National Dividend Act

National Dividend Act - Amends the Internal Revenue Code to provide a general corporate income tax deduction for all dividends received, with a limited deduction available for dividends on certain preferred stocks. Provides individuals with a complete income tax exclusion for all dividends received. Limits any increases in the sum of the normal and surtax rates imposed on corporations to 30 percent. Imposes a moratorium for five fiscal years on increases in Federal spending which exceed the inflation rate.

Provides for the distribution of all corporate income tax revenue to registered voters through a National Dividend Payment Trust Fund and State financial officers and banks.