A bill to amend the Internal Revenue Code of 1954 to provide for individuals who have attained age 65 a credit against income tax of 50 cents for each dollar of earned income, subject to certain limitations.

Amends the Internal Revenue Code to allow individuals age 65 or older an income tax credit for 50 percent of their earned income. Limits such credit to a maximum of $2,000 to $4,000 depending on the taxpayer's age.