A bill to provide that State and local sales taxes paid by individuals shall be allowed as a credit against their liability for Federal income tax instead of being allowed as a deduction from their gross income.

Provides that State and local sales taxes paid by individuals shall be allowed as a credit against their liability for Federal income tax under the Internal Revenue Code of 1954 instead of being allowed as a deduction from their gross income. (Adds 26 U.S.C. 40)