A bill to amend the Internal Revenue Code of 1954 to restore and make permanent the provision excluding from income interest and dividends of up to $200 for returns of single individuals and $400 for joint returns.

Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for the exclusion from gross income of a certain amount of interest and dividend income received by a taxpayer. Amends the Economic Recovery Tax Act of 1981 to restore the full dividend and interest exclusion.