interest or dividends received by a taxpayer, or credited to the account of a taxpayer, on deposits or withdrawable accounts in a savings institution. (Amends 26 U.S.C. 123)…