Tax Fairness for Disabled Workers Act

Bill: 115-s-3326
Sponsor: full_name: Sen. King, Angus S., Jr. [I-ME]
Introduced: 2018-08-01
Policy area: Taxation
Latest action: action_date: 2018-08-01
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2018-08-01
action_desc: Introduced in Senate
text: <p><b>Tax Fairness for Disabled Workers Act </b></p> <p>This bill amends the Internal Revenue Code to prohibit certain lump-sum payments of Social Security Disability Insurance (SSDI) benefits from being included as income to determine if a taxpayer meets the income requirements for the premium assistance tax credit. The bill applies to lump-sum SSDI payments that are: (1) received during the taxable year, and (2) attributable to prior taxable years. </p> <p>(The premium assistance tax credit is provided to eligible individuals and families to subsidize the purchase of health insurance plans on an exchange established under the Patient Protection and Affordable Care Act.) </p>

tv_txt: II 115th CONGRESS 2d Session S. 3326 IN THE SENATE OF THE UNITED STATES August 1, 2018 Mr. King (for himself and Mr. Rubio ) 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 ensure proper allocation of lump-sum payments of disability insurance benefits for determinations of modified adjusted gross income under the refundable tax credit for coverage under a qualified health plan.

1. Short title This Act may be cited as the Tax Fairness for Disabled Workers Act . 2. Allocation of lump-sum payments of Social Security benefits for determinations of modified adjusted gross income under the refundable tax credit for coverage under a qualified health plan (a) In general Section 36B(d)(2) of the Internal Revenue Code of 1986 is amended by inserting at the end the following new subparagraph: (C) Exclusion of certain amounts received as lump-sum payment For purposes of subparagraph (B), such amount shall not include any portion of a lump-sum payment of disability insurance benefits under section 223 of the Social Security Act ( 42 U.S.C. 423 ) which is— (i) received during the taxable year, and (ii) attributable to prior taxable years. . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2018.