| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 1129 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to increase the exclusion |
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| 6 | 6 | | from gross income of social security benefits. |
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| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
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| 8 | 8 | | FEBRUARY7, 2025 |
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| 9 | 9 | | Ms. M |
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| 10 | 10 | | ALLIOTAKISintroduced the following bill; which was referred to the |
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| 11 | 11 | | Committee on Ways and Means |
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| 12 | 12 | | A BILL |
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| 13 | 13 | | To amend the Internal Revenue Code of 1986 to increase |
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| 14 | 14 | | the exclusion from gross income of social security benefits. |
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| 15 | 15 | | Be it enacted by the Senate and House of Representa-1 |
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| 16 | 16 | | tives of the United States of America in Congress assembled, 2 |
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| 17 | 17 | | SECTION 1. SHORT TITLE. 3 |
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| 18 | 18 | | This Act may be cited as the ‘‘Tax Relief Unleashed 4 |
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| 19 | 19 | | for Seniors by Trump Act’’. 5 |
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| 20 | 20 | | SEC. 2. INCREASE IN EXCLUSION FROM GROSS INCOME OF 6 |
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| 21 | 21 | | SOCIAL SECURITY BENEFITS. 7 |
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| 22 | 22 | | (a) I |
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| 23 | 23 | | NGENERAL.—Section 86(c) of the Internal Rev-8 |
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| 24 | 24 | | enue Code of 1986 is amended— 9 |
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| 25 | 25 | | VerDate Sep 11 2014 06:43 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1129.IH H1129 |
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| 26 | 26 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 27 | 27 | | •HR 1129 IH |
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| 28 | 28 | | (1) by striking ‘‘$25,000’’ in paragraph (1)(A) 1 |
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| 29 | 29 | | and inserting ‘‘$50,000’’, 2 |
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| 30 | 30 | | (2) by striking ‘‘$32,000’’ in paragraph (1)(B) 3 |
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| 31 | 31 | | and inserting ‘‘$64,000’’, 4 |
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| 32 | 32 | | (3) by striking ‘‘$34,000’’ in paragraph (2)(A) 5 |
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| 33 | 33 | | and inserting ‘‘$59,000’’, and 6 |
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| 34 | 34 | | (4) by striking ‘‘$44,000’’ in paragraph (2)(B) 7 |
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| 35 | 35 | | and inserting ‘‘$76,000’’. 8 |
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| 36 | 36 | | (b) I |
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| 37 | 37 | | NFLATIONADJUSTMENT.—Section 86(c) of such 9 |
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| 38 | 38 | | Code is amended by adding at the end the following new 10 |
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| 39 | 39 | | paragraph: 11 |
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| 40 | 40 | | ‘‘(3) I |
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| 41 | 41 | | NFLATION ADJUSTMENT .— 12 |
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| 42 | 42 | | ‘‘(A) I |
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| 43 | 43 | | N GENERAL.—In the case of any 13 |
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| 44 | 44 | | taxable year beginning after December 31, 14 |
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| 45 | 45 | | 2026, the dollar amounts in paragraphs (1)(A), 15 |
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| 46 | 46 | | (1)(B), (2)(A), and (2)(B) shall each be in-16 |
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| 47 | 47 | | creased by an amount equal to— 17 |
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| 48 | 48 | | ‘‘(i) such dollar amount, multiplied by 18 |
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| 49 | 49 | | ‘‘(ii) the cost-of-living adjustment de-19 |
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| 50 | 50 | | termined under section 1(f)(3) for the cal-20 |
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| 51 | 51 | | endar year in which the taxable year be-21 |
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| 52 | 52 | | gins by substituting ‘calendar year 2025’ 22 |
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| 53 | 53 | | for ‘calendar year 2016’ in subparagraph 23 |
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| 54 | 54 | | (A)(ii) thereof. 24 |
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| 55 | 55 | | VerDate Sep 11 2014 06:43 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H1129.IH H1129 |
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| 56 | 56 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 3 |
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| 57 | 57 | | •HR 1129 IH |
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| 58 | 58 | | ‘‘(B) ROUNDING.—If any increase deter-1 |
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| 59 | 59 | | mined under subparagraph (A) is not a multiple 2 |
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| 60 | 60 | | of $100, such increase shall be rounded to near-3 |
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| 61 | 61 | | est multiple of $100.’’. 4 |
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| 62 | 62 | | (c) E |
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| 63 | 63 | | FFECTIVEDATE.—The amendments made by 5 |
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| 64 | 64 | | this section shall apply to taxable years beginning after 6 |
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| 65 | 65 | | December 31, 2025. 7 |
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| 66 | 66 | | Æ |
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| 67 | 67 | | VerDate Sep 11 2014 06:43 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H1129.IH H1129 |
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| 68 | 68 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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