A bill to amend the Internal Revenue Code of 1954 to provide a refund or credit of 10 percent of the employer and self-employed social security taxes paid by a taxpayer.

Summary

Amends the Internal Revenue Code to allow a tax credit to employers and the self-employed for an amount equal to ten percent of the employer and self-employed social security taxes paid. Authorizes a direct payment of a like amount to State and local governments participating in the social security system and to tax- exempt organizations.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 28 February 1978

  Open at official source

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