I 

118TH CONGRESS 

1ST SESSION H. R. 1046 

To enhance Social Security benefits and ensure the long-term solvency of 

the Social Security program. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 14, 2023 

Ms. SCHAKOWSKY (for herself, Ms. HOYLE of Oregon, Mr. COHEN, Mr. 

PAYNE, Mr. LARSEN of Washington, Ms. MOORE of Wisconsin, Ms. 

BUSH, Mr. LYNCH, Ms. TLAIB, Ms. PINGREE, Mrs. NAPOLITANO, Ms. 

NORTON, Mr. RASKIN, Ms. ADAMS, Mr. BOWMAN, Mr. NADLER, Mr. 

POCAN, Mr. GRIJALVA, Ms. JAYAPAL, Ms. LEE of California, Ms. JACKSON LEE, Mr. GARCI ́A of Illinois, Ms. OCASIO-CORTEZ, Mr. CARTER of 

Louisiana, Mr. KHANNA, Mr. CASAR, and Mr. MCGOVERN) introduced 

the following bill; which was referred to the Committee on Ways and 

Means, and in addition to the Committees on Education and the Workforce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such 

provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To enhance Social Security benefits and ensure the longterm solvency of the Social Security program. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Social Security Expansion Act’’. 


kjohnson on DSK79L0C42PROD with BILLS
2 

•HR 1046 IH

1 (b) TABLE OF CONTENTS.—The table of contents of 

2 this Act is as follows: 

Sec. 1. Short title; table of contents. 

Sec. 2. Across-the-board benefit increase. 

Sec. 3. Computation of cost-of-living increases. 

Sec. 4. Increase in minimum benefit for lifetime low earners based on years in 

the workforce. 

Sec. 5. Extended benefit eligibility for children who are full-time students. 

Sec. 6. Payroll tax on remuneration up to contribution and benefit base and 

more than $250,000. 

Sec. 7. Tax on net earnings from self-employment up to contribution and benefit base and more than $250,000. 

Sec. 8. Tax on investment gain. 

Sec. 9. Social Security Trust Fund established. 

3 SEC. 2. ACROSS-THE-BOARD BENEFIT INCREASE. 

4 (a) INCREASE OF FIRST BEND POINT PERCENT5 AGE.—Section 215(a)(1)(A)(i) of the Social Security Act 

6 (42 U.S.C. 415(a)(1)(A)(i)) is amended by striking ‘‘90 

7 percent’’ and inserting ‘‘95 percent’’. 

8 (b) ADJUSTMENT TO BEND POINT AMOUNT.— 

9 (1) IN GENERAL.—Section 215(a)(1)(B) of the 

10 Social Security Act (42 U.S.C. 415(a)(1)(B)) is 

11 amended— 

12 (A) by redesignating clause (iii) as clause 

13 (iv); and 

14 (B) by inserting after clause (ii) the fol15 lowing new clause: 

16 ‘‘(iii) For an individual who is eligible for an 

17 old-age or disability insurance benefit (or who dies 

18 before becoming eligible for such a benefit) in any 

19 calendar year after 2023, the amount determined for 

20 the individual under clause (ii) of this subparagraph 


kjohnson on DSK79L0C42PROD with BILLS
3 

•HR 1046 IH

1 for purposes of subparagraph (A)(i)(I) shall be in2 creased by 22 percent.’’. 

3 (2) CONFORMING AMENDMENT.—Clause (iv) of 

4 section 215(a)(1)(B) of the Social Security Act (42 

5 U.S.C. 415(a)(1)(B)), as redesignated by paragraph 

6 (1), is amended by inserting ‘‘(after the application 

7 of clause (iii), when applicable)’’ after ‘‘clause (ii)’’. 

8 (c) EFFECTIVE DATE.— 

9 (1) IN GENERAL.—The amendments made by 

10 this section shall take effect on January 1, 2024, 

11 and shall apply with respect to monthly insurance 

12 benefits payable under title II of the Social Security 

13 Act (42 U.S.C. 401 et seq.) for months in calendar 

14 years beginning on or after such date. 

15 (2) RECOMPUTATION OF PRIMARY INSURANCE

16 AMOUNTS.— 

17 (A) IN GENERAL.—Notwithstanding sec18 tion 215(f) of the Social Security Act (42 

19 U.S.C. 415(f)), the Commissioner of Social Se20 curity shall recompute primary insurance 

21 amounts to the extent necessary to carry out 

22 the amendments to this section. 

23 (B) RULE OF APPLICATION.—In recom24 puting the primary insurance amount of an in25 dividual who initially became eligible for old-age 


kjohnson on DSK79L0C42PROD with BILLS
4 

•HR 1046 IH

1 or disability insurance benefits before January 

2 1, 2024, the Commissioner of Social Security 

3 shall apply the increase described in clause (iii) 

4 of section 215(a)(1)(B) of the Social Security 

5 Act (as added by subsection (b)(1)(B)) to the 

6 amount determined under clause (ii) of such 

7 section 215(a)(1)(B) for the calendar year in 

8 which the individual initially became eligible for 

9 such benefits. 

10 SEC. 3. COMPUTATION OF COST-OF-LIVING INCREASES. 

11 (a) IN GENERAL.—Section 215(i)(1) of the Social Se12 curity Act (42 U.S.C. 415(i)(1)) is amended by adding 

13 at the end the following new subparagraph: 

14 ‘‘(H) the term ‘Consumer Price Index’ means 

15 the Consumer Price Index for Elderly Consumers 

16 (CPI–E, as published by the Bureau of Labor Sta17 tistics of the Department of Labor).’’. 

18 (b) APPLICATION TO PRE-1979 LAW.— 

19 (1) IN GENERAL.—Section 215(i)(1) of the So20 cial Security Act as in effect in December 1978, and 

21 as applied in certain cases under the provisions of 

22 such Act as in effect after December 1978, is 

23 amended by adding at the end the following new 

24 subparagraph: 


kjohnson on DSK79L0C42PROD with BILLS
5 

•HR 1046 IH

1 ‘‘(D) the term ‘Consumer Price Index’ means 

2 the Consumer Price Index for Elderly Consumers 

3 (CPI–E, as published by the Bureau of Labor Sta4 tistics of the Department of Labor).’’. 

5 (2) CONFORMING CHANGE.—Section 215(i)(4) 

6 of the Social Security Act (42 U.S.C. 415(i)(4)) is 

7 amended— 

8 (A) by striking ‘‘and by section 9001’’ and 

9 inserting ‘‘, section 9001’’; and 

10 (B) by inserting ‘‘and section 3 of the So11 cial Security Expansion Act,’’ after ‘‘1986,’’. 

12 (c) NO EFFECT ON ADJUSTMENTS UNDER OTHER

13 LAWS.—Section 215(i) of the Social Security Act (42 

14 U.S.C. 415(i)) is amended by adding at the end the fol15 lowing: 

16 ‘‘(6) Any provision of law (other than in this title, 

17 title VIII, or title XVI) which provides for adjustment of 

18 an amount based on a change in benefit amounts resulting 

19 from a determination made under this subsection shall be 

20 applied and administered without regard to the amend21 ments made by section 3 of the Social Security Expansion 

22 Act, and, for purposes of making such an adjustment 

23 under such a provision, this subsection as in effect on the 

24 day before the date of enactment of such Act shall con25 tinue to apply.’’. 


kjohnson on DSK79L0C42PROD with BILLS
6 

•HR 1046 IH

1 (d) PUBLICATION OF CONSUMER PRICE INDEX FOR

2 ELDERLY CONSUMERS.—The Bureau of Labor Statistics 

3 of the Department of Labor shall prepare and publish the 

4 index authorized by section 191 of the Older Americans 

5 Amendments Act of 1987 (29 U.S.C. 2 note) for each cal6 endar month, beginning with July of the calendar year fol7 lowing the calendar year in which this Act is enacted, and 

8 such index shall be known as the ‘‘Consumer Price Index 

9 for Elderly Consumers’’. 

10 (e) EFFECTIVE DATE.—The amendments made by 

11 subsection (a) shall apply to determinations made with re12 spect to cost-of-living computation quarters (as defined in 

13 section 215(i)(1)(B) of the Social Security Act (42 U.S.C. 

