S 1420 · 97th Congress · Taxation

Interest Deduction Equity Act of 1981

Introduced 1981-06-24· Sponsored by Sen. D'Amato, Alfonse [R-NY]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB; Treasury Department.(1981-06-26)

Plain Language Summary

[AI summary unavailable — showing source text] Interest Deduction Equity Act of 1981 - Amends the Internal Revenue Code to increase to $25,000 the limitation on the income tax deduction for interest paid or accrued on investment indebtedness for individuals with earned income.…

Summarized by Claude AI · Non-partisan · For informational purposes only