I
119THCONGRESS
1
STSESSION H. R. 1700
To enhance Social Security benefits and ensure the long-term solvency of
the Social Security program.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY27, 2025
Ms. H
OYLEof Oregon (for herself, Ms. SCHAKOWSKY, Mr. CARTERof Lou-
isiana, Mr. C
ASAR, Ms. CHU, Mr. COHEN, Mr. DELUZIO, Ms. LOIS
F
RANKELof Florida, Ms. JAYAPAL, Mr. KHANNA, Mr. MCGOVERN, Ms.
M
OOREof Wisconsin, Mr. NADLER, Ms. NORTON, Ms. PINGREE, Mr.
P
OCAN, Mrs. RAMIREZ, Ms. SALINAS, Ms. TLAIB, and Ms. TOKUDA) in-
troduced the following bill; which was referred to the Committee on Ways
and Means, and in addition to the Committees on Education and Work-
force, and Transportation and Infrastructure, for a period to be subse-
quently determined by the Speaker, in each case for consideration of such
provisions as fall within the jurisdiction of the committee concerned
A BILL
To enhance Social Security benefits and ensure the long-
term solvency of the Social Security program.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 3
(a) S
HORTTITLE.—This Act may be cited as the 4
‘‘Social Security Expansion Act’’. 5
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(b) TABLE OFCONTENTS.—The table of contents of 1
this Act is as follows: 2
Sec. 1. Short title; table of contents.
Sec. 2. Across-the-board benefit increase.
Sec. 3. Computation of cost-of-living increases.
Sec. 4. Increase in minimum benefit for lifetime low earners based on years in
the workforce.
Sec. 5. Extended benefit eligibility for children who are full-time students.
Sec. 6. Payroll tax on remuneration up to contribution and benefit base and
more than $250,000.
Sec. 7. Tax on net earnings from self-employment up to contribution and ben-
efit base and more than $250,000.
Sec. 8. Tax on investment gain.
Sec. 9. Social Security Trust Fund established.
SEC. 2. ACROSS-THE-BOARD BENEFIT INCREASE.
3
(a) I
NCREASE OF FIRSTBENDPOINTPERCENT-4
AGE.—Section 215(a)(1)(A)(i) of the Social Security Act 5
(42 U.S.C. 415(a)(1)(A)(i)) is amended by striking ‘‘90 6
percent’’ and inserting ‘‘95 percent’’. 7
(b) A
DJUSTMENTTOBENDPOINTAMOUNT.— 8
(1) I
N GENERAL.—Section 215(a)(1)(B) of the 9
Social Security Act (42 U.S.C. 415(a)(1)(B)) is 10
amended— 11
(A) by redesignating clause (iii) as clause 12
(iv); and 13
(B) by inserting after clause (ii) the fol-14
lowing new clause: 15
‘‘(iii) For an individual who is eligible for an 16
old-age or disability insurance benefit (or who dies 17
before becoming eligible for such a benefit) in any 18
calendar year after 2025, the amount determined for 19
the individual under clause (ii) of this subparagraph 20
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for purposes of subparagraph (A)(i)(I) shall be in-1
creased by 18 percent.’’. 2
(2) C
ONFORMING AMENDMENT .—Clause (iv) of 3
section 215(a)(1)(B) of the Social Security Act (42 4
U.S.C. 415(a)(1)(B)), as redesignated by paragraph 5
(1), is amended by inserting ‘‘(after the application 6
of clause (iii), when applicable)’’ after ‘‘clause (ii)’’. 7
(c) E
FFECTIVEDATE.— 8
(1) I
N GENERAL.—The amendments made by 9
this section shall take effect on January 1, 2026, 10
and shall apply with respect to monthly insurance 11
benefits payable under title II of the Social Security 12
Act (42 U.S.C. 401 et seq.) for months in calendar 13
years beginning on or after such date. 14
(2) R
ECOMPUTATION OF PRIMARY INSURANCE 15
AMOUNTS.— 16
(A) I
N GENERAL.—Notwithstanding sec-17
tion 215(f) of the Social Security Act (42 18
U.S.C. 415(f)), the Commissioner of Social Se-19
curity shall recompute primary insurance 20
amounts to the extent necessary to carry out 21
the amendments to this section. 22
(B) R
ULE OF APPLICATION .—In recom-23
puting the primary insurance amount of an in-24
dividual who initially became eligible for old-age 25
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or disability insurance benefits before January 1
1, 2026, the Commissioner of Social Security 2
shall apply the increase described in clause (iii) 3
of section 215(a)(1)(B) of the Social Security 4
Act (as added by subsection (b)(1)(B)) to the 5
