I 
111TH CONGRESS 
1ST SESSION 
H. R. 143 
To amend the Internal Revenue Code of 1986 to provide for a two-month 
suspension of employment and income taxes, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 6, 2009 
Mr. GOHMERT (for himself, Mr. SHADEGG, Mrs. BLACKBURN, Mr. CARTER, 
Mr. FRANKS of Arizona, Mr. PENCE, Mr. WESTMORELAND, Mr. SES-
SIONS, Mr. MCCOTTER, Mrs. MYRICK, Mr. KLINE of Minnesota, Mr. 
AKIN, Mr. MCHENRY, Mr. NEUGEBAUER, Mrs. MCMORRIS RODGERS, 
Mrs. BACHMANN, Mr. GARRETT of New Jersey, Mr. PRICE of Georgia, 
Mr. CULBERSON, Mr. PAUL, Mr. BURTON of Indiana, Mr. MACK, Mr. 
BROUN of Georgia, Mr. LAMBORN, Mr. PITTS, Mr. BARTLETT, Mr. POE 
of Texas, Mr. SAM JOHNSON of Texas, Mr. BARRETT of South Carolina, 
Mr. GINGREY of Georgia, Mr. ISSA, Mr. YOUNG of Alaska, Mr. LINDER, 
Mr. HALL of Texas, Mr. DEAL of Georgia, Mr. PLATTS, Mr. FLAKE, Mr. 
NUNES, 
Mr. 
SENSENBRENNER, 
Mr. 
TERRY, 
Ms. 
FALLIN, 
Mr. 
HENSARLING, Mr. SCALISE, Mr. LATTA, Mr. CONAWAY, Mr. YOUNG of 
Florida, Mr. MARCHANT, Mr. DAVIS of Kentucky, Mr. GERLACH, Mr. 
OLSON, and Mr. HOEKSTRA) introduced the following bill; which was re-
ferred to the Committee on Ways and Means, and in addition to the 
Committee on Financial Services, for a period to be subsequently deter-
mined by the Speaker, in each case for consideration of such provisions 
as fall within the jurisdiction of the committee concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to provide 
for a two-month suspension of employment and income 
taxes, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SUSPENSION OF EMPLOYMENT TAXES. 
(a) TAX ON EMPLOYEES.—Section 3101 of the Inter-
nal Revenue Code of 1986 (relating to rate of tax) is 
amended by adding at the end the following new sub-
section: 
‘‘(d) SUSPENSION.—In the case of wages received for 
service performed during the 2-month period beginning 
with the first full month after the date of the enactment 
of this subsection, the percentage under subsections (a) 
and (b) shall be zero percent.’’. 
(b) TAX
ON EMPLOYERS.—Section 3111 of such 
Code (relating to rate of tax) is amended by adding at 
the end the following new subsection: 
‘‘(d) SUSPENSION.—In the case of wages paid for 
service performed during the 2-month period beginning 
with the first full month after the date of the enactment 
of this subsection, the percentage under subsections (a) 
and (b) shall be zero percent.’’. 
(c) TAX ON SELF-EMPLOYMENT INCOME.—Section 
1401 of such Code (relating to rate of tax) is amended 
by adding at the end the following new subsection: 
‘‘(d) SUSPENSION.—In the case of self-employment 
income for service performed during the 2-month period 
beginning with the first full month after the date of the 
enactment of this subsection, the percentage under sub-
sections (a) and (b) shall be zero percent.’’. 
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(d) EFFECTIVE DATES.— 
(1) The amendments made by subsections (a) 
and (b) shall apply to remuneration paid or received 
after the date of the enactment of this Act. 
(2) The amendment made by subsection (c) 
shall apply to taxable years beginning after Decem-
ber 31, 2008. 
SEC. 2. SUSPENSION OF INCOME TAXES. 
(a) IN GENERAL.—Part III of subchapter B of chap-
ter 1 of the Internal Revenue Code of 1986 (relating to 
items specifically excluded from gross income) is amended 
by inserting after section 139B the following new section: 
‘‘SEC. 139C. WAGE AND SELF-EMPLOYMENT INCOME. 
‘‘In the case of an individual, gross income shall not 
include— 
‘‘(1) any remuneration for service performed 
during the 2-month period beginning with the first 
full month after the date of the enactment of this 
section, by an employee for his employer, including 
the cash value of all remuneration (including bene-
fits) paid in any medium other than cash wages (as 
defined in section 3121), and 
‘‘(2) any self-employment income (as defined in 
section 1402) derived by such individual during such 
period.’’. 
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(b) CLERICAL AMENDMENT.—The table of sections 
for such part is amended by inserting after the item relat-
ing to section 139B the following new item: 
‘‘Sec. 139C. Wage and self-employment income.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years ending after De-
cember 31, 2008. 
SEC. 3. FUNDING OF SOCIAL SECURITY TRUST FUNDS WITH 
REPEALED TARP FUNDS. 
(a) REPEAL OF FINAL $350 BILLION PURCHASE AU-
THORITY
UNDER
TROUBLED
ASSETS
RELIEF
PRO-
GRAM.—Section 115 of the Emergency Economic Sta-
bilization Act of 2008 (12 U.S.C. 5225) is amended— 
(1) in subsection (a), by striking paragraph (3); 
and 
(2) by striking subsections (c), (d), (e), and (f). 
(b) 
TRANSFER
TO
SOCIAL
SECURITY
TRUST 
FUNDS.— 
(1) ESTIMATE OF SECRETARY.—The Secretary 
of the Treasury (in consultation with the Secretary 
of Health and Human Services and the Commis-
sioner of Social Security, as appropriate) shall esti-
mate the impact that the enactment of this Act has 
on the income and balances of the Federal Old-Age 
and Survivors Insurance Trust Fund, the Federal 
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Disability Insurance Trust Fund, and the Federal 
Hospital Insurance Trust Fund. 
(2) TRANSFER
OF
FUNDS.—If, under sub-
section (a), the Secretary of the Treasury estimates 
that the enactment of this Act has a negative impact 
on the income and balances of any of such funds, 
the Secretary shall transfer from the general reve-
nues of the Federal Government such sums as may 
be necessary so as to ensure that the income and 
balances of such funds are not reduced as a result 
of the enactment of this Act. 
SEC. 4. IMMEDIATE TERMINATION OF TARP PURCHASE AU-
THORITY. 
(a) IN GENERAL.—The authorities provided under 
section 101(a) of the Emergency Economic Stabilization 
Act of 2008 (12 U.S.C. 5211), excluding section 101(a)(3) 
of such Act, shall terminate immediately upon the enact-
ment of this Act. 
(b) RULE
OF
CONSTRUCTION.—The termination 
under subsection (a) shall apply to any authority of the 
Secretary of the Treasury under the Emergency Economic 
Stabilization Act of 2008 to purchase preferred or other 
stock or equity in any financial institution. 
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(c) CONFORMING
AMENDMENT.—The Emergency 
Economic Stabilization Act of 2008 is amended by strik-
ing section 120 (12 U.S.C. 5230). 
Æ 
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