A bill to amend the Internal Revenue Code of 1954 to increase the interest and dividend exclusion and to provide a larger exclusion for individuals 65 and over.

Amends the Internal Revenue Code to increase to $1,000 ($2,000 in the case of a joint return) the amount of interest and dividend income which may be excluded from gross income. Increases such exclusion to $2,500 ($5,000 in the case of a joint return) for individuals who are age 65 or over.