A bill to amend the Internal Revenue Code of 1954 to increase from $500 to $1,800 the personal income tax exemptions of a taxpayer (including the exemption for a spouse, the exemptions for a dependent, and the additional exemptions for old age and blindness).

Provides for an increase, under the Internal Revenue Code of 1954, from $600 to $1,200 in the personal income tax exemption of a taxpayer (including the exemption for a spouse, the exemptions for a dependent, and the additional exemptions for old age and blindness).