II 

115TH CONGRESS 

2D SESSION S. 2671 

To protect our Social Security system and improve benefits for current and 

future generations. 

IN THE SENATE OF THE UNITED STATES 

APRIL 16, 2018 

Mr. BLUMENTHAL (for himself and Mr. VAN HOLLEN) introduced the 

following bill; which was read twice and referred to the Committee on Finance 

A BILL 

To protect our Social Security system and improve benefits 

for current and future generations. 

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 2100 

5 Act’’. 

6 SEC. 2. TABLE OF CONTENTS. 

7 The table of contents for this Act is as follows: 

Sec. 1. Short title. 

Sec. 2. Table of contents. 

TITLE I—STRENGTHENING BENEFITS 

Sec. 101. Across-the-board benefit increase. 


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Sec. 102. More accurate cost-of-living adjustment for Social Security beneficiaries. 

Sec. 103. Increase in minimum benefit for lifetime low earners based on years 

in the workforce. 

Sec. 104. Increase in threshold amounts and rate for inclusion of Social Security benefits in income. 

Sec. 105. Holding SSI, Medicaid, and CHIP beneficiaries harmless. 

TITLE II—STRENGTHENING THE TRUST FUND 

Sec. 201. Determination of wages and self-employment income above contribution and benefit base after 2018. 

Sec. 202. Inclusion of earnings over $400,000 in Social Security benefit formula. 

Sec. 203. Adjustment to the Social Security insurance contribution. 

Sec. 204. Social Security Trust Fund established. 

1 TITLE I—STRENGTHENING 

2 BENEFITS 

3 SEC. 101. ACROSS-THE-BOARD BENEFIT INCREASE. 

4 (a) IN GENERAL.—Section 215(a)(1)(A)(i) of the So5 cial Security Act (42 U.S.C. 415(a)(1)(A)(i)) is amended 

6 by striking ‘‘90 percent’’ and inserting ‘‘93 percent’’. 

7 (b) EFFECTIVE DATE.— 

8 (1) IN GENERAL.—The amendment made by 

9 subsection (a) shall apply with respect to monthly 

10 insurance benefits payable for any month after De11 cember 2018. 

12 (2) RECOMPUTATION OF PRIMARY INSURANCE

13 AMOUNTS.—Notwithstanding section 215(f) of the 

14 Social Security Act (42 U.S.C. 415(f)), the Commis15 sioner of Social Security shall recompute primary in16 surance amounts originally computed for months 

17 prior to January 2019 to the extent necessary to 

18 carry out the amendments made by this section. 


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1 SEC. 102. MORE ACCURATE COST-OF-LIVING ADJUSTMENT 

2 FOR SOCIAL SECURITY BENEFICIARIES. 

3 (a) IN GENERAL.—Section 215(i)(1) of the Social Se4 curity Act (42 U.S.C. 415(i)(1)) is amended by adding 

5 at the end the following new subparagraph: 

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

7 the Consumer Price Index for Elderly Consumers 

8 (CPI–E, as published by the Bureau of Labor Sta9 tistics of the Department of Labor).’’. 

10 (b) APPLICATION TO PRE-1979 LAW.— 

11 (1) IN GENERAL.—Section 215(i)(1) of the So12 cial Security Act as in effect in December 1978, and 

13 as applied in certain cases under the provisions of 

14 such Act as in effect after December 1978, is 

15 amended by adding at the end the following new 

16 subparagraph: 

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

18 the Consumer Price Index for Elderly Consumers 

19 (CPI–E, as published by the Bureau of Labor Sta20 tistics of the Department of Labor).’’. 

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

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

23 amended by inserting ‘‘and by section 102 of the So24 cial Security 2100 Act’’ after ‘‘1986’’. 

25 (c) NO EFFECT ON ADJUSTMENTS UNDER OTHER

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


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1 U.S.C. 415(i)) is amended by adding at the end the fol2 lowing: 

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

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

5 an amount based on a change in benefit amounts resulting 

6 from a determination made under this subsection shall be 

7 applied and administered without regard to the amend8 ments made by subsections (a) and (b) of section 102 of 

9 the Social Security 2100 Act.’’. 

10 (d) PUBLICATION OF CONSUMER PRICE INDEX FOR

11 ELDERLY CONSUMERS.—The Bureau of Labor Statistics 

12 of the Department of Labor shall prepare and publish an 

13 index for each calendar month to be known as the ‘‘Con14 sumer Price Index for Elderly Consumers’’ that indicates 

15 changes over time in expenditures for consumption which 

16 are typical for individuals in the United States who have 

17 attained age 62. 

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

19 this section shall apply to determinations made with re20 spect to cost-of-living computation quarters (as defined in 

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

22 415(i)(1)(B))) ending on or after September 30 of the sec23 ond calendar year following the calendar year in which this 

24 Act is enacted. 


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1 SEC. 103. INCREASE IN MINIMUM BENEFIT FOR LIFETIME 

2 LOW EARNERS BASED ON YEARS IN THE 

3 WORKFORCE. 

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

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

6 (1) by redesignating subparagraph (D) as sub7 paragraph (E); and 

8 (2) by inserting after subparagraph (C) the fol9 lowing new subparagraph: 

10 ‘‘(D)(i) Effective with respect to the benefits of indi11 viduals who become eligible for old-age insurance benefits 

12 or disability insurance benefits (or die before becoming so 

13 eligible) after 2018, no primary insurance amount com14 puted under subparagraph (A) may be less than the great15 er of— 

16 ‘‘(I) the minimum monthly amount computed 

17 under subparagraph (C); or 

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

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

20 the alternative minimum amount determined under 

21 clause (ii). 