amount determined under clause (ii) of such 6
section 215(a)(1)(B) for the calendar year in 7
which the individual initially became eligible for 8
such benefits. 9
SEC. 3. COMPUTATION OF COST-OF-LIVING INCREASES. 10
(a) I
NGENERAL.—Section 215(i)(1) of the Social Se-11
curity Act (42 U.S.C. 415(i)(1)) is amended by adding 12
at the end the following new subparagraph: 13
‘‘(H) the term ‘Consumer Price Index’ means 14
the Consumer Price Index for Elderly Consumers 15
(CPI–E, as published by the Bureau of Labor Sta-16
tistics of the Department of Labor).’’. 17
(b) A
PPLICATION TOPRE-1979 LAW.— 18
(1) I
N GENERAL.—Section 215(i)(1) of the So-19
cial Security Act as in effect in December 1978, and 20
as applied in certain cases under the provisions of 21
such Act as in effect after December 1978, is 22
amended by adding at the end the following new 23
subparagraph: 24
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‘‘(D) the term ‘Consumer Price Index’ means 1
the Consumer Price Index for Elderly Consumers 2
(CPI–E, as published by the Bureau of Labor Sta-3
tistics of the Department of Labor).’’. 4
(2) C
ONFORMING CHANGE .—Section 215(i)(4) 5
of the Social Security Act (42 U.S.C. 415(i)(4)) is 6
amended— 7
(A) by striking ‘‘and by section 9001’’ and 8
inserting ‘‘, section 9001’’; and 9
(B) by inserting ‘‘and section 3 of the So-10
cial Security Expansion Act,’’ after ‘‘1986,’’. 11
(c) N
OEFFECT ONADJUSTMENTSUNDEROTHER 12
L
AWS.—Section 215(i) of the Social Security Act (42 13
U.S.C. 415(i)) is amended by adding at the end the fol-14
lowing: 15
‘‘(6) Any provision of law (other than in this title, 16
title VIII, or title XVI) which provides for adjustment of 17
an amount based on a change in benefit amounts resulting 18
from a determination made under this subsection shall be 19
applied and administered without regard to the amend-20
ments made by section 3 of the Social Security Expansion 21
Act, and, for purposes of making such an adjustment 22
under such a provision, this subsection as in effect on the 23
day before the date of enactment of such Act shall con-24
tinue to apply.’’. 25
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(d) PUBLICATION OFCONSUMERPRICEINDEX FOR 1
E
LDERLYCONSUMERS.—The Bureau of Labor Statistics 2
of the Department of Labor shall prepare and publish the 3
index authorized by section 191 of the Older Americans 4
Amendments Act of 1987 (29 U.S.C. 2 note) for each cal-5
endar month, beginning with July of the calendar year fol-6
lowing the calendar year in which this Act is enacted, and 7
such index shall be known as the ‘‘Consumer Price Index 8
for Elderly Consumers’’. 9
(e) E
FFECTIVEDATE.—The amendments made by 10
subsection (a) shall apply to determinations made with re-11
spect to cost-of-living computation quarters (as defined in 12
section 215(i)(1)(B) of the Social Security Act (42 U.S.C. 13
415(i)(1)(B))) ending on or after September 30 of the sec-14
ond calendar year following the calendar year in which this 15
Act is enacted. 16
SEC. 4. INCREASE IN MINIMUM BENEFIT FOR LIFETIME 17
LOW EARNERS BASED ON YEARS IN THE 18
WORKFORCE. 19
(a) I
NGENERAL.—Section 215(a)(1) of the Social 20
Security Act (42 U.S.C. 415(a)(1)) is amended— 21
(1) by redesignating subparagraph (D) as sub-22
paragraph (E); and 23
(2) by inserting after subparagraph (C) the fol-24
lowing new subparagraph: 25
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‘‘(D)(i) Effective with respect to the benefits of indi-1
viduals who become eligible for old-age insurance benefits 2
or disability insurance benefits (or die before becoming so 3
eligible) after 2025, no primary insurance amount com-4
puted under subparagraph (A) may be less than the great-5
er of— 6
‘‘(I) the minimum monthly amount computed 7
under subparagraph (C); or 8
‘‘(II) in the case of an individual who has more 9
than 10 years of work (as defined in clause (iv)(I)), 10
the alternative minimum amount determined under 11
clause (ii). 12
‘‘(ii)(I) The alternative minimum amount determined 13
under this clause is the applicable percentage of
1
⁄12of 14
the annual dollar amount determined under clause (iii) for 15
