A bill to amend the Internal Revenue Code of 1954 to provide that the use of the zero bracket amount will not reduce the benefits of income averaging.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code, with regard to income averaging, to reduce the base period income of an individual by the zero bracket amount. Specifies a new formula for computing the tax on averageable income, taking such reduction of base period income into consideration.…