A bill to amend the Internal Revenue Code of 1954 to provide that no individual shall pay an income tax of less than 10 percent of his net income which exceeds $30,000 for any taxable year.

Provides that no individual shall pay an income tax of less than 10 percent of his net income which exceeds $30,000 for any taxable year. Defines net income as adjusted gross income computed without excluding interest on governmental bonds.