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

under this clause is the applicable percentage of 1 23 ⁄12 of 

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

25 the year in which the amount is determined. 


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

2 percentage is the percentage specified in connection with 

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

4 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

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. 

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

6 this clause is— 

7 ‘‘(I) for calendar year 2019, the poverty guide8 line for 2018; and 

9 ‘‘(II) for any calendar year after 2019, the an10 nual dollar amount for 2018 multiplied by the ratio 

11 of— 

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

13 defined in section 209(k)(1)) for the second calVerDate Sep 11 2014 22:50 Apr 18, 2018 Jkt 079200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\S2671.IS S2671

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1 endar year preceding the calendar year for 

2 which the determination is made, to 

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

4 so defined) for 2016. 

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

6 ‘‘(I) the term ‘year of work’ means, with re7 spect to an individual, a year to which 4 quarters of 

8 coverage have been credited based on such individ9 ual’s wages and self-employment income; and 

10 ‘‘(II) the term ‘poverty guideline for 2018’ 

11 means the annual poverty guideline for 2018 (as up12 dated annually in the Federal Register by the De13 partment of Health and Human Services under the 

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

15 Reconciliation Act of 1981) as applicable to a single 

16 individual.’’. 

17 (b) RECOMPUTATION.—Notwithstanding section 

18 215(f)(1) of the Social Security Act, the Commissioner of 

19 Social Security shall recompute primary insurance 

20 amounts originally computed for months prior to Novem21 ber 2018 to the extent necessary to carry out the amend22 ments made by this section. 

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

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

25 ‘‘215(a)(1)(E),’’ after ‘‘215(a)(1)(D),’’. 


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1 SEC. 104. INCREASE IN THRESHOLD AMOUNTS AND RATE 

2 FOR INCLUSION OF SOCIAL SECURITY BENE3 FITS IN INCOME. 

4 (a) IN GENERAL.—Subsection (a) of section 86 of the 

5 Internal Revenue Code of 1986 is amended to read as fol6 lows: 

7 ‘‘(a) IN GENERAL.—Gross income for the taxable 

8 year of any taxpayer described in subsection (b) (notwith9 standing section 207 of the Social Security Act) includes 

10 Social Security benefits in an amount equal to the lesser 

11 of— 

12 ‘‘(1) 85 percent of the Social Security benefits 

13 received during the taxable year, or 

14 ‘‘(2) one-half of the excess described in sub15 section (b)(1).’’. 

16 (b) BASE AMOUNT.—Subsection (c) of section 86 of 

17 such Code is amended to read as follows: 

18 ‘‘(c) BASE AMOUNT.—For purposes of this section, 

19 the term ‘base amount’ means— 

20 ‘‘(1) except as otherwise provided in this para21 graph, $50,000, 

22 ‘‘(2) $100,000 in the case of a joint return, and 

23 ‘‘(3) zero in the case of a taxpayer who— 

24 ‘‘(A) is married as of the close of the tax25 able year (within the meaning of section 7703) 


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1 but does not file a joint return for such year, 

2 and 

3 ‘‘(B) does not live apart from his spouse at 

4 all times during the taxable year.’’. 

5 (c) HOSPITAL INSURANCE TRUST FUND HELD

6 HARMLESS.—Section 121(e)(1) of the Social Security 

7 Amendments of 1986 (42 U.S.C. 401 note) is amended 

8 by adding at the end the following new subparagraph: 

9 ‘‘(C) The amounts appropriated to the hospital 

10 insurance trust fund by subparagraph (B) shall be 

11 determined, and transferred from the general fund, 

12 at such times and in such manner so as to replicate, 

13 to the extent possible, the appropriations and trans14 fers which would have occurred with respect to such 

15 trust fund had subsections (a) and (b) of section 

16 104 of the Social Security 2100 Act not been en17 acted.’’. 

18 (d) EFFECTIVE DATE.—The amendments made by 

19 this section shall apply to taxable years beginning after 

20 December 31, 2018. 

21 SEC. 105. HOLDING SSI, MEDICAID, AND CHIP BENE22 FICIARIES HARMLESS. 

23 For purposes of determining the income of an indi24 vidual to establish eligibility for, and the amount of, bene25 fits payable under title XVI of the Social Security Act, 


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1 eligibility for medical assistance under the State plan 

2 under title XIX (or a waiver of such plan), or eligibility 

3 for child health assistance under the State child health 

4 plan under title XXI (or a waiver of the plan), the amount 

5 of any benefit to which the individual is entitled under 

6 title II of such Act shall be deemed not to exceed the 

7 amount of the benefit that would be determined for such 

8 individual under such title as in effect on the day before 

9 the date of the enactment of this Act. 