the year in which the amount is determined. 16
‘‘(II) For purposes of subclause (I), the applicable 17
percentage is the percentage specified in connection with 18
the number of years of work, as set forth in the following 19
table: 20
‘‘If the number of years The applicable
of work is: percentage is:
11 ...................................................................................... 6.25 percent
12 ...................................................................................... 12.50 percent
13 ...................................................................................... 18.75 percent
14 ...................................................................................... 25.00 percent
15 ...................................................................................... 31.25 percent
16 ...................................................................................... 37.50 percent
17 ...................................................................................... 43.75 percent
18 ...................................................................................... 50.00 percent
19 ...................................................................................... 56.25 percent
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‘‘If the number of years The applicable
of work is: percentage is:
20 ...................................................................................... 62.50 percent
21 ...................................................................................... 68.75 percent
22 ...................................................................................... 75.00 percent
23 ...................................................................................... 81.25 percent
24 ...................................................................................... 87.50 percent
25 ...................................................................................... 93.75 percent
26 ...................................................................................... 100.00 percent
27 ...................................................................................... 106.25 percent
28 ...................................................................................... 112.50 percent
29 ...................................................................................... 118.75 percent
30 or more ........................................................................ 125.00 percent.
‘‘(iii) The annual dollar amount determined under 1
this clause is— 2
‘‘(I) for calendar year 2026, the poverty guide-3
line for 2025; and 4
‘‘(II) for any calendar year after 2026, the an-5
nual dollar amount for 2026 multiplied by the ratio 6
of— 7
‘‘(aa) the national average wage index (as 8
defined in section 209(k)(1)) for the second cal-9
endar year preceding the calendar year for 10
which the determination is made, to 11
‘‘(bb) the national average wage index (as 12
so defined) for 2024. 13
‘‘(iv) For purposes of this subparagraph— 14
‘‘(I) the term ‘year of work’ means, with re-15
spect to an individual, a year to which 4 quarters of 16
coverage have been credited based on such individ-17
ual’s wages and self-employment income; and 18
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‘‘(II) the term ‘poverty guideline for 2025’ 1
means the annual poverty guideline for 2025 (as up-2
dated annually in the Federal Register by the De-3
partment of Health and Human Services under the 4
authority of section 673(2) of the Omnibus Budget 5
Reconciliation Act of 1981) as applicable to a single 6
individual.’’. 7
(b) R
ECOMPUTATION.—Notwithstanding section 8
215(f)(1) of the Social Security Act, the Commissioner of 9
Social Security shall recompute primary insurance 10
amounts originally computed for months prior to Novem-11
ber 2025 to the extent necessary to carry out the amend-12
ments made by this section. 13
(c) C
ONFORMINGAMENDMENT.—Section 209(k)(1) 14
of such Act (42 U.S.C. 409(k)(1)) is amended by inserting 15
‘‘215(a)(1)(E),’’ after ‘‘215(a)(1)(D),’’. 16
SEC. 5. EXTENDED BENEFIT ELIGIBILITY FOR CHILDREN 17
