Social Security Tax Fairness Act

Bill: 115-hr-3982
Sponsor: full_name: Rep. Messer, Luke [R-IN-6]
Introduced: 2017-10-05
Policy area: Taxation
Subjects: Income tax exclusion

Inflation and prices

Marriage and family status

Social security and elderly assistance
Latest action: action_date: 2017-10-24
text: Sponsor introductory remarks on measure. (CR H8131)

Summaries:
action_date: 2017-10-05
action_desc: Introduced in House
text: <p><b>Social Security Tax Fairness Act </b></p> <p>This bill amends the Internal Revenue Code, with respect to the taxation of Social Security benefits, to: (1) increase the income thresholds above which Social Security benefits are subject to certain taxes, (2) require the income thresholds for joint returns to be twice the amounts in effect for other taxpayers, and (3) require the thresholds to be adjusted for inflation after 2018. </p>

tv_txt: I 115th CONGRESS 1st Session H. R. 3982 IN THE HOUSE OF REPRESENTATIVES October 5, 2017 Mr. Messer introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to increase the amount of, and remove the marriage penalty with respect to, social security benefits excludable from gross income.

1. Short title This Act may be cited as the Social Security Tax Fairness Act . 2. Increase in amount of, and removal of marriage penalty with respect to, social security benefits excludable from gross income (a) In general Section 86(c) of the Internal Revenue Code of 1986 is amended— (1) by striking $25,000 in paragraph (1)(A) and inserting $50,000 ; (2) by striking $32,000 in paragraph (1)(B) and inserting twice the amount in effect under subparagraph (A) ; (3) by striking $34,000 in paragraph (2)(A) and inserting $68,000 ; and (4) by striking $44,000 in paragraph (2)(B) and inserting twice the amount in effect under subparagraph (A) . (b) Inflation adjustment Section 86(c) of such Code is amended by adding at the end the following new paragraph: (3) Inflation adjustment In the case of any taxable year beginning in a calendar year after 2018, the dollar amounts contained in paragraphs (1)(A) and (2)(A) shall each be increased by an amount equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins determined by substituting calendar year 2017 for calendar year 1992 in subparagraph (B) thereof. Any increase determined under the preceding sentence which is not a multiple of $50 shall be rounded to the nearest multiple of $50. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.