Social Security Reform Act of 1983

Summary

Social Security Reform Act of 1983 - Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to treat as separate functional categories in the U.S. budget: (1) those disbursements from the Federal Old Age and Survivors Insurance Trust Fund which are not intragovernmental transfers within the Government; and (2) employment related social security taxes. Amends titles II and XVIII (Medicare) of the Social Security Act to consolidate the Federal Disability Insurance Trust Fund and the Federal Hospital Insurance Trust Fund by creating the Federal Disability and Health Insurance Trust Fund. Appropriates to such Fund annually, out of any funds in the Treasury not otherwise appropriated, 100 percent of: (1) the disability and hospital insurance tax on employers, employees, and the self-employed established by this Act; and (2) the taxes imposed on married individuals filing joint returns and surviving spouses. Appropriates to the Federal Disability and Health Insurance Trust Fund, upon the depletion of such fund, such sums as may be necessary to assure that payments are made promptly for hospital insurance benefits, wife's insurance benefits, husband's insurance benefits, and child's insurance benefits. Amends the Internal Revenue Code to revise the tax rates for employment related social security taxes. Imposes a disability and health insurance surtax of five percent of an individual's income taxes. Links cost of living increases to increases in the hourly earnings index for private nonfarm workers. Provides for the coverage of Federal employees under the Social Security Act. Exempts from such coverage Federal employees who have attained, as of enactment, a nonforfeitable right to accrued benefits under any Federal retirement system. Provides for the coverage of employees of religious, charitable, educational, and other tax exempt organizations under the Social Security Act.

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1 official file

• Introduced in House

  summary · EN · 20 December 1982

  Open at official source

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