14 415(i)(1)(B))) ending on or after September 30 of the sec15 ond calendar year following the calendar year in which this 

16 Act is enacted. 

17 SEC. 4. INCREASE IN MINIMUM BENEFIT FOR LIFETIME 

18 LOW EARNERS BASED ON YEARS IN THE 

19 WORKFORCE. 

20 (a) IN GENERAL.—Section 215(a)(1) of the Social 

21 Security Act (42 U.S.C. 415(a)(1)) is amended— 

22 (1) by redesignating subparagraph (D) as sub23 paragraph (E); and 

24 (2) by inserting after subparagraph (C) the fol25 lowing new subparagraph: 


kjohnson on DSK79L0C42PROD with BILLS
7 

•HR 1046 IH

1 ‘‘(D)(i) Effective with respect to the benefits of indi2 viduals who become eligible for old-age insurance benefits 

3 or disability insurance benefits (or die before becoming so 

4 eligible) after 2023, no primary insurance amount com5 puted under subparagraph (A) may be less than the great6 er of— 

7 ‘‘(I) the minimum monthly amount computed 

8 under subparagraph (C); or 

9 ‘‘(II) in the case of an individual who has more 

10 than 10 years of work (as defined in clause (iv)(I)), 

11 the alternative minimum amount determined under 

12 clause (ii). 

13 ‘‘(ii)(I) The alternative minimum amount determined 

under this clause is the applicable percentage of 1 14 ⁄12 of 

15 the annual dollar amount determined under clause (iii) for 

16 the year in which the amount is determined. 

17 ‘‘(II) For purposes of subclause (I), the applicable 

18 percentage is the percentage specified in connection with 

19 the number of years of work, as set forth in the following 

20 table: 

‘‘If the number of years The applicable 

of work is: percentage is: 

11 ...................................................................................... 6.25 percent

12 ...................................................................................... 12.50 percent

13 ...................................................................................... 18.75 percent

14 ...................................................................................... 25.00 percent

15 ...................................................................................... 31.25 percent

16 ...................................................................................... 37.50 percent

17 ...................................................................................... 43.75 percent

18 ...................................................................................... 50.00 percent

19 ...................................................................................... 56.25 percent


kjohnson on DSK79L0C42PROD with BILLS
8 

•HR 1046 IH

‘‘If the number of years The applicable 

of work is: percentage is: 

20 ...................................................................................... 62.50 percent

21 ...................................................................................... 68.75 percent

22 ...................................................................................... 75.00 percent

23 ...................................................................................... 81.25 percent

24 ...................................................................................... 87.50 percent

25 ...................................................................................... 93.75 percent

26 ...................................................................................... 100.00 percent

27 ...................................................................................... 106.25 percent

28 ...................................................................................... 112.50 percent

29 ...................................................................................... 118.75 percent

30 or more ........................................................................ 125.00 percent. 

1 ‘‘(iii) The annual dollar amount determined under 

2 this clause is— 

3 ‘‘(I) for calendar year 2024, the poverty guide4 line for 2023; and 

5 ‘‘(II) for any calendar year after 2024, the an6 nual dollar amount for 2023 multiplied by the ratio 

7 of— 

8 ‘‘(aa) the national average wage index (as 

9 defined in section 209(k)(1)) for the second cal10 endar year preceding the calendar year for 

11 which the determination is made, to 

12 ‘‘(bb) the national average wage index (as 

13 so defined) for 2022. 

14 ‘‘(iv) For purposes of this subparagraph— 

15 ‘‘(I) the term ‘year of work’ means, with re16 spect to an individual, a year to which 4 quarters of 

17 coverage have been credited based on such individ18 ual’s wages and self-employment income; and 


kjohnson on DSK79L0C42PROD with BILLS
9 

•HR 1046 IH

1 ‘‘(II) the term ‘poverty guideline for 2023’ 

2 means the annual poverty guideline for 2023 (as up3 dated annually in the Federal Register by the De4 partment of Health and Human Services under the 

5 authority of section 673(2) of the Omnibus Budget 

6 Reconciliation Act of 1981) as applicable to a single 

7 individual.’’. 

8 (b) RECOMPUTATION.—Notwithstanding section 

9 215(f)(1) of the Social Security Act, the Commissioner of 

10 Social Security shall recompute primary insurance 

11 amounts originally computed for months prior to Novem12 ber 2018, to the extent necessary to carry out the amend13 ments made by this section. 

14 (c) CONFORMING AMENDMENT.—Section 209(k)(1) 

15 of such Act (42 U.S.C. 409(k)(1)) is amended by inserting 

16 ‘‘215(a)(1)(E),’’ after ‘‘215(a)(1)(D),’’. 

17 SEC. 5. EXTENDED BENEFIT ELIGIBILITY FOR CHILDREN 

18 WHO ARE FULL-TIME STUDENTS. 

19 (a) IN GENERAL.— 

20 (1) IN GENERAL.—Section 202(d) of the Social 

21 Security Act (42 U.S.C. 402(d)) is amended— 

22 (A) in paragraph (1)— 

23 (i) in subparagraph (B)— 

24 (I) by striking ‘‘or (ii)’’ and in25 serting ‘‘(ii)’’; and 


kjohnson on DSK79L0C42PROD with BILLS
10 

•HR 1046 IH

1 (II) by inserting ‘‘or (iii) was the 

2 child of an individual entitled to dis3 ability insurance benefits or of an in4 dividual who dies a fully or currently 

5 insured individual and was a full-time 

6 student at an educational institution 

7 and had not attained the age of 22,’’ 

8 after ‘‘22,’’; 

9 (ii) in subparagraph (E)— 

10 (I) by striking ‘‘and (ii)’’ and in11 serting ‘‘(ii)’’; and 

12 (II) by inserting ‘‘and (iii) is not 

13 a full-time student at an educational 

14 institution during any part of such 

15 month (in the case of a child who is 

16 the child of an individual entitled to 

17 disability insurance benefits or of an 

18 individual who dies a fully or cur19 rently insured individual)’’ before the 

20 comma at the end; 

21 (iii) in subparagraph (F), by striking 

22 clauses (i) and (ii) and inserting the fol23 lowing: 


kjohnson on DSK79L0C42PROD with BILLS
11 

•HR 1046 IH

1 ‘‘(i) in the case of a child who is the child 

2 of an individual entitled to old-age insurance 

3 benefits— 

4 ‘‘(I) the first month during no part of 

5 which the child is a full-time elementary or 

6 secondary school student, or 

7 ‘‘(II) the month in which the child at8 tains the age of 19, and 

9 ‘‘(ii) in the case of a child who is the child 

10 of an individual entitled to disability insurance 

11 benefits or of an individual who dies a fully or 

12 currently insured individual— 

13 ‘‘(I) the first month during no part of 

14 which the child is a full-time student at an 

15 educational institution, or 

16 ‘‘(II) the month in which the child at17 tains the age of 22,’’; and 

18 (iv) in subparagraph (G), by striking 

19 clauses (ii) and (iii) and inserting the fol20 lowing: 

21 ‘‘(ii) in the case of a child who is the child 

22 of an individual entitled to old-age insurance 

23 benefits— 


kjohnson on DSK79L0C42PROD with BILLS
12 

•HR 1046 IH

1 ‘‘(I) the first month during no part of 

2 which the child is a full-time elementary or 

3 secondary school student, or 

4 ‘‘(II) the month in which the child at5 tains the age of 19, and 

6 ‘‘(iii) in the case of a child who is the child 

7 of an individual entitled to disability insurance 

8 benefits or of an individual who dies a fully or 

9 currently insured individual— 

10 ‘‘(I) the first month during no part of 

11 which the child is a full-time student at an 

12 educational institution, or 

13 ‘‘(II) the month in which the child at14 tains the age of 22,’’; 

15 (B) in paragraph (6)— 

16 (i) in subparagraph (A)— 

17 (I) by striking ‘‘or (ii)’’ and in18 serting ‘‘(ii)’’; and 

19 (II) by inserting ‘‘or (iii) is the 

20 child of an individual entitled to dis21 ability insurance benefits or of an in22 dividual who dies a fully or currently 