WHO ARE FULL-TIME STUDENTS. 18
(a) I
NGENERAL.— 19
(1) I
N GENERAL.—Section 202(d) of the Social 20
Security Act (42 U.S.C. 402(d)) is amended— 21
(A) in paragraph (1)— 22
(i) in subparagraph (B)— 23
(I) by striking ‘‘or (ii)’’ and in-24
serting ‘‘(ii)’’; and 25
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(II) by inserting ‘‘or (iii) was the 1
child of an individual entitled to dis-2
ability insurance benefits or of an in-3
dividual who dies a fully or currently 4
insured individual and was a full-time 5
student at an educational institution 6
and had not attained the age of 22,’’ 7
after ‘‘22,’’; 8
(ii) in subparagraph (E)— 9
(I) by striking ‘‘and (ii)’’ and in-10
serting ‘‘(ii)’’; and 11
(II) by inserting ‘‘and (iii) is not 12
a full-time student at an educational 13
institution during any part of such 14
month (in the case of a child who is 15
the child of an individual entitled to 16
disability insurance benefits or of an 17
individual who dies a fully or cur-18
rently insured individual)’’ before the 19
comma at the end; 20
(iii) in subparagraph (F), by striking 21
clauses (i) and (ii) and inserting the fol-22
lowing: 23
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‘‘(i) in the case of a child who is the child 1
of an individual entitled to old-age insurance 2
benefits— 3
‘‘(I) the first month during no part of 4
which the child is a full-time elementary or 5
secondary school student, or 6
‘‘(II) the month in which the child at-7
tains the age of 19, and 8
‘‘(ii) in the case of a child who is the child 9
of an individual entitled to disability insurance 10
benefits or of an individual who dies a fully or 11
currently insured individual— 12
‘‘(I) the first month during no part of 13
which the child is a full-time student at an 14
educational institution, or 15
‘‘(II) the month in which the child at-16
tains the age of 22,’’; and 17
(iv) in subparagraph (G), by striking 18
clauses (ii) and (iii) and inserting the fol-19
lowing: 20
‘‘(ii) in the case of a child who is the child 21
of an individual entitled to old-age insurance 22
benefits— 23
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‘‘(I) the first month during no part of 1
which the child is a full-time elementary or 2
secondary school student, or 3
‘‘(II) the month in which the child at-4
tains the age of 19, and 5
‘‘(iii) in the case of a child who is the child 6
of an individual entitled to disability insurance 7
benefits or of an individual who dies a fully or 8
currently insured individual— 9
‘‘(I) the first month during no part of 10
which the child is a full-time student at an 11
educational institution, or 12
‘‘(II) the month in which the child at-13
tains the age of 22,’’; 14
(B) in paragraph (6)— 15
(i) in subparagraph (A)— 16
(I) by striking ‘‘or (ii)’’ and in-17
serting ‘‘(ii)’’; and 18
(II) by inserting ‘‘or (iii) is the 19
child of an individual entitled to dis-20
ability insurance benefits or of an in-21
dividual who dies a fully or currently 22
insured individual and is a full-time 23
student at an educational institution 24
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and has not attained the age of 22,’’ 1
after ‘‘22,’’; and 2
(ii) by striking subparagraphs (D) 3
and (E) and inserting the following: 4
‘‘(D) the earlier of— 5
‘‘(i) in the case of a child who is the child 6
of an individual entitled to old-age insurance 7
benefits— 8
‘‘(I) the first month during no part of 9
which the child is a full-time elementary or 10
secondary school student; or 11
‘‘(II) the month in which the child at-12
tains the age of 19; and 13
‘‘(ii) in the case of a child who is the child 14
of an individual entitled to disability insurance 15
benefits or of an individual who dies a fully or 16
currently insured individual— 17
‘‘(I) the first month during no part of 18
which the child is a full-time student at an 19
educational institution; or 20
‘‘(II) the month in which the child at-21
tains the age of 22, 22
but only if the child is not under a disability (as 23
so defined) in such earlier month; or 24
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‘‘(E) if the child was under a disability (as so 1