10 TITLE II—STRENGTHENING THE 

11 TRUST FUND 

12 SEC. 201. DETERMINATION OF WAGES AND SELF-EMPLOY13 MENT INCOME ABOVE CONTRIBUTION AND 

14 BENEFIT BASE AFTER 2018. 

15 (a) DETERMINATION OF WAGES ABOVE CONTRIBU16 TION AND BENEFIT BASE AFTER 2018.— 

17 (1) AMENDMENTS TO THE INTERNAL REVENUE

18 CODE.— 

19 (A) IN GENERAL.—Paragraph (1) of sec20 tion 3121(a) of the Internal Revenue Code of 

21 1986 is amended by inserting after ‘‘such cal22 endar year.’’ the following: ‘‘The preceding sen23 tence shall apply only to calendar years for 

24 which the contribution and benefit base (as so 

25 determined) is less than $400,000, and, for 


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1 such calendar years, only to the extent remu2 neration paid to such employee by such em3 ployer with respect to employment does not ex4 ceed $400,000.’’. 

5 (B) CONFORMING AMENDMENT.—Para6 graph (1) of section 3121(a) of the Internal 

7 Revenue Code of 1986 is amended by striking 

8 ‘‘Act) to’’ and inserting ‘‘Act), or in excess of 

9 $400,000, to’’. 

10 (2) AMENDMENT TO THE SOCIAL SECURITY

11 ACT.—Section 209(a)(1)(I) of the Social Security 

12 Act (42 U.S.C. 409(a)(1)(I)) is amended by insert13 ing before the semicolon at the end the following: 

14 ‘‘except that this subparagraph shall apply only to 

15 calendar years for which the contribution and ben16 efit base (as so determined) is less than $400,000, 

17 and, for such calendar years, only to the extent re18 muneration paid to such employee by such employer 

19 with respect to employment does not exceed 

20 $400,000’’. 

21 (3) EFFECTIVE DATE.—The amendments made 

22 by this subsection shall apply with respect to remu23 neration paid in calendar years after 2018. 


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1 (b) DETERMINATION OF SELF-EMPLOYMENT IN2 COME ABOVE CONTRIBUTION AND BENEFIT BASE AFTER

3 2018.— 

4 (1) AMENDMENTS TO THE INTERNAL REVENUE

5 CODE.— 

6 (A) IN GENERAL.—Paragraph (1) of sec7 tion 1402(b) of the Internal Revenue Code of 

8 1986 is amended to read as follows: 

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

10 1401(a), an amount equal to— 

11 ‘‘(A) $400,000, reduced (but not below 

12 zero) by 

13 ‘‘(B) the sum of— 

14 ‘‘(i) the part of the net earnings from 

15 self-employment (if any) which is not in 

16 excess of— 

17 ‘‘(I) the amount equal to the con18 tribution and benefit base (as deter19 mined under section 230 of the Social 

20 Security Act) which is effective for the 

21 calendar year in which such taxable 

22 year begins, minus 

23 ‘‘(II) the amount of the wages 

24 paid to such individual during such 

25 taxable year, plus 


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

2 such individual during such taxable year 

3 which is in excess of the amount in clause 

4 (i)(I); or’’. 

5 (B) PHASEOUT.—Subsection (b) of section 

6 1402 of the Internal Revenue Code of 1986 is 

7 amended by adding at the end the following: 

8 ‘‘Paragraph (1) shall apply only to taxable 

9 years beginning in calendar years for which the 

10 contribution and benefit base (as determined 

11 under section 230 of the Social Security Act) is 

12 less than $400,000.’’. 

13 (2) AMENDMENTS TO THE SOCIAL SECURITY

14 ACT.— 

15 (A) IN GENERAL.—Section 211(b)(1) of 

16 the Social Security Act (42 U.S.C. 411(b)) is 

17 amended— 

18 (i) in subparagraph (I)— 

19 (I) by inserting ‘‘and before 

20 2019’’ after ‘‘1974’’; and 

21 (II) by striking ‘‘or’’ at the end; 

22 and 

23 (ii) by adding at the end the fol24 lowing: 


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1 ‘‘(J) For any taxable year beginning in any 

2 calendar year after 2018, an amount equal to— 

3 ‘‘(i) $400,000, reduced (but not below 

4 zero) by 

5 ‘‘(ii) the sum of— 

6 ‘‘(I) the part of the net earnings 

7 from self-employment (if any) which is 

8 not in excess of— 

9 ‘‘(aa) the amount equal to 

10 the contribution and benefit base 

11 (as determined under section 

12 230) which is effective for the 

13 calendar year in which such tax14 able year begins, minus 

15 ‘‘(bb) the amount of the 

16 wages paid to such individual 

17 during such taxable year, plus 

18 ‘‘(II) the amount of the wages 

19 paid to such individual during such 

20 taxable year which is in excess of the 

21 amount in subclause (I)(aa); or’’. 

22 (B) PHASEOUT.—Section 211(b) of the 

23 Social Security Act (42 U.S.C. 411(b)) is 

24 amended by adding at the end the following: 

25 ‘‘Paragraph (1) shall apply only to taxable 


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1 years beginning in calendar years for which the 

2 contribution and benefit base (as determined 

3 under section 230) is less than $400,000.’’. 

