INCREASE IN PERSONAL EXEMPTION.

SEC. 201. INCREASE IN PERSONAL EXEMPTION. (a) Increase in Personal Exemption to $675 for 1971.—Effective with respect to taxable years beginning after December 31, 1970, and before January 1, 1972— (1) section 151 (relating to allowance of deductions for personal exemptions) is amended by striking out “$650” each place it appears and inserting in lieu thereof “$675”; 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” each place it appears and inserting in lieu thereof “$675”; and by striking out “$1,300” each place it appears and inserting in lieu thereof “$1,350”. (b) Increase in Personal Exemption to $750 for 1972 and Subsequent Years—Effective with respect to taxable years beginning after December 31, 1971— (1) section 151 (relating to allowance of deductions for personal exemptions) is amended by striking out “$675” each place it appears and inserting in lieu thereof “$750”; and (2) section 6013(b)(3)(A) (relating to assessment and collection in the case of certain returns of husband and wife) is amended by striking out “$675” each place it appears and inserting in lieu thereof “$750”; and by striking out “$1,350” each place it appears and inserting in lieu thereof “$1,500”. 85 Stat. 511 (c) Technical Amendment—Subsections (c) and (d) of section 801 of the Tax Reform Act of 1969 are hereby repealed.