A bill to amend the Internal Revenue Code of 1954 to increase the amount of retirement income eligible for the tax credit for retirement income from $1,524 to $5,000.

Increases the amount of retirement income eligible for the tax credit for retirement income allowed under the Internal Revenue Code of 1954 from $1,524 to $5,000.

Increases such amount from $2,286 to $7,500 in the case of a married couple filing jointly if each of them have reached the age of 65.