23 insured individual and is a full-time 

24 student at an educational institution 


kjohnson on DSK79L0C42PROD with BILLS
13 

•HR 1046 IH

1 and has not attained the age of 22,’’ 

2 after ‘‘22,’’; and 

3 (ii) by striking subparagraphs (D) 

4 and (E) and inserting the following: 

5 ‘‘(D) the earlier of— 

6 ‘‘(i) in the case of a child who is the child 

7 of an individual entitled to old-age insurance 

8 benefits— 

9 ‘‘(I) the first month during no part of 

10 which the child is a full-time elementary or 

11 secondary school student; or 

12 ‘‘(II) the month in which the child at13 tains the age of 19; and 

14 ‘‘(ii) in the case of a child who is the child 

15 of an individual entitled to disability insurance 

16 benefits or of an individual who dies a fully or 

17 currently insured individual— 

18 ‘‘(I) the first month during no part of 

19 which the child is a full-time student at an 

20 educational institution; or 

21 ‘‘(II) the month in which the child at22 tains the age of 22; 

23 but only if the child is not under a disability (as 

24 so defined) in such earlier month; or 


kjohnson on DSK79L0C42PROD with BILLS
14 

•HR 1046 IH

1 ‘‘(E) if the child was under a disability (as so 

2 defined), the termination month (as defined in para3 graph (1)(G)(i)), subject to section 223(e), or (if 

4 later) the earlier of— 

5 ‘‘(i) in the case of a child who is the child 

6 of an individual entitled to old-age insurance 

7 benefits— 

8 ‘‘(I) the first month during no part of 

9 which the child is a full-time elementary or 

10 secondary school student; or 

11 ‘‘(II) the month in which the child at12 tains the age of 19; and 

13 ‘‘(ii) in the case of a child who is the child 

14 of an individual entitled to disability insurance 

15 benefits or of an individual who dies a fully or 

16 currently insured individual— 

17 ‘‘(I) the first month during no part of 

18 which the child is a full-time student at an 

19 educational institution; or 

20 ‘‘(II) the month in which the child at21 tains the age of 22.’’; and 

22 (C) in paragraph (7), by adding at the end 

23 the following new paragraphs: 

24 ‘‘(E) The term ‘full-time student at an edu25 cational institution’ means an individual who is in 


kjohnson on DSK79L0C42PROD with BILLS
15 

•HR 1046 IH

1 full-time attendance as a student at an elementary 

2 school (but only in the case of an individual who has 

3 not attained the age of 19) or a secondary school or 

4 an institution described in section 102 of the Higher 

5 Education Act of 1965 (20 U.S.C. 1002), as deter6 mined by the Commissioner of Social Security (in 

7 accordance with regulations prescribed by the Com8 missioner) in the light of the standards and prac9 tices of the schools and institutions involved, except 

10 that no individual shall be considered a ‘full-time 

11 student at an educational institution’ if the indi12 vidual is paid by his employer while attending a 

13 school or institution at the request, or pursuant to 

14 a requirement, of his employer. An individual shall 

15 not be considered a ‘full-time student at an edu16 cational institution’ for the purpose of this section 

17 while that individual is confined in a jail, prison, or 

18 other penal institution or correctional facility, pursu19 ant to the individual’s conviction of an offense (com20 mitted after the effective date of this sentence) 

21 which constituted a felony under applicable law. An 

22 individual who is determined to be a full-time stu23 dent at an educational institution shall be deemed to 

24 be such a student throughout the month with re25 spect to which such determination is made. 


kjohnson on DSK79L0C42PROD with BILLS
16 

•HR 1046 IH

1 ‘‘(F) Except to the extent provided in such reg2 ulations, an individual shall be deemed to be a full3 time student at a school or educational institution 

4 during any period of nonattendance at a school or 

5 institution at which he has been in full-time attend6 ance if (i) such period is 4 calendar months or less, 

7 and (ii) the individual shows to the satisfaction of 

8 the Commissioner of Social Security that the indi9 vidual intends to continue to be in full-time attend10 ance at a secondary school or institution described 

11 in section 102 of the Higher Education Act of 1965 

12 (20 U.S.C. 1002) immediately following such period. 

13 An individual who does not meet the requirement of 

14 clause (ii) with respect to such period of nonattend15 ance shall be deemed to have met such requirement 

16 (as of the beginning of such period) if he is in full17 time attendance at such a school or institution im18 mediately following such period. 

19 ‘‘(G) A child who attains age 22 at a time when 

20 the child is a full-time student of an educational in21 stitution (as defined in subparagraph (E) and with22 out application of subparagraph (F)) but has not (at 

23 such time) completed the requirements for, or re24 ceived, a diploma or equivalent certificate from a 

25 secondary school (as defined in subparagraph (C)(i)) 


kjohnson on DSK79L0C42PROD with BILLS
17 

•HR 1046 IH

1 or, if such child is a student at an educational insti2 tution described in section 102 of the Higher Edu3 cation Act of 1965, a diploma, degree, or equivalent 

4 degree from such an institution, shall be deemed (for 

5 purposes of determining whether the child’s entitle6 ment to benefits under this subsection has termi7 nated under paragraph (1)(F) and for purposes of 

8 determining his initial entitlement to such benefits 

9 under clause (iii) of paragraph (1)(B)) not to have 

10 attained such age until the first day of the first 

11 month following the end of the quarter or semester 

12 in which he is enrolled at such time (or, if the sec13 ondary school or educational institution in which he 

14 is enrolled is not operated on a quarter or semester 

15 system, until the first day of the first month fol16 lowing the completion of the course in which the 

17 child is so enrolled or until the first day of the third 

18 month beginning after such time, whichever first oc19 curs).’’. 

20 (2) EFFECTIVE DATE.—The amendments made 

21 by this subsection shall apply to child’s insurance 

22 benefits that are payable for months beginning on or 

23 after January 1, 2024. 

24 (b) RAILROAD RETIREMENT ACT.— 


kjohnson on DSK79L0C42PROD with BILLS
18 

•HR 1046 IH

1 (1) Section 2(d) of the Railroad Retirement Act 

2 of 1974 (45 U.S.C. 232(2)(d)) is amended— 

3 (A) in clause (iii) of paragraph (1), by 

4 striking ‘‘will be less than nineteen years of age 

5 and a full-time elementary or secondary school 

6 student’’ and inserting ‘‘will be less than 22 

7 years of age and a full-time student at an edu8 cational institution (as defined in section 

9 202(d)(7)(E) of the Social Security Act)’’; and 

10 (B) in paragraph (4)— 

11 (i) by striking ‘‘(defining the terms 

12 ‘full-time elementary or secondary school 

13 student’ and ‘elementary or secondary 

14 school’)’’; 

15 (ii) by striking ‘‘nineteen’’ and insert16 ing ‘‘22’’; 

17 (iii) by striking ‘‘full-time elementary 

18 or secondary school student’’ and inserting 

19 ‘‘full-time student at an educational insti20 tution’’; 

21 (iv) by striking ‘‘subparagraph (A) of 

22 paragraph (7) of section 202(d) of the So23 cial Security Act and without the applica24 tion of subparagraph (B)’’ and inserting 

25 ‘‘subparagraph (E) of section 202(d)(7) of 


kjohnson on DSK79L0C42PROD with BILLS
19 

•HR 1046 IH

1 the Social Security Act, without regard to 

2 subparagraph (F) of such section’’; 

3 (v) by striking ‘‘a diploma or equiva4 lent certificate from a secondary school (as 

5 defined in section 202(d)(7)(c)(i) of the 

6 Social Security Act)’’ and inserting ‘‘a di7 ploma, degree, or equivalent certificate 

8 from a secondary school or educational in9 stitution described in section 202(d)(7)(E) 

10 of the Social Security Act’’; and 

11 (vi) by striking ‘‘elementary or sec12 ondary school in which he is enrolled’’ and 

13 inserting ‘‘school or institution in which 

14 the child is enrolled’’. 

15 (2) Section 5(c)(7) of the Railroad Retirement 

16 Act of 1974 (45 U.S.C. 235(c)(7)) is amended— 

17 (A) by striking ‘‘full-time elementary or 

18 secondary school student’’ and inserting ‘‘full19 time student at an educational institution’’; and 

20 (B) by striking ‘‘19’’ and inserting ‘‘22’’. 

