S 3457 · 93th Congress · Taxation

Inflation Adjustment Act

Introduced 1974-05-08· Sponsored by Sen. Roth Jr., William V. [R-DE]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Finance.(1974-05-08)

Plain Language Summary

[AI summary unavailable — showing source text] Inflation Adjustment Act - Provides, under the Internal Revenue Code, for an inflation adjustment based on the percentage difference in the price index for an inflation year and the price index for the base period (October 1972-September 1973), in the rates of tax, the standard and personal exemption deductions, and the income tax collected at the source. Requires that the adjustment in effect for calendar year 1977 shall remain in effect.…

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