PUBLIC LAW 9 4 - 1 6 4 — D E C. 23, 1975
89 STAT. 970
Public Law 94-164 94th Congress An Act Dec. 23, 1975 [H.R. 9968] Revenue Adjustment Act of 1975. 26 USC 1 note. 26 USC 1 note.
31 USC 1301 note.
'J'o change certain income tax provisions of the Internal Revenue Code of 1954, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the "Revenue Adjustment Act of 1975". SEC. lA. DECLARATION OF POLICY. (a) Congress is determined to continue the tax reduction for the first 6 months of 1976 in order to assure continued economic recovery. (b) Congress is also determined to continue to control spending levels in order to reduce the national deficit. (c) Congress reaffirms its commitments to the procedures established by the Congressional Budget and I m p o u n d m e n t Control Act of 1974 under which it has already established a binding spending ceiling for the fiscal year 1976. (d) I f the Congress adopts a continuation of the tax reduction provided by this Act beyond June 30, 1976, and if economic conditions w a r r a n t doing so, Congress shall provide, through the procedures in the Budget Act, for reductions in the level of spending in the fiscal year 1977 below what would otherwise occur, equal to any additional reduction in taxes (from the 1974 tax rate levels) provided for the fiscal year 1977: Provided, however, That nothing shall preclude the right of the Congress to pass a budget resolution containing a higher or lower expenditure figure if the Congress concludes that t h i s is warranted by economic conditions or unforeseen circumstances. SEC. 2. INDIVIDUAL INCOME TAX REDUCTIONS. (a) Low
26 USC 141.
INCOME ALLOWANCE.—
(1) INCREASE.—Subsection (c) of section 141 of the Internal Revenue Code of 1954 (relating to low income allowance) is amended to read as follows: " (c) Low INCOME ALLOWANCE.—
26 USC 6013.
" (1) IN GENERAL.—The low income allowance is— " (A) $2,100 in the case of— " {i) a joint r e t u r n under section 6013, or " ( i i) a surviving spouse (as defined in section 2(a)), " (B) $1,700 in the case of an individual who is not married and who is not a surviving spouse (as so defined), or " (C) $1,050 in the case of a married individual filing a separate return. " (2) APPLICATION o r 6-MONTH RULE.—Notwithstanding the pro-
visions of paragraph (1), the following amounts shall be substituted for the amount set forth in paragraph (1) — " (A) '$1,700' for '$2,100' in subparagraph (A), " (B) '$1,500' for '$1,700' in subparagraph (B), and " (C) '$850' for '$1,050' in subparagraph (C). ". (2)
26 USC 6012.
C H A N G E I N FILING REQUIREMENTS TO REFLECT INCREASE I N
LOW INCOME ALLOWANCE.—Paragraph (1)(A) of section 6012(a) of such Code (relating to persons required to make returns of income) is amended—
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