A bill to amend the Internal Revenue Code of 1954 to permit a deduction based upon the cost of living in certain states in determining adjusted gross income.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow nonitemizing taxpayers an income tax deduction for that portion of the taxpayer's personal service income which is equal to the amount by which cost of living increases in the State in which such taxpayer resides exceed national cost of living increases for the calendar year.…