4 (3) EFFECTIVE DATE.—The amendments made 

5 by this subsection shall apply to net earnings from 

6 self-employment derived, and remuneration paid, in 

7 calendar years after 2018. 

8 SEC. 202. INCLUSION OF EARNINGS OVER $400,000 IN SO9 CIAL SECURITY BENEFIT FORMULA. 

10 (a) INCLUSION OF EARNINGS OVER $400,000 IN DE11 TERMINATION OF PRIMARY INSURANCE AMOUNTS.—Sec12 tion 215(a)(1)(A) of the Social Security Act (42 U.S.C. 

13 415(a)(1)(A)) is amended— 

14 (1) in clause (ii), by striking ‘‘and’’ at the end; 

15 (2) in clause (iii), by inserting ‘‘and’’ at the 

16 end; and 

17 (3) by inserting after clause (iii) the following: 

18 ‘‘(iv) 2 percent of the individual’s excess aver19 age indexed monthly earnings (as defined in sub20 section (b)(5)(A)).’’. 

21 (b) DEFINITION OF EXCESS AVERAGE INDEXED

22 MONTHLY EARNINGS.—Section 215(b) of the Social Secu23 rity Act (42 U.S.C. 415(b)) is amended— 

24 (1) by striking ‘‘wages’’ and ‘‘self-employment 

25 income’’ each place such terms appear and inserting 


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1 ‘‘basic wages’’ and ‘‘basic self-employment income’’, 

2 respectively; and 

3 (2) by adding at the end the following: 

4 ‘‘(5)(A) An individual’s excess average indexed 

5 monthly earnings shall be equal to the amount of the indi6 vidual’s average indexed monthly earnings that would be 

7 determined under this subsection by substituting ‘excess 

8 wages’ for ‘basic wages’ and ‘excess self-employment in9 come’ for ‘basic self-employment income’ each place such 

10 terms appear in this subsection (except in this paragraph). 

11 ‘‘(B) For purposes of this subsection— 

12 ‘‘(i) the term ‘basic wages’ means that portion 

13 of the wages of an individual paid in a year that 

14 does not exceed the contribution and benefit base for 

15 the year; 

16 ‘‘(ii) the term ‘basic self-employment income’ 

17 means that portion of the self-employment income of 

18 an individual credited to a year that does not exceed 

19 an amount equal to the contribution and benefit 

20 base for the year minus the amount of the wages 

21 paid to the individual in the year; 

22 ‘‘(iii) the term ‘excess wages’ means that por23 tion of the wages of an individual paid in a year 

24 after 2018 in excess of the higher of $400,000 or 

25 the contribution and benefit base for the year; and 


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1 ‘‘(iv) the term ‘excess self-employment income’ 

2 means that portion of the self-employment income of 

3 an individual credited to a year after 2018 in excess 

4 of the higher of $400,000 or such contribution and 

5 benefit base.’’. 

6 (c) CONFORMING AMENDMENT.—Section 215(e)(1) 

7 of the Social Security Act (42 U.S.C. 415(e)(1)) is amend8 ed by inserting ‘‘and before 2019’’ after ‘‘after 1974’’. 

9 (d) EFFECTIVE DATE.—The amendments made by 

10 this section shall apply with respect to individuals who ini11 tially become eligible (within the meaning of section 

12 215(a)(3)(B) of the Social Security Act) for old-age or dis13 ability insurance benefits under title II of the Social Secu14 rity Act, or who die (before becoming eligible for such ben15 efits), in any calendar year after 2018. 

16 SEC. 203. ADJUSTMENT TO THE SOCIAL SECURITY INSUR17 ANCE CONTRIBUTION. 

18 (a) TAX ON EMPLOYEES.—Subsection (a) of section 

19 3101 of the Internal Revenue Code of 1986 is amended 

20 to read as follows: 

21 ‘‘(a) OLD-AGE, SURVIVORS, AND DISABILITY INSUR22 ANCE.—In addition to other taxes, there is hereby imposed 

23 on the income of every individual a tax equal to the fol24 lowing percentages of the wages (as defined in section 


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1 3121(a)) received by the individual with respect to employ2 ment (as defined in section 3121(b)): 

‘‘In cases of wages The rate of tax 

received during: shall be: 

1990 or any calendar year before 2020 ............................ 6.20 percent

2020 .................................................................................. 6.25 percent

2021 .................................................................................. 6.30 percent

2022 .................................................................................. 6.35 percent

2023 .................................................................................. 6.40 percent

2024 .................................................................................. 6.45 percent

2025 .................................................................................. 6.50 percent

2026 .................................................................................. 6.55 percent

2027 .................................................................................. 6.60 percent

2028 .................................................................................. 6.65 percent

2029 .................................................................................. 6.70 percent

2030 .................................................................................. 6.75 percent

2031 .................................................................................. 6.80 percent

2032 .................................................................................. 6.85 percent

2033 .................................................................................. 6.90 percent

2034 .................................................................................. 6.95 percent

2035 .................................................................................. 7.00 percent

2036 .................................................................................. 7.05 percent

2037 .................................................................................. 7.10 percent

2038 .................................................................................. 7.15 percent

2039 .................................................................................. 7.20 percent

2040 .................................................................................. 7.25 percent

2041 .................................................................................. 7.30 percent

2042 .................................................................................. 7.35 percent

Any calendar year after 2042 ........................................... 7.40 percent.’’. 

