A bill to amend the Internal Revenue Code of 1954 to exclude $9,000 of income from the gross income of each individual who has attained age 65, and to reaffirm the fact that benefits payable under title II of the Social Security Act are exempt from federal taxation.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income up to $9,000 of income received by an individual age 65 or older during the taxable year. Permits such individual to designate which items of income shall be included in the amount that is excludable under this Act. Reaffirms the nontaxability of social security benefits.…