21 (3) The amendments made by this subsection 

22 shall apply to benefits under the Railroad Retire23 ment Act of 1974 that are payable for months be24 ginning on or after January 1, 2024. 


kjohnson on DSK79L0C42PROD with BILLS
20 

•HR 1046 IH

1 SEC. 6. PAYROLL TAX ON REMUNERATION UP TO CON2 TRIBUTION AND BENEFIT BASE AND MORE 

3 THAN $250,000. 

4 (a) IN GENERAL.—Paragraph (1) of section 3121(a) 

5 of the Internal Revenue Code of 1986 is amended to read 

6 as follows: 

7 ‘‘(1) in the case of taxes imposed by sections 

8 3101(a) and 3111(a), for any calendar year in which 

9 the contribution and benefit base (as determined 

10 under section 230 of the Social Security Act) is less 

11 than $250,000, so much of the remuneration (other 

12 than remuneration referred to in the succeeding 

13 paragraphs of this subsection) with respect to em14 ployment that has been paid to an individual by an 

15 employer during the calendar year as exceeds such 

16 contribution and benefit base but does not exceed 

17 $250,000;’’. 

18 (b) CONFORMING AMENDMENTS.— 

19 (1) SUCCESSOR EMPLOYERS.—Paragraph (1) of 

20 section 3121(a) of the Internal Revenue Code of 

21 1986 is amended by adding at the end the following 

22 new subsection: 

23 ‘‘(aa) SPECIAL RULES FOR SUCCESSOR EMPLOY24 ERS.—For purposes of subsection (a)(1), if an employer 

25 (hereinafter referred to as successor employer) during any 

26 calendar year acquires substantially all the property used 


kjohnson on DSK79L0C42PROD with BILLS
21 

•HR 1046 IH

1 in a trade or business of another employer (hereinafter 

2 referred to as a predecessor), or used in a separate unit 

3 of a trade or business of a predecessor, and immediately 

4 after the acquisition employs in his trade or business an 

5 individual who immediately prior to the acquisition was 

6 employed in the trade or business of such predecessor, 

7 then, for the purpose of determining the amount of remu8 neration paid by the successor employer under such sub9 section, any remuneration (other than remuneration re10 ferred to in the paragraphs succeeding paragraph (1) of 

11 subsection (a)) with respect to employment paid (or con12 sidered under this subsection as having been paid) to such 

13 individual by such predecessor during such calendar year 

14 and prior to such acquisition shall be considered as having 

15 been paid by such successor employer.’’. 

16 (2) APPLICATION TO RAILROAD RETIREMENT

17 TAXES.—Clause (i) of section 3231(e)(2)(A) of such 

18 Code is amended to read as follows: 

19 ‘‘(i) IN GENERAL.—For any calendar 

20 year in which the applicable base is less 

21 than $250,000, the term ‘compensation’ 

22 does not include so much of the remunera23 tion paid during any calendar year to an 

24 individual by an employer for services ren25 dered as an employee to such employer as 


kjohnson on DSK79L0C42PROD with BILLS
22 

•HR 1046 IH

1 exceeds the applicable base but does not 

2 exceed $250,000.’’. 

3 (c) EFFECTIVE DATE.—The amendments made by 

4 this section shall apply to remuneration paid on or after 

5 January 1 of the first calendar year that begins after the 

6 date of enactment of this Act. 

7 SEC. 7. TAX ON NET EARNINGS FROM SELF-EMPLOYMENT 

8 UP TO CONTRIBUTION AND BENEFIT BASE 

9 AND MORE THAN $250,000. 

10 (a) IN GENERAL.—Paragraph (1) of section 1402(b) 

11 of the Internal Revenue Code of 1986 is amended to read 

12 as follows: 

13 ‘‘(1) in the case of the tax imposed by section 

14 1401(a) for any taxable year beginning in a calendar 

15 year in which the contribution and benefit base (as 

16 determined under section 230 of the Social Security 

17 Act) is less than $250,000, the excess (if any) of— 

18 ‘‘(A) so much of the net earnings from 

19 self-employment which is in excess of— 

20 ‘‘(i) an amount equal to the contribu21 tion and benefit base (as determined under 

22 section 230 of the Social Security Act) 

23 which is effective for the calendar year in 

24 which such taxable year begins, minus 


kjohnson on DSK79L0C42PROD with BILLS
23 

•HR 1046 IH

1 ‘‘(ii) the amount of the wages paid to 

2 such individual during such taxable years, 

3 over 

4 ‘‘(B) the sum of— 

5 ‘‘(i) the excess (if any) of— 

6 ‘‘(I) the net earning from self7 employment reduced by the excess (if 

8 any) of subparagraph (A)(i) over sub9 paragraph (A)(ii), over 

10 ‘‘(II) $250,000, reduced by such 

11 contribution and benefit base, plus 

12 ‘‘(ii) the amount of the wages paid to 

13 such individual during such taxable year in 

14 excess of such contribution and benefit 

15 base and not in excess of $250,000; or’’. 

16 (b) PHASEOUT.—Subsection (b) of section 1402 of 

17 the Internal Revenue Code of 1986 is amended by adding 

18 at the end the following: ‘‘Paragraph (1) shall apply only 

19 to taxable years beginning in calendar years for which the 

20 contribution and benefit base (as determined under section 

21 230 of the Social Security Act) is less than $250,000.’’. 

22 (c) EFFECTIVE DATE.—The amendments made by 

23 this section shall apply to net earnings from self-employ24 ment derived, and remuneration paid, on or after January 


kjohnson on DSK79L0C42PROD with BILLS
24 

•HR 1046 IH

1 1 of the first calendar year that begins after the date of 

2 enactment of this Act. 

3 SEC. 8. TAX ON INVESTMENT GAIN. 

4 (a) INCREASE IN TAX.— 

5 (1) IN GENERAL.—Subsection (a) of section 

6 1411 of the Internal Revenue Code of 1986 is 

7 amended by striking ‘‘3.8 percent’’ each place it ap8 pears and inserting ‘‘16.2 percent’’. 

9 (2) CONFORMING AMENDMENT.—The heading 

10 for chapter 2A of the Internal Revenue Code of 

11 1986 is amended by striking ‘‘UNEARNED IN12 COME MEDICARE CONTRIBUTION’’ and 

13 inserting ‘‘ADDITIONAL TAX ON UN14 EARNED INCOME IN LIEU OF SOCIAL 

15 SECURITY AND MEDICARE TAXES’’. 

16 (b) INCLUSION OF ACTIVE TRADE OR BUSINESS IN17 COME.— 

18 (1) IN GENERAL.—Section 1411(c)(1)(A) of the 

19 Internal Revenue Code of 1986 is amended— 

20 (A) in clause (i), by striking ‘‘, other than 

21 such income which is derived in the ordinary 

22 course of a trade or business not described in 

23 paragraph (2)’’, 

24 (B) in clause (ii), by striking ‘‘described in 

25 paragraph (2)’’ and inserting ‘‘(determined 


kjohnson on DSK79L0C42PROD with BILLS
25 

•HR 1046 IH

1 under rules similar to the rules of paragraphs 

2 (5) and (6) of section 469(c))’’, and 

3 (C) in clause (iii), by striking ‘‘other than 

4 property held in a trade or business not de5 scribed in paragraph (2)’’. 

6 (2) DENIAL OF DEDUCTION FOR NET OPER7 ATING LOSSES.—Section 1411(c)(1)(B) of such Code 

8 is amended by inserting ‘‘(other than the deduction 

9 for net operating losses provided in section 172)’’ 

10 after ‘‘net gain’’. 

11 (3) CONFORMING AMENDMENTS.— 

12 (A) Section 1411(c) of such Code is 

13 amended by striking paragraphs (2), (3), and 

14 (4) and by redesignating paragraphs (5) and 

15 (6) as paragraphs (2) and (3), respectively. 