defined), the termination month (as defined in para-2
graph (1)(G)(i)), subject to section 223(e), or (if 3
later) the earlier of— 4
‘‘(i) in the case of a child who is the child 5
of an individual entitled to old-age insurance 6
benefits— 7
‘‘(I) the first month during no part of 8
which the child is a full-time elementary or 9
secondary school student; or 10
‘‘(II) the month in which the child at-11
tains the age of 19; and 12
‘‘(ii) in the case of a child who is the child 13
of an individual entitled to disability insurance 14
benefits or of an individual who dies a fully or 15
currently insured individual— 16
‘‘(I) the first month during no part of 17
which the child is a full-time student at an 18
educational institution; or 19
‘‘(II) the month in which the child at-20
tains the age of 22.’’; and 21
(C) in paragraph (7), by adding at the end 22
the following new paragraphs: 23
‘‘(E) The term ‘full-time student at an edu-24
cational institution’ means an individual who is in 25
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full-time attendance as a student at an elementary 1
school (but only in the case of an individual who has 2
not attained the age of 19) or a secondary school or 3
an institution described in section 102 of the Higher 4
Education Act of 1965 (20 U.S.C. 1002), as deter-5
mined by the Commissioner of Social Security (in 6
accordance with regulations prescribed by the Com-7
missioner) in the light of the standards and prac-8
tices of the schools and institutions involved, except 9
that no individual shall be considered a ‘full-time 10
student at an educational institution’ if the indi-11
vidual is paid by his employer while attending a 12
school or institution at the request, or pursuant to 13
a requirement, of his employer. An individual shall 14
not be considered a ‘full-time student at an edu-15
cational institution’ for the purpose of this section 16
while that individual is confined in a jail, prison, or 17
other penal institution or correctional facility, pursu-18
ant to the individual’s conviction of an offense (com-19
mitted after the effective date of this sentence) 20
which constituted a felony under applicable law. An 21
individual who is determined to be a full-time stu-22
dent at an educational institution shall be deemed to 23
be such a student throughout the month with re-24
spect to which such determination is made. 25
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‘‘(F) Except to the extent provided in such reg-1
ulations, an individual shall be deemed to be a full- 2
time student at a school or educational institution 3
during any period of nonattendance at a school or 4
institution at which he has been in full-time attend-5
ance if (i) such period is 4 calendar months or less, 6
and (ii) the individual shows to the satisfaction of 7
the Commissioner of Social Security that the indi-8
vidual intends to continue to be in full-time attend-9
ance at a secondary school or institution described 10
in section 102 of the Higher Education Act of 1965 11
(20 U.S.C. 1002) immediately following such period. 12
An individual who does not meet the requirement of 13
clause (ii) with respect to such period of nonattend-14
ance shall be deemed to have met such requirement 15
(as of the beginning of such period) if he is in full- 16
time attendance at such a school or institution im-17
mediately following such period. 18
‘‘(G) A child who attains age 22 at a time when 19
the child is a full-time student of an educational in-20
stitution (as defined in subparagraph (E) and with-21
out application of subparagraph (F)) but has not (at 22
such time) completed the requirements for, or re-23
ceived, a diploma or equivalent certificate from a 24
secondary school (as defined in subparagraph (C)(i)) 25
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or, if such child is a student at an educational insti-1
tution described in section 102 of the Higher Edu-2
cation Act of 1965, a diploma, degree, or equivalent 3
degree from such an institution, shall be deemed (for 4
purposes of determining whether the child’s entitle-5
