A bill to amend the Internal Revenue Code of 1954 to repeal the cost-of-living adjustment for the individual income tax rates and the personal exemption and to provide that no cost-of-living adjustment shall take effect on or after October 1, 1984, under certain entitlement programs.

Repeals the provisions of the Economic Recovery Tax Act of 1981 which allow a cost-of-living adjustment to the individual income tax rates and the personal tax exemption. Provides that no cost-of-living adjustment shall take effect after September 30, 1984, with respect to: (1) old age, survivors and disability benefits; (2) armed service retirement and retainer pay; (3) retired pay and retainer pay of members and former members of the Coast Guard; (4) retired pay of commissioned officers of the National Oceanic and Atmospheric Administration or the Public Health Service; (5) civil service retirement benefits; (6) foreign service retirement benefits; (7) Central Intelligence Agency retirement benefits; (8) Federal workers' compensation; and (9) benefits under the Railroad Retirement Act of 1974.