16 (B) Section 1411(c)(3) of such Code, as 

17 redesignated by subparagraph (A), is amended 

18 to read as follows: 

19 ‘‘(3) SPECIAL RULE.—Net investment income 

20 shall not include— 

21 ‘‘(A) any item taken into account in deter22 mining self-employment income for such taxable 

23 year on which a tax is imposed by section 1401, 

24 or 


kjohnson on DSK79L0C42PROD with BILLS
26 

•HR 1046 IH

1 ‘‘(B) any item taken into account in deter2 mining wages received with respect to employ3 ment for such taxable year on which a tax is 

4 imposed by section 3101.’’. 

5 (c) EFFECTIVE DATE.—The amendments made by 

6 this section shall apply to taxable years beginning after 

7 the date of enactment of this Act. 

8 SEC. 9. SOCIAL SECURITY TRUST FUND ESTABLISHED. 

9 (a) IN GENERAL.—Section 201(a) of the Social Secu10 rity Act (42 U.S.C. 401(a)) is amended to read as follows: 

11 ‘‘(a) There is hereby created on the books of the 

12 Treasury of the United States a trust fund to be known 

13 as the ‘Social Security Trust Fund’. The Social Security 

14 Trust Fund shall consist of the securities held by the Sec15 retary of the Treasury for the Federal Old-Age and Sur16 vivors Insurance Trust Fund and the Federal Disability 

17 Insurance Trust Fund and the amount standing to the 

18 credit of the Federal Old-Age and Survivors Insurance 

19 Trust Fund and the Federal Disability Insurance Trust 

20 Fund on the books of the Treasury on January 1 of the 

21 first calendar year beginning after the date of the enact22 ment of section 9 of the Social Security Expansion Act, 

23 which securities and amount the Secretary of the Treasury 

24 is authorized and directed to transfer to the Social Secu25 rity Trust Fund, and, in addition, such gifts and bequests 


kjohnson on DSK79L0C42PROD with BILLS
27 

•HR 1046 IH

1 as may be made as provided in subsection (i)(1), and such 

2 amounts as may be appropriated to, or deposited in, the 

3 Social Security Trust Fund as hereinafter provided. There 

4 is hereby appropriated to the Social Security Trust Fund 

5 for the first fiscal year that begins after the date of the 

6 enactment of section 9 of the Social Security Expansion 

7 Act, and for each fiscal year thereafter, out of any moneys 

8 in the Treasury not otherwise appropriated, amounts 

9 equivalent to 100 percent of— 

10 ‘‘(1) the taxes imposed by chapter 21 (other 

11 than sections 3101(b) and 3111(b)) of the Internal 

12 Revenue Code of 1986 with respect to wages (as de13 fined in section 3121 of such Code) reported to the 

14 Secretary of the Treasury pursuant to subtitle F of 

15 the Internal Revenue Code of 1986, as determined 

16 by the Secretary of the Treasury by applying the ap17 plicable rates of tax under such chapter (other than 

18 sections 3101(b) and 3111(b)) to such wages, which 

19 wages shall be certified by the Commissioner of So20 cial Security on the basis of the records of wages es21 tablished and maintained by such Commissioner in 

22 accordance with such reports; 

23 ‘‘(2) the taxes imposed by chapter 2 (other than 

24 section 1401(b)) of the Internal Revenue Code of 

25 1986 with respect to self-employment income (as deVerDate Sep 11 2014 23:24 Mar 10, 2023 Jkt 039200 PO 00000 Frm 00027 Fmt 6652 Sfmt 6201 E:\BILLS\H1046.IH H1046

kjohnson on DSK79L0C42PROD with BILLS
28 

•HR 1046 IH

1 fined in section 1402 of such Code) reported to the 

2 Secretary of the Treasury on tax returns under sub3 title F of such Code, as determined by the Secretary 

4 of the Treasury by applying the applicable rate of 

5 tax under such chapter (other than section 1401(b)) 

6 to such self-employment income, which self-employ7 ment income shall be certified by the Commissioner 

8 of Social Security on the basis of the records of self9 employment income established and maintained by 

10 the Commissioner of Social Security in accordance 

11 with such returns; and 

12 ‘‘(3) 62 percent of the taxes imposed under sec13 tion 1411 of the Internal Revenue Code of 1986. 

14 The amounts appropriated by paragraphs (1), (2), and (3) 

15 shall be transferred from time to time from the general 

16 fund in the Treasury to the Social Security Trust Fund, 

17 such amounts to be determined on the basis of estimates 

18 by the Secretary of the Treasury of the taxes, specified 

19 in paragraphs (1), (2), and (3), paid to or deposited into 

20 the Treasury; and proper adjustments shall be made in 

21 amounts subsequently transferred to the extent prior esti22 mates were in excess of or were less than the taxes speci23 fied in such paragraphs. All amounts transferred to the 

24 Social Security Trust Fund under the preceding sentence 

25 shall be invested by the Managing Trustee in the same 


kjohnson on DSK79L0C42PROD with BILLS
29 

•HR 1046 IH

1 manner and to the same extent as the other assets of the 

2 Trust Fund. Notwithstanding the preceding sentence, in 

3 any case in which the Secretary of the Treasury deter4 mines that the assets of the Trust Fund would otherwise 

5 be inadequate to meet the Trust Fund’s obligations for 

6 any month, the Secretary of the Treasury shall transfer 

7 to the Trust Fund on the first day of such month the 

8 total amount which would have been transferred to the 

9 Trust Fund under this section as in effect on October 1, 

10 1990; and the Trust Fund shall pay interest to the general 

11 fund on the amount so transferred on the first day of any 

12 month at a rate (calculated on a daily basis, and applied 

13 against the difference between the amount so transferred 

14 on such first day and the amount which would have been 

15 transferred to the Trust Fund up to that day under the 

16 procedures in effect on January 1, 1983) equal to the rate 

17 earned by the investments of the Trust Fund in the same 

18 month under subsection (d).’’. 

19 (b) REQUIRED ACTUARIAL ANALYSIS.—Section 

20 201(c) of the Social Security Act is amended by striking 

21 the fourth sentence in the matter following paragraph (5) 

22 and inserting the following: ‘‘Such report shall also include 

23 actuarial analysis of the benefit cost with respect to dis24 abled beneficiaries and their auxiliaries, to retired beneVerDate Sep 11 2014 23:24 Mar 10, 2023 Jkt 039200 PO 00000 Frm 00029 Fmt 6652 Sfmt 6201 E:\BILLS\H1046.IH H1046

kjohnson on DSK79L0C42PROD with BILLS
30 

•HR 1046 IH

1 ficiaries and their auxiliaries, and to survivor bene2 ficiaries.’’. 

3 (c) BOARD OF TRUSTEES.— 

4 (1) BOARD OF TRUSTEES OF SOCIAL SECURITY

5 TRUST FUND.—Section 201(c) of the Social Security 

6 Act, as amended by subsection (b) of this section, is 

7 further amended in the matter preceding paragraph 

8 (1) by striking ‘‘the Federal Old-Age and Survivors 

9 Insurance Trust Fund and the Federal Disability 

10 Insurance Trust Fund (hereinafter in this title 

11 called the ‘Trust Funds’)’’ and inserting ‘‘the Social 

12 Security Trust Fund (in this title referred to as the 

13 ‘Trust Fund’)’’. 

14 (2) CONTINUITY OF BOARD OF TRUSTEES.— 

15 The Board of Trustees of the Social Security Trust 

16 Fund created by the amendment made by subsection 

17 (a) shall be a continuous body with the Board of 

18 Trustees of the Federal Old-Age and Survivors In19 surance Trust Fund and the Federal Disability In20 surance Trust Fund in operation prior to the effec21 tive date of such amendment. Individuals serving as 

22 members of the Board of Trustees of the Federal 

23 Old-Age and Survivors Insurance Trust Fund and 

24 the Federal Disability Insurance Trust Fund as of 

25 the effective date of such amendment shall serve the 


kjohnson on DSK79L0C42PROD with BILLS
31 

•HR 1046 IH

1 remainder of their term as members of the Board of 

2 Trustees of the Social Security Trust Fund. 

3 (d) CONFORMING AMENDMENTS RELATED TO SO4 CIAL SECURITY TRUST FUND.— 

5 (1) AMENDMENT TO SECTION HEADING.—The 

6 section heading for section 201 of the Social Secu7 rity Act is amended to read as follows: ‘‘SOCIAL SE8 CURITY TRUST FUND’’. 

