A bill to amend the Internal Revenue Code of 1954 to allow the taxpayer the choice of a tax credit or a deduction for each household which includes a dependent person who is at least sixty-five years old.

Amends the Internal Revenue Code to allow a taxpayer to elect either an income tax credit of $250 or an income tax deduction of $1,000 for maintaining a household which includes as a member a dependent age 65 or over.