3 (b) TAX ON EMPLOYERS.—Subsection (a) of section 

4 3111 of the Internal Revenue Code of 1986 is amended 

5 to read as follows: 

6 ‘‘(a) OLD-AGE, SURVIVORS, AND DISABILITY INSUR7 ANCE.—In addition to other taxes, there is hereby imposed 

8 on every employer an excise tax, with respect to having 

9 individuals in his employ, equal to the following percent10 ages of the wages (as defined in section 3121(a)) paid by 

11 the employer with respect to employment (as defined in 

12 section 3121(b)): 


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‘‘In cases of wages The rate of tax 

received during: shall be: 

1990 or any calendar year before 2020 ............................ 6.20 percent

2020 .................................................................................. 6.25 percent

2021 .................................................................................. 6.30 percent

2022 .................................................................................. 6.35 percent

2023 .................................................................................. 6.40 percent

2024 .................................................................................. 6.45 percent

2025 .................................................................................. 6.50 percent

2026 .................................................................................. 6.55 percent

2027 .................................................................................. 6.60 percent

2028 .................................................................................. 6.65 percent

2029 .................................................................................. 6.70 percent

2030 .................................................................................. 6.75 percent

2031 .................................................................................. 6.80 percent

2032 .................................................................................. 6.85 percent

2033 .................................................................................. 6.90 percent

2034 .................................................................................. 6.95 percent

2035 .................................................................................. 7.00 percent

2036 .................................................................................. 7.05 percent

2037 .................................................................................. 7.10 percent

2038 .................................................................................. 7.15 percent

2039 .................................................................................. 7.20 percent

2040 .................................................................................. 7.25 percent

2041 .................................................................................. 7.30 percent

2042 .................................................................................. 7.35 percent

Any calendar year after 2042 ........................................... 7.40 percent.’’. 

1 (c) SELF-EMPLOYMENT INCOME.—Subsection (a) of 

2 section 1401 of the Internal Revenue Code of 1986 is 

3 amended to read as follows: 

4 ‘‘(a) OLD-AGE, SURVIVORS, AND DISABILITY INSUR5 ANCE.—In addition to other taxes, there shall be imposed 

6 for each taxable year, on the self-employment income of 

7 every individual, a tax equal to the following percentages 

8 of the amount of the self-employment income for such tax9 able year: 

‘‘In cases of wages The rate of tax 

received during: shall be: 

1990 or any calendar year before 2020 ............................ 12.40 percent

2020 .................................................................................. 12.50 percent

2021 .................................................................................. 12.60 percent

2022 .................................................................................. 12.70 percent

2023 .................................................................................. 12.80 percent


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‘‘In cases of wages The rate of tax 

received during: shall be: 

2024 .................................................................................. 12.90 percent

2025 .................................................................................. 13.00 percent

2026 .................................................................................. 13.10 percent

2027 .................................................................................. 13.20 percent

2028 .................................................................................. 13.30 percent

2029 .................................................................................. 13.40 percent

2030 .................................................................................. 13.50 percent

2031 .................................................................................. 13.60 percent

2032 .................................................................................. 13.70 percent

2033 .................................................................................. 13.80 percent

2034 .................................................................................. 13.90 percent

2035 .................................................................................. 14.00 percent

2036 .................................................................................. 14.10 percent

2037 .................................................................................. 14.20 percent

2038 .................................................................................. 14.30 percent

2039 .................................................................................. 14.40 percent

2040 .................................................................................. 14.50 percent

2041 .................................................................................. 14.60 percent

2042 .................................................................................. 14.70 percent

Any calendar year after 2042 ........................................... 14.80 percent.’’. 

1 (d) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to remuneration received, and tax3 able years beginning, after December 31, 2018. 

4 SEC. 204. SOCIAL SECURITY TRUST FUND ESTABLISHED. 

5 (a) IN GENERAL.—Section 201(a) of the Social Secu6 rity Act (42 U.S.C. 401(a)) is amended to read as follows: 

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

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

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

10 Trust Fund shall consist of the securities held by the Sec11 retary of the Treasury for the Federal Old-Age and Sur12 vivors Insurance Trust Fund and the Federal Disability 

13 Insurance Trust Fund and the amount standing to the 

14 credit of the Federal Old-Age and Survivors Insurance 

15 Trust Fund and the Federal Disability Insurance Trust 


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

2 first calendar year beginning after the date of the enact3 ment of section 204 of the Social Security 2100 Act, which 

4 securities and amount the Secretary of the Treasury is 

5 authorized and directed to transfer to the Social Security 

6 Trust Fund, and, in addition, such gifts and bequests as 

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

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

9 Social Security Trust Fund as hereinafter provided. There 

10 is hereby appropriated to the Social Security Trust Fund 

11 for the first fiscal year that begins after date of the enact12 ment of section 204 of the Social Security 2100 Act, and 

