HR 3050 · 99th Congress · Taxation

American Passbook Savings Act of 1985

Introduced 1985-07-18· Sponsored by Rep. Tauzin, W. J. (Billy) [D-LA-3]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1985-07-18)

Plain Language Summary

[AI summary unavailable — showing source text] American Passbook Savings Act of 1985 - Amends the Internal Revenue Code to exclude from gross income up to $5,000 ($10,000 in the case of a joint return) of interest earned on a savings account maintained in a bank, savings and loan, or similar institution.…

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

Cosponsors (20)

13 Democrats7 Republicans
Rep. Wright, James C., Jr. [D-TX-12]TX
Rep. Lott, Trent [R-MS-5]MS
Rep. Ackerman, Gary L. [D-NY-7]NY
Rep. Bates, Jim [D-CA-44]CA
Rep. Biaggi, Mario [D-NY-19]NY
Rep. Breaux, John B. [D-LA-7]LA
Rep. Byron, Beverly B. [D-MD-6]MD
Rep. Campbell, Carroll A., Jr. [R-SC-4]SC
Rep. Crockett, George W., Jr. [D-MI-13]MI
Rep. Dannemeyer, William E. [R-CA-39]CA
Rep. DeWine, Mike [R-OH-7]OH
Rep. Dowdy, Wayne [D-MS-4]MS
Rep. Eckart, Dennis E. [D-OH-11]OH
Rep. Hall, Ralph M. [D-TX-4]TX
Rep. Hubbard, Carroll, Jr. [D-KY-1]KY
Rep. Huckaby, Thomas J. (Jerry) [D-LA-5]LA
Rep. Kindness, Thomas N. [R-OH-8]OH
Rep. Lagomarsino, Robert J. [R-CA-19]CA
Rep. Lloyd, Marilyn [D-TN-3]TN
Rep. McKernan, John R., Jr. [R-ME-1]ME