A bill to amend the Internal Revenue Code of 1954 to increase the limitation of the interest deduction for interest paid or accrued on investment indebtedness from $10,000 to $25,000 for individuals with earned income.
Interest Deduction Equity Act of 1981 - Amends the Internal Revenue Code to increase to $25,000 the limitation on the income tax deduction for interest paid or accrued on investment indebtedness for individuals with earned income.
Became Public Law No: 97-34.
Committee on Finance requested executive comment from OMB; Treasury Department.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
See H.R.4242.
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