ment to benefits under this subsection has termi-6
nated under paragraph (1)(F) and for purposes of 7
determining his initial entitlement to such benefits 8
under clause (iii) of paragraph (1)(B)) not to have 9
attained such age until the first day of the first 10
month following the end of the quarter or semester 11
in which he is enrolled at such time (or, if the sec-12
ondary school or educational institution in which he 13
is enrolled is not operated on a quarter or semester 14
system, until the first day of the first month fol-15
lowing the completion of the course in which the 16
child is so enrolled or until the first day of the third 17
month beginning after such time, whichever first oc-18
curs).’’. 19
(2) E
FFECTIVE DATE.—The amendments made 20
by this subsection shall apply to child’s insurance 21
benefits that are payable for months beginning on or 22
after January 1, 2026. 23
(b) R
AILROADRETIREMENTACT.— 24
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(1) Section 2(d) of the Railroad Retirement Act 1
of 1974 (45 U.S.C. 232(2)(d)) is amended— 2
(A) in clause (iii) of paragraph (1), by 3
striking ‘‘will be less than nineteen years of age 4
and a full-time elementary or secondary school 5
student’’ and inserting ‘‘will be less than 22 6
years of age and a full-time student at an edu-7
cational institution (as defined in section 8
202(d)(7)(E) of the Social Security Act)’’; and 9
(B) in paragraph (4)— 10
(i) by striking ‘‘(defining the terms 11
‘full-time elementary or secondary school 12
student’ and ‘elementary or secondary 13
school’)’’; 14
(ii) by striking ‘‘nineteen’’ and insert-15
ing ‘‘22’’; 16
(iii) by striking ‘‘full-time elementary 17
or secondary school student’’ and inserting 18
‘‘full-time student at an educational insti-19
tution’’; 20
(iv) by striking ‘‘subparagraph (A) of 21
paragraph (7) of section 202(d) of the So-22
cial Security Act and without the applica-23
tion of subparagraph (B)’’ and inserting 24
‘‘subparagraph (E) of section 202(d)(7) of 25
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the Social Security Act, without regard to 1
subparagraph (F) of such section’’; 2
(v) by striking ‘‘a diploma or equiva-3
lent certificate from a secondary school (as 4
defined in section 202(d)(7)(c)(i) of the 5
Social Security Act)’’ and inserting ‘‘a di-6
ploma, degree, or equivalent certificate 7
from a secondary school or educational in-8
stitution described in section 202(d)(7)(E) 9
of the Social Security Act’’; and 10
(vi) by striking ‘‘elementary or sec-11
ondary school in which he is enrolled’’ and 12
inserting ‘‘school or institution in which 13
the child is enrolled’’. 14
(2) Section 5(c)(7) of the Railroad Retirement 15
Act of 1974 (45 U.S.C. 235(c)(7)) is amended— 16
(A) by striking ‘‘full-time elementary or 17
secondary school student’’ and inserting ‘‘full- 18
time student at an educational institution’’; and 19
(B) by striking ‘‘19’’ and inserting ‘‘22’’. 20
(3) The amendments made by this subsection 21
shall apply to benefits under the Railroad Retire-22
ment Act of 1974 that are payable for months be-23
ginning on or after January 1, 2026. 24
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SEC. 6. PAYROLL TAX ON REMUNERATION UP TO CON-1
TRIBUTION AND BENEFIT BASE AND MORE 2
THAN $250,000. 3
(a) I
NGENERAL.—Paragraph (1) of section 3121(a) 4
of the Internal Revenue Code of 1986 is amended to read 5
as follows: 6
‘‘(1) in the case of taxes imposed by sections 7
3101(a) and 3111(a), for any calendar year in which 8
the contribution and benefit base (as determined 9
under section 230 of the Social Security Act) is less 10
than $250,000, so much of the remuneration (other 11
than remuneration referred to in the succeeding 12
paragraphs of this subsection) with respect to em-13
ployment that has been paid to an individual by an 14
employer during the calendar year as exceeds such 15
contribution and benefit base but does not exceed 16
$250,000;’’. 17
(b) C
ONFORMINGAMENDMENTS.— 18
(1) S
UCCESSOR EMPLOYERS .—Section 3121 of 19
the Internal Revenue Code of 1986 is amended by 20
adding at the end the following new subsection: 21
‘‘(aa) S
