PERSONAL EXEMPTIONS.

SEC. 801. PERSONAL EXEMPTIONS. (a) Increase to $625 for 1970.—Effective with respect to taxable years beginning after December 31, 1969, and before January 1, 1971— (1) section 151 (relating to allowance of personal exemptions) is amended by striking out “$600” wherever it appears therein and inserting in lieu thereof “$625”; and (2) section 6013(b)(3)(A) (relating to assessment and collection in case of certain returns of husband and wife) is amended by striking out “$600” wherever it appears therein and inserting in lieu thereof “$625”, and by striking out “$1,200” wherever it appears therein and inserting in lieu thereof “$1,250”. (b) Increase to $650 for 1971.—Effective with respect to taxable years beginning after December 31, 1970, and before January 1, 1972— 83 Stat. 676 (1) section 151 (relating to allowance of personal exemptions) is amended by striking out “$625” wherever it appears therein and inserting in lien thereof “$650”; and (2) section 6013(b)(3)(A) (relating to assessment and collection in case of certain returns of husband and wife) is amended by striking out “$625” wherever it appears therein and inserting in lieu thereof “$650”, and by striking out “$1,250” wherever it appears therein and inserting in lieu thereof “$1,300”. (c) Increase to $700 for 1972.—Effective with respect to taxable years beginning after December 31, 1971, and before January 1, 1973— (1) section 151 (relating to allowance of personal exemptions) is amended by striking out “$650” wherever it appears therein and inserting in lieu thereof “$700”; and (2) section 6013(b)(3)(A) (relating to assessment and collection in case of certain returns of husband and wife) is amended by striking out “$650” wherever it appears therein and inserting in lieu thereof “$700”, and by striking out “$1,300” wherever it appears therein and inserting in lieu thereof “$1,400”. (d) Increase to $750 for 1973 and Subsequent Years.—Effective with respect to taxable years beginning after December 31, 1972— (1) section 151 (relating to allowance of personal exemptions) is amended by striking out “$700” wherever it appears therein and inserting in lieu thereof “$750”; and (2) section 6013(b)(3)(A) (relating to assessment and collection in case of certain returns of husband and wife) is amended by striking out “$700” wherever it appears therein and inserting in lieu thereof “$750”, and by striking out “$1,400”, wherever it appears therein and inserting in lieu thereof “$1,500”.