A bill to amend the Internal Revenue Code of 1954 to partially exclude interest from savings from the gross income of certain taxpayers.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income up to $1,000 ($1,500 for joint returns, $750 for married individuals filing separately) of interest income earned on a savings account. Reduces the amount of such exclusion by $1 for each dollar that the taxpayers adjusted gross income exceeds $10,000. ($15,000 for joint returns, $7,500 for married individuals filing separately).…