HR 7028 · 94th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income $500 of interest on savings in the case of an individual taxpayer.

Introduced 1975-05-15· Sponsored by Rep. Forsythe, Edwin B. [R-NJ-6]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1975-05-15)

Plain Language Summary

[AI summary unavailable — showing source text] Excludes from gross income under the Internal Revenue Code the first $500 of interest on savings in the case of an individual taxpayer in a bank, savings and loan association, credit union, or similar thrift institution.…

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