13 for each fiscal year thereafter, out of any moneys in the 

14 Treasury not otherwise appropriated, amounts equivalent 

15 to 100 percent of— 

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

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

18 Revenue Code of 1986 with respect to wages (as de19 fined in section 3121 of such Code) reported to the 

20 Secretary of the Treasury pursuant to subtitle F of 

21 the Internal Revenue Code of 1986, as determined 

22 by the Secretary of the Treasury by applying the ap23 plicable rates of tax under such chapter (other than 

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

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•S 2671 IS

1 cial Security on the basis of the records of wages es2 tablished and maintained by such Commissioner in 

3 accordance with such reports; and 

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

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

6 1986 with respect to self-employment income (as de7 fined in section 1402 of such Code) reported to the 

8 Secretary of the Treasury on tax returns under sub9 title F of such Code, as determined by the Secretary 

10 of the Treasury by applying the applicable rate of 

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

12 to such self-employment income, which self-employ13 ment income shall be certified by the Commissioner 

14 of Social Security on the basis of the records of self15 employment income established and maintained by 

16 the Commissioner of Social Security in accordance 

17 with such returns. 

18 The amounts appropriated by paragraphs (1) and (2) shall 

19 be transferred from time to time from the general fund 

20 in the Treasury to the Social Security Trust Fund, such 

21 amounts to be determined on the basis of estimates by 

22 the Secretary of the Treasury of the taxes, specified in 

23 paragraphs (1) and (2), paid to or deposited into the 

24 Treasury; and proper adjustments shall be made in 

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1 mates were in excess of or were less than the taxes speci2 fied in such paragraphs (1) and (2). All amounts trans3 ferred to the Social Security Trust Fund under the pre4 ceding sentence shall be invested by the Managing Trustee 

5 in the same manner and to the same extent as the other 

6 assets of the Trust Fund. Notwithstanding the preceding 

7 sentence, in any case in which the Secretary of the Treas8 ury determines that the assets of the Trust Fund would 

9 otherwise be inadequate to meet the Trust Fund’s obliga10 tions for any month, the Secretary of the Treasury shall 

11 transfer to the Trust Fund on the first day of such month 

12 the total amount which would have been transferred to 

13 the Trust Fund under this section as in effect on October 

14 1, 1990; and the Trust Fund shall pay interest to the gen15 eral fund on the amount so transferred on the first day 

16 of any month at a rate (calculated on a daily basis, and 

17 applied against the difference between the amount so 

18 transferred on such first day and the amount which would 

19 have been transferred to the Trust Fund up to that day 

20 under the procedures in effect on January 1, 1983) equal 

21 to the rate earned by the investments of the Trust Fund 

22 in the same month under subsection (d).’’. 

23 (b) REQUIRED ACTUARIAL ANALYSIS.—Section 

24 201(c) of the Social Security Act is amended by striking 

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


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•S 2671 IS

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

2 actuarial analysis of the benefit cost with respect to dis3 abled beneficiaries and their auxiliaries, to retired bene4 ficiaries and their auxiliaries, and to survivor bene5 ficiaries.’’. 

6 (c) BOARD OF TRUSTEES.— 

7 (1) BOARD OF TRUSTEES OF SOCIAL SECURITY

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

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

10 further amended in the matter preceding paragraph 

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

12 Insurance Trust Fund and the Federal Disability 

13 Insurance Trust Fund (hereinafter in this title 

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

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

16 ‘Trust Fund’)’’. 

17 (2) CONTINUITY OF BOARD OF TRUSTEES.— 

18 The Board of Trustees of the Social Security Trust 

19 Fund created by the amendment made by subsection 

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

21 Trustees of the Federal Old-Age and Survivors In22 surance Trust Fund and the Federal Disability In23 surance Trust Fund in operation prior to the effec24 tive date of such amendment. Individuals serving as 

25 members of the Board of Trustees of the Federal 


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•S 2671 IS

1 Old-Age and Survivors Insurance Trust Fund and 

2 the Federal Disability Insurance Trust Fund as of 

3 the effective date of such amendment shall serve the 

4 remainder of their term as members of the Board of 

5 Trustees of the Social Security Trust Fund. 

6 (d) CONFORMING AMENDMENTS RELATED TO SO7 CIAL SECURITY TRUST FUND.— 

8 (1) AMENDMENT TO SECTION HEADING.—The 

9 section heading for section 201 of the Social Secu10 rity Act is amended to read as follows: ‘‘SOCIAL SE11 CURITY TRUST FUND’’. 

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

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

14 is further amended— 

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

16 by striking ‘‘Board of Trustees of the Trust 

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

18 the Trust Fund’’; 

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

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

21 (C) in paragraph (2)— 

22 (i) by striking ‘‘Trust Funds’’ and in23 serting ‘‘Trust Fund’’; and 

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

25 ‘‘its’’; 


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•S 2671 IS

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

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

3 Fund’’; 

4 (E) in paragraph (5)— 

5 (i) by striking ‘‘managing the Trust 

6 Funds’’ and inserting ‘‘managing the 

7 Trust Fund’’; and 

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

9 and inserting ‘‘Trust Fund is’’; 

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

11 by striking ‘‘Trust Funds’’ each place it ap12 pears and inserting ‘‘Trust Fund’’; and 

13 (G) in the second sentence in the matter 

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

15 the Federal Old-Age and Survivors Insurance 

16 Trust Fund and the Federal Disability Insur17 ance Trust Fund, individually and collectively, 

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

19 Trust Fund is’’. 

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

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

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

23 ‘‘Trust Fund’’. 


