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United States · Bill · HR

H.R. 12019 (94th)

A bill to amend the Social Security Act and the Internal Revenue Code of 1954 to provide for Federal participation in the costs of the social security program, with a substantial increase in the contribution and benefit base and with appropriate reductions in social security taxes to reflect the Federal Government's participation in such costs.

referredUnited States· United States Congress· EN

Introduced

23 February 1976

Last action

23 February 1976 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Burke, James A. [D-MA-11], Rep. Barrett, William A. [D-PA-1], Rep. Brademas, John [D-IN-3], Del. de Lugo, Ron [D-VI-At Large], Rep. Duncan, Robert B. [D-OR-3], Rep. Koch, Edward I. [D-NY-18], Rep. Lent, Norman F. [R-NY-4], Rep. McHugh, Matthew F. [D-NY-27], Sen. Matsunaga, Spark M. [D-HI], RICHARD NOLAN, Rep. Oberstar, James L. [D-MN-8], Rep. Patterson, Jerry M. [D-CA-38], Rep. Perkins, Carl Dewey [D-KY-7], Sen. Riegle, Donald W., Jr. [D-MI], Rep. Thompson, Frank, Jr. [D-NJ-4], Rep. Wright, James C., Jr. [D-TX-12]

Subjects

Discovery layer

Source updated

1 August 2024

Official sourceView documentsShare

Summary

Reduces the rate of tax imposed under the Internal Revenue Code of 1954 on employees, employers, and the self-employed for the payment of the cost of the old-age, survivors, and disability insurance and the hospital insurance programs of the Social Security Act. Increases by 50 percent the annual Federal contribution to the Federal Old-Age and Survivors Insurance Trust Fund in order to provide that one-third of the costs of the old-age, survivors, and disability insurance program shall be borne by the Federal Government. Increases the amount of an employee's wages or of the income of a self-employed person which will be subject to the social security withholding tax.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 23 February 1976

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 23 February 1976

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 23 February 1976

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

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Documents

1 official file

Sponsors

Related records

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Sources

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