A bill to amend the Internal Revenue Code of 1954 to increase to $1,250 the personal income tax exemptions of a taxpayer (including the exemption for a spouse, the exemptions for dependents, and the additional exemptions for old age and blindness).

Increases to $1,250 (presently $750) the personal income tax exemptions of a taxpayer under the Internal Revenue Code (including the exemption for a spouse, the exemptions for dependents, and the additional exemptions for old age and blindness). (Amends 26 U.S.C. 151)