A bill to amend the Internal Revenue Code of 1954 to provide that the first $5,000 of compensation paid to law enforcement officers and firemen shall not be subject to the income tax.

Excludes the first $5,000 of compensation paid to law enforcement officers and to firemen from their gross income for purposes of determining gross income under the Internao Revenue Code of 1954. (Amends 26 U.S.C. 124)