A bill to amend the Internal Revenue Code of 1954 to provide an additional income tax exemption where a taxpayer, his spouse, or any dependent of the taxpayer is handicapped.

Amends the Internal Revenue Code to provide an additional $750 personal tax exemption for a taxpayer, his spouse, or a dependent who is handicapped. Defines "handicapped" as a physical or mental impairment of a permanent nature which constitutes a substantial handicap to employment or education.