A bill to amend the Internal Revenue Code of 1954 to permit individuals to deduct separately-stated State and local utility taxes on amounts paid for heating and cooling their homes, whether or not they itemize deductions.

Amends the Internal Revenue Code to permit taxpayers, whether or not they itemize their deductions, to claim an income tax deduction for separately-stated State or local taxes imposed on the use of electrical energy, gas, or steam for heating and cooling the taxpayer's principal residence.