Skip to main content
S 2053 97th Congress Senate Taxation Certificates of deposit Finance and Financial Sector Income tax Interest Tax exclusion

A bill to amend the Internal Revenue Code of 1954 to increase and make permanent the exclusion from gross income of interest on All-Savers Certificates.

Introduced: February 2, 1982 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 5, 1982
Committee on Finance requested executive comment from OMB; Treasury Department.
Feb 2, 1982
Read twice and referred to the Committee on Finance.
Feb 2, 1982
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to increase to $2,000 ($4,000 for joint returns) the amount of the exclusion from gross income for interest received from All Savers Certificates. Repeals the termination date for such exclusion.

Revises the formula for determining the amount of the exclusion from gross income for interest received from specified sources which is to take effect in 1985.

What's happening now February 5, 1982

Committee on Finance requested executive comment from OMB; Treasury Department.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Mar 30, 1982
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2053: A bill to amend the Internal Revenue Code of 1954 to increase and make permanent the exclusion from gross income of interest on All-Savers Certificates.. 97th Congress. Open America. https://openamerica.io/bill/97-S-2053/
MLA
"S. 2053: A bill to amend the Internal Revenue Code of 1954 to increase and make permanent the exclusion from gross income of interest on All-Savers Certificates.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-S-2053/.
Bluebook (legal)
S. 2053, 97th Cong. (2026), https://openamerica.io/bill/97-S-2053/.
Markdown link
[S. 2053: A bill to amend the Internal Revenue Code of 1954 to increase and make permanent the exclusion from gross income of interest on All-Savers Certificates.](https://openamerica.io/bill/97-S-2053/)
Report a problem