Small Savers and Small Investors Income Tax Amendments of 1980

[AI summary unavailable — showing source text] Small Savers and Small Investors Income Tax Amendments of 1980 - Amends the Internal Revenue Code to increase the aggregate income tax exclusion for interest and dividend income from $200 to $400 ($800 for joint returns). Increases the amount of such exclusion for elderly taxpayers (age 65 or older) to $3,000. Makes such tax exclusion permanent. Permits taxpayers to elect a refundable income tax credit of $600 in lieu of the tax exclusion for interest and dividend income.…