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1 (4) CREDITING OF INTEREST AND PROCEEDS

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

3 amended— 

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

5 Survivors Insurance Trust Fund and the Fed6 eral Disability Insurance Trust Fund shall be 

7 credited to and form a part of the Federal Old8 Age and Survivors Insurance Trust Fund and 

9 the Disability Insurance Trust Fund, respec10 tively’’ and inserting ‘‘the Social Security Trust 

11 Fund shall be credited to and form a part of 

12 the Social Security Trust Fund’’; 

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

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

15 (C) by striking ‘‘such Trust Fund’’ and in16 serting ‘‘the Trust Fund’’. 

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

18 such Act is amended— 

19 (A) in paragraph (1)— 

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

21 ‘‘Of the amounts authorized to be made 

22 available out of the Federal Old-Age and 

23 Survivors Insurance Trust Fund and the 

24 Federal Disability Insurance Trust Fund 


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1 under the preceding sentence’’ and all that 

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

3 (ii) in subparagraph (B)(i)— 

4 (I) by striking subclauses (II) 

5 and (III) and inserting the following: 

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

7 should have been borne by the Social Security 

8 Trust Fund,’’; and 

9 (II) by redesignating subclauses 

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

11 (IV); 

12 (B) in paragraph (2)— 

13 (i) by striking ‘‘Trust Funds’’ and in14 serting ‘‘Trust Fund’’; and 

15 (ii) by striking the last sentence; and 

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

17 Funds’’ each place it appears and inserting 

18 ‘‘Trust Fund’’. 

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

20 such Act is amended to read as follows: 

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

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

23 Fund.’’. 

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

25 amended— 


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•S 2671 IS

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

2 Federal Old-Age and Survivors Insurance Trust 

3 Fund, the Federal Disability Insurance Trust 

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

5 Fund’’; and 

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

7 Federal Old-Age and Survivors Insurance Trust 

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

9 Fund’’. 

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

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

12 and Survivors Insurance Trust Fund, or the Federal 

13 Disability Insurance Trust Fund (as determined ap14 propriate by the Commissioner of Social Security)’’ 

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

16 (9) DEMONSTRATION PROJECTS.—Section 

17 201(k) of such Act is amended by striking ‘‘the Fed18 eral Disability Insurance Trust Fund and the Fed19 eral Old-Age and Survivors Insurance Trust Fund, 

20 as determined appropriate by the Commissioner of 

21 Social Security’’ and inserting ‘‘the Social Security 

22 Trust Fund’’. 

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

24 such Act is amended— 


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•S 2671 IS

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

2 the Trust Funds’’ and inserting ‘‘the Social Se3 curity Trust Fund’’; 

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

5 the Trust Funds’’ and inserting ‘‘the Trust 

6 Fund’’; and 

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

8 place it appears and inserting ‘‘the Trust 

9 Fund’’. 

10 (11) CONFORMING REPEALS.— 

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

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

13 and (n). 

14 (B) REDESIGNATIONS.—Section 201 of 

15 such Act is further amended— 

16 (i) by redesignating subsections (c) 

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

18 respectively; 

19 (ii) by redesignating subsection (k) as 

20 subsection (j); and 

21 (iii) by redesignating subsection (m) 

22 as subsection (k). 

23 (C) REFERENCES TO REDESIGNATED SEC24 TIONS.— 


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•S 2671 IS

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

2 amended by subsection (a) of this section, 

3 is further amended— 

4 (I) by striking ‘‘subsection 

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

6 (h)(1)’’; and 

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

8 and inserting ‘‘subsection (c)’’. 

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

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

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

12 (e) OTHER CONFORMING AMENDMENTS TO SOCIAL

13 SECURITY ACT.— 

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

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

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

17 ‘‘the Federal Old-Age and Survivors Insurance 

18 Trust Fund and the Federal Disability Insur19 ance Trust Fund, as appropriate,’’ and insert20 ing ‘‘the Social Security Trust Fund’’; 

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

22 Federal Old-Age and Survivors Insurance Trust 

23 Fund and the Federal Disability Insurance 

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

25 Social Security Trust Fund’’; 


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•S 2671 IS

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

2 ‘‘the Federal Old-Age and Survivors Insurance 

3 Trust Fund and the Federal Disability Insur4 ance Trust Fund’’ and inserting ‘‘the Social Se5 curity Trust Fund’’; 

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

7 ‘‘the Federal Old-Age and Survivors Insurance 

8 Trust Fund and the Federal Disability Insur9 ance Trust Fund, as appropriate’’ and inserting 

10 ‘‘the Social Security Trust Fund’’; 

