A bill to amend the Internal Revenue Code of 1954 to provide an additional itemized deduction in the case of an individual who rents his principal residence (or who rents a site for a mobile home used as his principal residence).

Amends the Internal Revenue Code to allow an income tax deduction for 25 percent of the rent paid for the taxpayer's principal residence. Applies to rent paid for mobile home sites, for individuals whose principal residence is a mobile home.