II 

118TH CONGRESS 

1ST SESSION S. 2800 

To amend the Internal Revenue Code of 1986 to provide for a temporary 

reduction of the inclusion in gross income for old-age and survivors 

insurance benefit payments under the Social Security Act, as well as 

tier 1 railroad retirement benefits. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 14, 2023 

Mr. RICKETTS introduced the following bill; which was read twice and referred 

to the Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

for a temporary reduction of the inclusion in gross income for old-age and survivors insurance benefit payments under the Social Security Act, as well as tier 

1 railroad retirement benefits. 

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. 

4 This Act may be cited as the ‘‘Social Security Check 

5 Tax Cut Act’’. 


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•S 2800 IS

1 SEC. 2. TEMPORARY REDUCTION OF INCLUSION IN GROSS 

2 INCOME FOR OLD-AGE AND SURVIVORS IN3 SURANCE BENEFIT PAYMENTS. 

4 (a) IN GENERAL.—Section 86 of the Internal Rev5 enue Code of 1986 is amended by adding at the end the 

6 following new subsection: 

7 ‘‘(g) SPECIAL RULES FOR TAXABLE YEARS 2024 

8 AND 2025.— 

9 ‘‘(1) IN GENERAL.—In the case of a taxable 

10 year beginning after December 31, 2023, and before 

11 January 1, 2026, this section shall be applied as 

12 provided in paragraphs (2) and (3). 

13 ‘‘(2) SEPARATE APPLICATION FOR RETIREMENT

14 AND DISABILITY BENEFITS.—Subsection (a) shall be 

15 applied separately with respect to— 

16 ‘‘(A) any social security benefits received 

17 by the taxpayer by reason of entitlement to— 

18 ‘‘(i) a monthly benefit under section 

19 202 of the Social Security Act (42 U.S.C. 

20 402), or 

21 ‘‘(ii) a tier 1 railroad retirement ben22 efit, and 

23 ‘‘(B) any social security benefits received 

24 by the taxpayer by reason of entitlement to a 

25 monthly benefit under section 223 of the Social 

26 Security Act (42 U.S.C. 423). 


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•S 2800 IS

1 ‘‘(3) REDUCTION OF INCLUSION IN GROSS IN2 COME FOR OLD-AGE AND SURVIVORS INSURANCE

3 BENEFIT PAYMENTS.—For purposes of any social 

4 security benefits which are described in paragraph 

5 (2)(A), in lieu of the amount determined under sub6 section (a) (after the application of paragraph (2)) 

7 with respect to such benefits, the amount of such 

8 benefits which are included in the gross income of 

9 the taxpayer under this section shall be equal to— 

10 ‘‘(A) the amount otherwise determined 

11 under subsection (a) (after the application of 

12 paragraph (2)) with respect to such benefits, 

13 minus 

14 ‘‘(B) an amount equal to— 

15 ‘‘(i) in the case of a taxable year be16 ginning after December 31, 2023, and be17 fore January 1, 2025, 10 percent of the 

18 amount determined under subparagraph 

19 (A), and 

20 ‘‘(ii) In the case of a taxable year be21 ginning after December 31, 2024, and be22 fore January 1, 2026, 20 percent of the 

23 amount determined under subparagraph 

24 (A).’’. 


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•S 2800 IS

1 (b) PROTECTION OF TRUST FUNDS.—There are 

2 hereby appropriated to the Federal Old-Age and Survivors 

3 Trust Fund and the Federal Disability Insurance Trust 

4 Fund established under section 201 of the Social Security 

5 Act (42 U.S.C. 401), as well as the Medicare Hospital In6 surance Trust Fund established under section 1817(a) of 

7 the Social Security Act (42 U.S.C. 1395i(a)), amounts 

8 equal to the reduction in revenues to the Treasury by rea9 son of the amendment made by subsection (a). Amounts 

10 appropriated by the preceding sentence shall be trans11 ferred from the general fund at such times and in such 

12 manner as to replicate to the extent possible the transfers 

13 which would have occurred to each such Trust Fund had 

14 such amendment not been enacted. 

15 (c) EFFECTIVE DATE.—The amendment made by 

16 subsection (a) shall apply to taxable years beginning after 

17 December 31, 2023. 

Æ 


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