11 (E) in section 215(i)(1)(F)— 

12 (i) in clause (i)— 

13 (I) by striking ‘‘the combined 

14 balance in the Federal Old-Age and 

15 Survivors Insurance Trust Fund and 

16 the Federal Disability Insurance 

17 Trust Fund’’ and inserting ‘‘the bal18 ance in the Social Security Trust 

19 Fund’’; and 

20 (II) by striking ‘‘and reduced by 

21 the outstanding amount of any loan 

22 (including interest thereon) thereto23 fore made to either such Fund from 

24 the Federal Hospital Insurance Trust 

25 Fund under section 201(l)’’; and 


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•S 2671 IS

1 (ii) in clause (ii)— 

2 (I) by striking ‘‘the Federal Old3 Age and Survivors Insurance Trust 

4 Fund and the Federal Disability In5 surance Trust Fund’’ and inserting 

6 ‘‘the Social Security Trust Fund’’; 

7 and 

8 (II) by striking ‘‘(other than pay9 ments’’ and all that follows through 

10 ‘‘from that Account’’; 

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

12 the first sentence the following: ‘‘For purposes 

13 of any such revision of the amount determined 

14 under paragraph (1) that occurs in a year after 

15 2015, any reference in such paragraph to the 

16 Federal Old-Age and Survivors Insurance Trust 

17 Fund or the Federal Disability Insurance Trust 

18 Fund shall be deemed to be a reference to the 

19 Social Security Trust Fund.’’; 

20 (G) in section 221(e)— 

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

22 place it appears and inserting ‘‘Trust 

23 Fund’’; and 

24 (ii) by striking the last sentence; 


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•S 2671 IS

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

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

3 (I) in section 222(d)— 

4 (i) in the section heading, by striking 

5 ‘‘TRUST FUNDS’’ and inserting ‘‘TRUST

6 FUND’’; 

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

8 the end that savings will accrue to the 

9 Trust Funds as a result of rehabilitating 

10 such individuals, there are authorized to be 

11 transferred from the Federal Old-Age and 

12 Survivors Insurance Trust Fund and the 

13 Federal Disability Insurance Trust Fund’’ 

14 and inserting ‘‘to the end that savings will 

15 accrue to the Trust Fund as a result of re16 habilitating such individuals, there are au17 thorized to be transferred from the Social 

18 Security Trust Fund’’; and 

19 (iii) by amending paragraph (4) to 

20 read as follows: 

21 ‘‘(4) The Commissioner of Social Security shall deter22 mine according to such methods and procedures as the 

23 Commissioner may deem appropriate the total amount to 

24 be reimbursed for the cost of services under this sub25 section.’’; 


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•S 2671 IS

1 (J) in section 228(g)— 

2 (i) in the section heading, by striking 

3 ‘‘FEDERAL OLD-AGE AND SURVIVORS IN4 SURANCE TRUST FUND’’ and inserting 

5 ‘‘SOCIAL SECURITY TRUST FUND’’; and 

6 (ii) in the matter preceding paragraph 

7 (1), by striking ‘‘Federal Old-Age and Sur8 vivors Insurance Trust Fund’’ and insert9 ing ‘‘Social Security Trust Fund’’; 

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

11 Funds’’ each place it appears and inserting 

12 ‘‘Trust Fund’’; and 

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

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

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

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

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

18 Disability Insurance Trust Fund, the Federal 

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

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

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

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

23 after ‘‘computing’’; 

24 (C) in section 709— 


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•S 2671 IS

1 (i) in subsection (a), by striking ‘‘Fed2 eral Old-Age and Survivors Insurance 

3 Trust Fund and the Federal Disability In4 surance Trust Fund’’ and inserting ‘‘Social 

5 Security Trust Fund’’; and 

6 (ii) in subsection (b)— 

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

8 ‘‘section 201(l) or’’; and 

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

10 ‘‘Federal Old-Age and Survivors In11 surance Trust Fund and the Federal 

12 Disability Insurance Trust Fund’’ and 

13 inserting ‘‘Social Security Trust 

14 Fund’’; and 

15 (D) in section 710— 

16 (i) in subsection (a), by striking ‘‘Fed17 eral Old-Age and Survivors Insurance 

18 Trust Fund and the Federal Disability In19 surance Trust Fund’’ and inserting ‘‘Social 

20 Security Trust Fund’’; and 

21 (ii) in subsection (b)— 

22 (I) by striking ‘‘any Trust Fund 

23 specified in subsection (a)’’ and in24 serting ‘‘the Social Security Trust 

25 Fund’’; and 


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•S 2671 IS

1 (II) by striking ‘‘payments from 

2 any such Trust Fund’’ and inserting 

3 ‘‘payments from the Social Security 

4 Trust Fund’’. 

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

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

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

8 Federal Old-Age and Survivors Insurance Trust 

9 Fund, the Federal Disability Insurance Trust 

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

11 Fund’’; 

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

13 ‘‘the Federal Old-Age and Survivors Insurance 

14 Trust Fund or the Federal Disability Insurance 

15 Trust Fund, as determined appropriate by the 

16 Secretary’’ and inserting ‘‘the Social Security 

17 Trust Fund’’; 

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

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

20 Insurance Trust Fund’’ and inserting ‘‘the So21 cial Security Trust Fund’’; 

22 (D) in section 1145(c)— 

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

24 and inserting the following: 

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


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•S 2671 IS

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 

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•S 2671 IS

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’’. 


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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 


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•S 2671 IS

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 

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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 


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