9 (2) BOARD OF TRUSTEES.—Section 201(c) of 

10 such Act, as amended by subsections (b) and (c)(1), 

11 is further amended— 

12 (A) in the matter preceding paragraph (1), 

13 by striking ‘‘Board of Trustees of the Trust 

14 Funds’’ and inserting ‘‘Board of Trustees of 

15 the Trust Fund’’; 

16 (B) in paragraph (1), by striking ‘‘Trust 

17 Funds’’ and inserting ‘‘Trust Fund’’; 

18 (C) in paragraph (2)— 

19 (i) by striking ‘‘Trust Funds’’ and in20 serting ‘‘Trust Fund’’; and 

21 (ii) by striking ‘‘their’’ and inserting 

22 ‘‘its’’; 

23 (D) in paragraph (3), by striking ‘‘either 

24 of the Trust Funds’’ and inserting ‘‘the Trust 

25 Fund’’; 


kjohnson on DSK79L0C42PROD with BILLS
32 

•HR 1046 IH

1 (E) in paragraph (5)— 

2 (i) by striking ‘‘managing the Trust 

3 Funds’’ and inserting ‘‘managing the 

4 Trust Fund’’; and 

5 (ii) by striking ‘‘Trust Funds are’’ 

6 and inserting ‘‘Trust Fund is’’; 

7 (F) in the matter following paragraph (5), 

8 by striking ‘‘Trust Funds’’ each place it ap9 pears and inserting ‘‘Trust Fund’’; and 

10 (G) in the second sentence in the matter 

11 following paragraph (5), by striking ‘‘whether 

12 the Federal Old-Age and Survivors Insurance 

13 Trust Fund and the Federal Disability Insur14 ance Trust Fund, individually and collectively, 

15 are’’ and inserting ‘‘whether the Social Security 

16 Trust Fund is’’. 

17 (3) INVESTMENTS.—Section 201 of such Act is 

18 amended in subsections (d) and (e) by striking 

19 ‘‘Trust Funds’’ each place it appears and inserting 

20 ‘‘Trust Fund’’. 

21 (4) CREDITING OF INTEREST AND PROCEEDS

22 TO TRUST FUNDS.—Section 201(f) of such Act is 

23 amended— 

24 (A) by striking ‘‘the Federal Old-Age and 

25 Survivors Insurance Trust Fund and the FedVerDate Sep 11 2014 23:24 Mar 10, 2023 Jkt 039200 PO 00000 Frm 00032 Fmt 6652 Sfmt 6201 E:\BILLS\H1046.IH H1046

kjohnson on DSK79L0C42PROD with BILLS
33 

•HR 1046 IH

1 eral Disability Insurance Trust Fund shall be 

2 credited to and form a part of the Federal Old3 Age and Survivors Insurance Trust Fund and 

4 the Disability Insurance Trust Fund, respec5 tively’’ and inserting ‘‘the Social Security Trust 

6 Fund shall be credited to and form a part of 

7 the Social Security Trust Fund’’; 

8 (B) by striking ‘‘either of the Trust 

9 Funds’’ and inserting ‘‘the Trust Fund’’; and 

10 (C) by striking ‘‘such Trust Fund’’ and in11 serting ‘‘the Trust Fund’’. 

12 (5) ADMINISTRATIVE COSTS.—Section 201(g) of 

13 such Act is amended— 

14 (A) in paragraph (1)— 

15 (i) in subparagraph (A), by striking 

16 ‘‘Of the amounts authorized to be made 

17 available out of the Federal Old-Age and 

18 Survivors Insurance Trust Fund and the 

19 Federal Disability Insurance Trust Fund 

20 under the preceding sentence’’ and all that 

21 follows through ‘‘(Public Law 103–296).’’; 

22 and 

23 (ii) in subparagraph (B)(i)— 

24 (I) by striking subclauses (II) 

25 and (III) and inserting the following: 


kjohnson on DSK79L0C42PROD with BILLS
34 

•HR 1046 IH

1 ‘‘(II) the portion of such costs which 

2 should have been borne by the Social Security 

3 Trust Fund,’’; and 

4 (II) by redesignating subclauses 

5 (IV) and (V) as subclauses (III) and 

6 (IV); 

7 (B) in paragraph (2)— 

8 (i) by striking ‘‘Trust Funds’’ and in9 serting ‘‘Trust Fund’’; and 

10 (ii) by striking the last sentence; and 

11 (C) in paragraph (4), by striking ‘‘Trust 

12 Funds’’ each place it appears and inserting 

13 ‘‘Trust Fund’’. 

14 (6) BENEFIT PAYMENTS.—Section 201(h) of 

15 such Act is amended to read as follows: 

16 ‘‘(h) All benefit payments required to be made under 

17 this title shall be made only from the Social Security Trust 

18 Fund.’’. 

19 (7) GIFTS.—Section 201(i) of such Act is 

20 amended— 

21 (A) in paragraph (1), by striking ‘‘the 

22 Federal Old-Age and Survivors Insurance Trust 

23 Fund, the Federal Disability Insurance Trust 

24 Fund’’ and inserting ‘‘the Social Security Trust 

25 Fund’’; and 


kjohnson on DSK79L0C42PROD with BILLS
35 

•HR 1046 IH

1 (B) in paragraph (2)(B), by striking ‘‘the 

2 Federal Old-Age and Survivors Insurance Trust 

3 Fund’’ and inserting ‘‘the Social Security Trust 

4 Fund’’. 

5 (8) TRAVEL EXPENSES.—Section 201(j) of such 

6 Act is amended by striking ‘‘the Federal Old-Age 

7 and Survivors Insurance Trust Fund, or the Federal 

8 Disability Insurance Trust Fund (as determined ap9 propriate by the Commissioner of Social Security)’’ 

10 and inserting ‘‘the Social Security Trust Fund’’. 

11 (9) DEMONSTRATION PROJECTS.—Section 

12 201(k) of such Act is amended by striking ‘‘the Fed13 eral Disability Insurance Trust Fund and the Fed14 eral Old-Age and Survivors Insurance Trust Fund, 

15 as determined appropriate by the Commissioner of 

16 Social Security’’ and inserting ‘‘the Social Security 

17 Trust Fund’’. 

18 (10) BENEFIT CHECKS.—Section 201(m) of 

19 such Act is amended— 

20 (A) in paragraph (2), by striking ‘‘each of 

21 the Trust Funds’’ and inserting ‘‘the Social Se22 curity Trust Fund’’; 

23 (B) in paragraph (3), by striking ‘‘one of 

24 the Trust Funds’’ and inserting ‘‘the Trust 

25 Fund’’; and 


kjohnson on DSK79L0C42PROD with BILLS
36 

•HR 1046 IH

1 (C) by striking ‘‘such Trust Fund’’ each 

2 place it appears and inserting ‘‘the Trust 

3 Fund’’. 

4 (11) CONFORMING REPEALS.— 

5 (A) IN GENERAL.—Section 201 of such 

6 Act is amended by striking subsections (b), (l), 

7 and (n). 

8 (B) REDESIGNATIONS.—Section 201 of 

9 such Act is further amended— 

10 (i) by redesignating subsections (c) 

11 through (j) as subsections (b) through (i), 

12 respectively; 

13 (ii) by redesignating subsection (k) as 

14 subsection (j); and 

15 (iii) by redesignating subsection (m) 

16 as subsection (k). 

17 (C) REFERENCES TO REDESIGNATED SEC18 TIONS.— 

19 (i) Section 201(a) of such Act, as 

20 amended by subsection (a) of this section, 

21 is further amended— 

22 (I) by striking ‘‘subsection 

23 (i)(1)’’ and inserting ‘‘subsection 

24 (h)(1)’’; and 


kjohnson on DSK79L0C42PROD with BILLS
37 

•HR 1046 IH

1 (II) by striking ‘‘subsection (d)’’ 

2 and inserting ‘‘subsection (c)’’. 

3 (ii) Section 1131(b)(1) of such Act is 

4 amended by striking ‘‘section 201(g)(1)’’ 

5 and inserting ‘‘section 201(f)(1)’’. 

