A bill to amend the Internal Revenue Code of 1954 and certain other provisions of law to provide for automatic cost-of-living adjustments in the income tax rates and the amount of the standard, personal exemption, and depreciation deductions.
Automatic Cost- of-living Adjustment Act - Provides, under the Internal Revenue Code, for automatic cost-of-living adjustments, based on the Consumer Price Index, in: (1) the income tax rates; (2) the amount of standard deductions; (3) the amount of personal exemptions; (4) the amount of depreciation deductions; and (5) the adjusted basis for property.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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