A bill to amend the Internal Revenue Code to provide an additional personal exemption for each senior citizen whose principal place of abode is in the principal residence of the taxpayer.

Provides an additional personal exemption of $1,000 to the taxpayer under the Internal Revenue Code for each senior citizen whose principal place of abode is in the principal residence of the taxpayer, unless the taxpayer is allowed a deduction for trade or business expense for the housing of such senior citizen.