A bill to amend the Internal Revenue Code of 1954 and the Social Security Act to provide that disability insurance benefits and the medicare program shall be financed from general revenues (pursuant to annual authorizations) rather than through the imposition of employment and self-employment taxes as at present, and to adjust the rates of such taxes (for purposes of financing the OASDI program) accordingly.

Summary

Amends titles II (Old Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act and the Internal Revenue Code to finance the payment of disability insurance benefits and hospital insurance benefits through general tax revenues. Adjusts the tax rates applicable to employers, employees, and self-employment income to finance the old age and survivors insurance program.

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Timeline

1. 12 June 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 12 June 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 June 1981

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 12 June 1981

  Open at official source

Sponsors

• Rep. LaFalce, John J. [D-NY-36] · D · Sponsor
• · hswm00 · Standing

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