6 (e) OTHER CONFORMING AMENDMENTS TO SOCIAL

7 SECURITY ACT.— 

8 (1) TITLE II.—Title II of the Social Security 

9 Act (42 U.S.C. 401 et seq.) is amended— 

10 (A) in section 202(x)(3)(B)(iii), by striking 

11 ‘‘the Federal Old-Age and Survivors Insurance 

12 Trust Fund and the Federal Disability Insur13 ance Trust Fund, as appropriate,’’ and insert14 ing ‘‘the Social Security Trust Fund’’; 

15 (B) in section 206(d)(5), by striking ‘‘the 

16 Federal Old-Age and Survivors Insurance Trust 

17 Fund and the Federal Disability Insurance 

18 Trust Fund, as appropriate’’ and inserting ‘‘the 

19 Social Security Trust Fund’’; 

20 (C) in section 206(e)(3)(B), by striking 

21 ‘‘the Federal Old-Age and Survivors Insurance 

22 Trust Fund and the Federal Disability Insur23 ance Trust Fund’’ and inserting ‘‘the Social Se24 curity Trust Fund’’; 


kjohnson on DSK79L0C42PROD with BILLS
38 

•HR 1046 IH

1 (D) in section 208(b)(5)(A), by striking 

2 ‘‘the Federal Old-Age and Survivors Insurance 

3 Trust Fund and the Federal Disability Insur4 ance Trust Fund, as appropriate’’ and inserting 

5 ‘‘the Social Security Trust Fund’’; 

6 (E) in section 215(i)(1)(F)— 

7 (i) in clause (i)— 

8 (I) by striking ‘‘the combined 

9 balance in the Federal Old-Age and 

10 Survivors Insurance Trust Fund and 

11 the Federal Disability Insurance 

12 Trust Fund’’ and inserting ‘‘the bal13 ance in the Social Security Trust 

14 Fund’’; and 

15 (II) by striking ‘‘and reduced by 

16 the outstanding amount of any loan 

17 (including interest thereon) thereto18 fore made to either such Fund from 

19 the Federal Hospital Insurance Trust 

20 Fund under section 201(l)’’; and 

21 (ii) in clause (ii)— 

22 (I) by striking ‘‘the Federal Old23 Age and Survivors Insurance Trust 

24 Fund and the Federal Disability In25 surance Trust Fund’’ and inserting 


kjohnson on DSK79L0C42PROD with BILLS
39 

•HR 1046 IH

1 ‘‘the Social Security Trust Fund’’; 

2 and 

3 (II) by striking ‘‘(other than pay4 ments’’ and all that follows through 

5 ‘‘from that Account’’; 

6 (F) in section 217(g)(2), by inserting after 

7 the first sentence the following: ‘‘For purposes 

8 of any such revision of the amount determined 

9 under paragraph (1) that occurs in a year that 

10 begins after the year in which the Social Secu11 rity Expansion Act is enacted, any reference in 

12 such paragraph to the Federal Old-Age and 

13 Survivors Insurance Trust Fund or the Federal 

14 Disability Insurance Trust Fund shall be 

15 deemed to be a reference to the Social Security 

16 Trust Fund.’’; 

17 (G) in section 221(e)— 

18 (i) by striking ‘‘Trust Funds’’ each 

19 place it appears and inserting ‘‘Trust 

20 Fund’’; and 

21 (ii) by striking the last sentence; 

22 (H) in section 221(f), by striking ‘‘Trust 

23 Funds’’ and inserting ‘‘Trust Fund’’; 

24 (I) in section 222(d)— 


kjohnson on DSK79L0C42PROD with BILLS
40 

•HR 1046 IH

1 (i) in the section heading, by striking 

2 ‘‘TRUST FUNDS’’ and inserting ‘‘TRUST

3 FUND’’; 

4 (ii) in paragraph (1), by striking ‘‘to 

5 the end that savings will accrue to the 

6 Trust Funds as a result of rehabilitating 

7 such individuals, there are authorized to be 

8 transferred from the Federal Old-Age and 

9 Survivors Insurance Trust Fund and the 

10 Federal Disability Insurance Trust Fund’’ 

11 and inserting ‘‘to the end that savings will 

12 accrue to the Trust Fund as a result of re13 habilitating such individuals, there are au14 thorized to be transferred from the Social 

15 Security Trust Fund’’; and 

16 (iii) by amending paragraph (4) to 

17 read as follows: 

18 ‘‘(4) The Commissioner of Social Security shall deter19 mine according to such methods and procedures as the 

20 Commissioner may deem appropriate the total amount to 

21 be reimbursed for the cost of services under this sub22 section.’’; 

23 (J) in section 228(g)— 

24 (i) in the section heading, by striking 

25 ‘‘FEDERAL OLD-AGE AND SURVIVORS INVerDate Sep 11 2014 23:24 Mar 10, 2023 Jkt 039200 PO 00000 Frm 00040 Fmt 6652 Sfmt 6201 E:\BILLS\H1046.IH H1046

kjohnson on DSK79L0C42PROD with BILLS
41 

•HR 1046 IH

1 SURANCE TRUST FUND’’ and inserting 

2 ‘‘SOCIAL SECURITY TRUST FUND’’; and 

3 (ii) in the matter preceding paragraph 

4 (1), by striking ‘‘Federal Old-Age and Sur5 vivors Insurance Trust Fund’’ and insert6 ing ‘‘Social Security Trust Fund’’; 

7 (K) in section 231(c), by striking ‘‘Trust 

8 Funds’’ each place it appears and inserting 

9 ‘‘Trust Fund’’; and 

10 (L) in section 234(a)(1), by striking 

11 ‘‘Trust Funds’’ and inserting ‘‘Trust Fund’’. 

12 (2) TITLE VII.—Title VII of the Social Security 

13 Act (42 U.S.C. 901 et seq.) is amended— 

14 (A) in section 703(j), by striking ‘‘Federal 

15 Disability Insurance Trust Fund, the Federal 

16 Old-Age and Survivors Insurance Trust Fund,’’ 

17 and inserting ‘‘Social Security Trust Fund’’; 

18 (B) in section 708(c), by striking ‘‘the 

19 ‘OASDI trust fund ratio’ under section 201(l),’’ 

20 after ‘‘computing’’; 

21 (C) in section 709— 

22 (i) in subsection (a), by striking ‘‘Fed23 eral Old-Age and Survivors Insurance 

24 Trust Fund and the Federal Disability InVerDate Sep 11 2014 23:24 Mar 10, 2023 Jkt 039200 PO 00000 Frm 00041 Fmt 6652 Sfmt 6201 E:\BILLS\H1046.IH H1046

kjohnson on DSK79L0C42PROD with BILLS
42 

•HR 1046 IH

1 surance Trust Fund’’ and inserting ‘‘Social 

2 Security Trust Fund’’; and 

3 (ii) in subsection (b)— 

4 (I) in paragraph (1), by striking 

5 ‘‘section 201(l) or’’; and 

6 (II) in paragraph (2), by striking 

7 ‘‘Federal Old-Age and Survivors In8 surance Trust Fund and the Federal 

9 Disability Insurance Trust Fund’’ and 

10 inserting ‘‘Social Security Trust 

11 Fund’’; and 

12 (D) in section 710— 

13 (i) in subsection (a), by striking ‘‘Fed14 eral Old-Age and Survivors Insurance 

