Social Security Earned Benefits Payment Act

Bill: 114-hr-3621
Sponsor: full_name: Rep. Levin, Sander M. [D-MI-9]
Introduced: 2015-09-28
Policy area: Social Welfare
Subjects: Appropriations

Disability assistance

Government trust funds

Self-employed

Social security and elderly assistance

Wages and earnings
Latest action: action_date: 2015-09-28
text: Referred to the Subcommittee on Social Security.

Summaries:
action_date: 2015-09-28
action_desc: Introduced in House
text: <p><b>Social Security Earned Benefits Payment Act</b></p> <p>This bill amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require allocations to the Federal Disability Insurance Trust Fund equal to: (1) 2.65% of the amount of wages and self-employment income paid between December 31, 2015, and January 1, 2021, and (2) 1.80% of wages and self-employment income paid after December 31, 2020.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 3621 IN THE HOUSE OF REPRESENTATIVES September 28, 2015 Mr. Levin (for himself, Mr. Crowley , Mr. Danny K. Davis of Illinois , Mr. Doggett , Mr. Larson of Connecticut , Mr. Lewis , Mr. Neal , Mr. Pascrell , Mr. Rangel , and Ms. Linda T. Sánchez of California ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To ensure that Social Security contributions made by workers are available to pay all benefits which they have earned.

1. Short title This Act may be cited as the Social Security Earned Benefits Payment Act . 2. Allocations to Federal Disability Insurance Trust Fund (a) Allocation with respect to wages Section 201(b)(1) of the Social Security Act ( 42 U.S.C. 401(b)(1) ) is amended by striking and (R) 1.80 per centum of the wages (as so defined) paid after December 31, 1999, and so reported, and inserting (R) 1.80 per centum of the wages (as so defined) paid after December 31, 1999, and before January 1, 2016, and so reported, (S) 2.65 per centum of the wages (as so defined) paid after December 31, 2015, and before January 1, 2021, and so reported, and (T) 1.80 per centum of the wages (as so defined) paid after December 31, 2020, and so reported, . (b) Allocation With Respect to Self-Employment Income Section 201(b)(2) of such Act ( 42 U.S.C. 401(b)(2) ) is amended by striking and (R) 1.80 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1999, and inserting (R) 1.80 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1999, and before January 1, 2016, (S) 2.65 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 2015, and before January 1, 2021, and (T) 1.80 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 2020, . (c) Effective date The amendments made by this section shall apply with respect to wages paid after December 31, 2015, and self-employment income for taxable years beginning after such date.