A bill to amend the Internal Revenue Code of 1954 to reduce the tax effect known as the marriage penalty by permitting the deduction, without regard to whether deductions are itemized, of 10 percent of the earned income of the spouse whose earned income is lower than that of the other spouse.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code, with respect to a married individual who files a joint return with his spouse, to allow a deduction, without regard to whether deductions are itemized, in an amount equal to 20 percent of: (1) the earned income of the spouse with the lesser earned income; or (2) if the earned income of each spouse is the same, the earned income of one of them. Limits such deduction to a maximum $4,000.…