15 Trust Fund and the Federal Disability In16 surance Trust Fund’’ and inserting ‘‘Social 

17 Security Trust Fund’’; and 

18 (ii) in subsection (b)— 

19 (I) by striking ‘‘any Trust Fund 

20 specified in subsection (a)’’ and in21 serting ‘‘the Social Security Trust 

22 Fund’’; and 

23 (II) by striking ‘‘payments from 

24 any such Trust Fund’’ and inserting 


kjohnson on DSK79L0C42PROD with BILLS
43 

•HR 1046 IH

1 ‘‘payments from the Social Security 

2 Trust Fund’’. 

3 (3) TITLE XI.—Title XI of the Social Security 

4 Act (42 U.S.C. 1301 et seq.) is amended— 

5 (A) in section 1106(b), by striking ‘‘the 

6 Federal Old-Age and Survivors Insurance Trust 

7 Fund, the Federal Disability Insurance Trust 

8 Fund’’ and inserting ‘‘the Social Security Trust 

9 Fund’’; 

10 (B) in section 1129(e)(2)(A), by striking 

11 ‘‘the Federal Old-Age and Survivors Insurance 

12 Trust Fund or the Federal Disability Insurance 

13 Trust Fund, as determined appropriate by the 

14 Secretary’’ and inserting ‘‘the Social Security 

15 Trust Fund’’; 

16 (C) in sections 1131(b)(2) and 1140(c)(2), 

17 by striking ‘‘the Federal Old-Age and Survivors 

18 Insurance Trust Fund’’ and inserting ‘‘the So19 cial Security Trust Fund’’; 

20 (D) in section 1145(c)— 

21 (i) by striking paragraphs (1) and (2) 

22 and inserting the following: 

23 ‘‘(1) the Social Security Trust Fund;’’; and 


kjohnson on DSK79L0C42PROD with BILLS
44 

•HR 1046 IH

1 (ii) by redesignating paragraphs (3) 

2 and (4) as paragraphs (2) and (3), respec3 tively; and 

4 (E) in section 1148(j)(1)(A)— 

5 (i) in the first sentence, by striking 

6 ‘‘the Federal Old-Age and Survivors Insur7 ance Trust Fund and the Federal Dis8 ability Insurance Trust Fund’’ and insert9 ing ‘‘the Social Security Trust Fund’’; and 

10 (ii) by striking the second sentence. 

11 (4) TITLE XVIII.—Title XVIII of the Social Se12 curity Act (42 U.S.C. 1395) is amended— 

13 (A) in section 1817(g), by striking ‘‘Fed14 eral Old-Age and Survivors Insurance Trust 

15 Fund and from the Federal Disability Insur16 ance Trust Fund’’ and inserting ‘‘Social Secu17 rity Trust Fund’’; 

18 (B) in section 1840(a)(2), by striking 

19 ‘‘Federal Old-Age and Survivors Insurance 

20 Trust Fund or the Federal Disability Insurance 

21 Trust Fund’’ and inserting ‘‘Social Security 

22 Trust Fund’’; and 

23 (C) in section 1841(f), by striking ‘‘Fed24 eral Old-Age and Survivors Insurance Trust 

25 Fund and from the Federal Disability InsurVerDate Sep 11 2014 23:24 Mar 10, 2023 Jkt 039200 PO 00000 Frm 00044 Fmt 6652 Sfmt 6201 E:\BILLS\H1046.IH H1046

kjohnson on DSK79L0C42PROD with BILLS
45 

•HR 1046 IH

1 ance Trust Fund’’ and inserting ‘‘Social Secu2 rity Trust Fund’’. 

3 (f) CONFORMING AMENDMENTS OUTSIDE OF SOCIAL

4 SECURITY ACT.— 

5 (1) BUDGET.— 

6 (A) OFF-BUDGET EXEMPTION.—Section 

7 405(a) of the Congressional Budget Act of 

8 1974 (2 U.S.C. 655(a)) is amended by striking 

9 ‘‘Federal Old-Age and Survivors Insurance and 

10 Federal Disability Insurance Trust Funds’’ and 

11 inserting ‘‘Social Security Trust Fund’’. 

12 (B) SEQUESTRATION EXEMPTION.—Sec13 tion 255(g)(1)(A) of the Balanced Budget and 

14 Emergency Deficit Control Act of 1985 (2 

15 U.S.C. 905(g)(1)(A)) is amended by striking 

16 ‘‘Payments to Social Security Trust Funds’’ 

17 and inserting ‘‘Payments to the Social Security 

18 Trust Fund’’. 

19 (2) TAX.— 

20 (A) TAXABLE WAGES.—Section 3121(l)(4) 

21 of the Internal Revenue Code of 1986 is 

22 amended by striking ‘‘Federal Old-Age and 

23 Survivors Insurance Trust Fund and the Fed24 eral Disability Insurance Trust Fund’’ and in25 serting ‘‘Social Security Trust Fund’’. 


kjohnson on DSK79L0C42PROD with BILLS
46 

•HR 1046 IH

1 (B) OVERPAYMENTS.— 

2 (i) Section 6402(d)(3)(C) of the Inter3 nal Revenue Code of 1986 is amended by 

4 striking ‘‘Federal Old-Age and Survivors 

5 Insurance Trust Fund or the Federal Dis6 ability Insurance Trust Fund, whichever is 

7 certified to the Secretary as appropriate by 

8 the Commissioner of Social Security’’ and 

9 inserting ‘‘Social Security Trust Fund’’. 

10 (ii) Subsection (f)(2)(B) of section 

11 3720A of title 31, United States Code, is 

12 amended by striking ‘‘Federal Old-Age and 

13 Survivors Insurance Trust Fund or the 

14 Federal Disability Insurance Trust Fund, 

15 whichever is certified to the Secretary of 

16 the Treasury as appropriate by the Com17 missioner of Social Security’’ and inserting 

18 ‘‘Social Security Trust Fund’’. 

19 (3) FALSE CLAIMS PENALTIES.—Subsection 

20 (g)(2) of section 3806 of title 31, United States 

21 Code, is amended— 

22 (A) in subparagraph (B)— 

23 (i) by striking ‘‘Secretary of Health 

24 and Human Services’’ and inserting ‘‘Com25 missioner of Social Security’’; and 


kjohnson on DSK79L0C42PROD with BILLS
47 

•HR 1046 IH

1 (ii) by striking ‘‘Federal Old-Age and 

2 Survivors Insurance Trust Fund’’ and in3 serting ‘‘Social Security Trust Fund’’; and 

4 (B) in subparagraph (C)— 

5 (i) by striking ‘‘Secretary of Health 

6 and Human Services’’ and inserting ‘‘Com7 missioner of Social Security’’; and 

8 (ii) by striking ‘‘Federal Disability In9 surance Trust Fund’’ and inserting ‘‘Social 

10 Security Trust Fund’’. 

11 (4) RAILROAD RETIREMENT BOARD.—Section 7 

12 of the Railroad Retirement Act of 1974 (45 U.S.C. 

13 231f) is amended— 

14 (A) in subsection (b)(2), by striking ‘‘Fed15 eral Old-Age and Survivors Insurance Trust 

16 Fund and the Federal Disability Insurance 

17 Trust Fund’’ and inserting ‘‘Social Security 

18 Trust Fund’’; 

19 (B) in subsection (c)(2)— 

20 (i) by striking ‘‘Secretary of Health, 

21 Education, and Welfare’’ each time it ap22 pears and inserting ‘‘Commissioner of So23 cial Security’’; and 

24 (ii) by striking ‘‘Federal Old-Age and 

25 Survivors Insurance Trust Fund, the FedVerDate Sep 11 2014 23:24 Mar 10, 2023 Jkt 039200 PO 00000 Frm 00047 Fmt 6652 Sfmt 6201 E:\BILLS\H1046.IH H1046

kjohnson on DSK79L0C42PROD with BILLS
48 

•HR 1046 IH

1 eral Disability Insurance Trust Fund,’’ 

2 each time it appears and inserting ‘‘Social 

3 Security Trust Fund’’; and 

4 (C) in subsection (c)(4), by striking ‘‘Fed5 eral Old-Age and Survivors Insurance Trust 

6 Fund, the Federal Disability Insurance Trust 

7 Fund,’’ and inserting ‘‘Social Security Trust 

8 Fund’’. 

9 (g) RULE OF CONSTRUCTION.—Effective beginning 

10 on January 1 of the first calendar year beginning after 

11 the date of the enactment of this section, any reference 

12 in law to the ‘‘Federal Old-Age and Survivors Insurance 

13 Trust Fund’’ or the ‘‘Federal Disability Insurance Trust 

14 Fund’’ is deemed to be a reference to the Social Security 

15 Trust Fund. 

16 (h) EFFECTIVE DATE.—The amendments made by 

17 this section shall take effect on January 1 of the first cal18 endar year beginning after the date of the enactment of 

19 this section. 

Æ 


kjohnson on DSK79L0C42PROD with BILLS