Cost-of-Living Adjustment Act

[AI summary unavailable — showing source text] Cost-of-living Adjustment Act - Provides, under the Internal Revenue Code, for automatic cost-of-living adjustments, based on the Consumer Price Index, in: (1) the income tax rates; (2) amount of standard deductions; and (3) the amount of personal exemptions; (4) the amount of depreciation in deductions; and (5) the adjusted basis for property. Makes cost-of-living adjustments in specified United States savings bonds and certificates and on other obligations of the United States.…