PECIALRULES FORSUCCESSOREMPLOY-22
ERS.—For purposes of subsection (a)(1), if an employer 23
(hereinafter referred to as successor employer) during any 24
calendar year acquires substantially all the property used 25
in a trade or business of another employer (hereinafter 26
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referred to as a predecessor), or used in a separate unit 1
of a trade or business of a predecessor, and immediately 2
after the acquisition employs in his trade or business an 3
individual who immediately prior to the acquisition was 4
employed in the trade or business of such predecessor, 5
then, for the purpose of determining the amount of remu-6
neration paid by the successor employer under such sub-7
section, any remuneration (other than remuneration re-8
ferred to in the paragraphs succeeding paragraph (1) of 9
subsection (a)) with respect to employment paid (or con-10
sidered under this subsection as having been paid) to such 11
individual by such predecessor during such calendar year 12
and prior to such acquisition shall be considered as having 13
been paid by such successor employer.’’. 14
(2) A
PPLICATION TO RAILROAD RETIREMENT 15
TAXES.—Clause (i) of section 3231(e)(2)(A) of such 16
Code is amended to read as follows: 17
‘‘(i) I
N GENERAL.—For any calendar 18
year in which the applicable base is less 19
than $250,000, the term ‘compensation’ 20
does not include so much of the remunera-21
tion paid during any calendar year to an 22
individual by an employer for services ren-23
dered as an employee to such employer as 24
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exceeds the applicable base but does not 1
exceed $250,000.’’. 2
(c) E
FFECTIVEDATE.—The amendments made by 3
this section shall apply to remuneration paid on or after 4
January 1 of the first calendar year that begins after the 5
date of enactment of this Act. 6
SEC. 7. TAX ON NET EARNINGS FROM SELF-EMPLOYMENT 7
UP TO CONTRIBUTION AND BENEFIT BASE 8
AND MORE THAN $250,000. 9
(a) I
NGENERAL.—Paragraph (1) of section 1402(b) 10
of the Internal Revenue Code of 1986 is amended to read 11
as follows: 12
‘‘(1) in the case of the tax imposed by section 13
1401(a) for any taxable year beginning in a calendar 14
year in which the contribution and benefit base (as 15
determined under section 230 of the Social Security 16
Act) is less than $250,000, the excess (if any) of— 17
‘‘(A) so much of the net earnings from 18
self-employment which is in excess of— 19
‘‘(i) an amount equal to the contribu-20
tion and benefit base (as determined under 21
section 230 of the Social Security Act) 22
which is effective for the calendar year in 23
which such taxable year begins, minus 24
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‘‘(ii) the amount of the wages paid to 1
such individual during such taxable years, 2
over 3
‘‘(B) the sum of— 4
‘‘(i) the excess (if any) of— 5
‘‘(I) the net earning from self- 6
employment reduced by the excess (if 7
any) of subparagraph (A)(i) over sub-8
paragraph (A)(ii), over 9
‘‘(II) $250,000, reduced by such 10
contribution and benefit base, plus 11
‘‘(ii) the amount of the wages paid to 12
such individual during such taxable year in 13
excess of such contribution and benefit 14
base and not in excess of $250,000; or’’. 15
(b) E
FFECTIVEDATE.—The amendments made by 16
this section shall apply to net earnings from self-employ-17
ment derived, and remuneration paid, on or after January 18
1 of the first calendar year that begins after the date of 19
enactment of this Act. 20
SEC. 8. TAX ON INVESTMENT GAIN. 21
(a) I
NCREASE INTAX.— 22
(1) I
N GENERAL.—Subsection (a) of section 23
1411 of the Internal Revenue Code of 1986 is 24
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amended by striking ‘‘3.8 percent’’ each place it ap-1
pears and inserting ‘‘16.2 percent’’. 2
(2) C
ONFORMING AMENDMENT .—The heading 3
for chapter 2A of the Internal Revenue Code of 4
1986 is amended by striking ‘‘UNEARNED IN-5
COME MEDICARE CONTRIBUTION ’’ and 6
inserting ‘‘ADDITIONAL TAX ON UN-7
EARNED INCOME IN LIEU OF SOCIAL 8
SECURITY AND MEDICARE TAXES ’’. 9
(b) I
NCLUSION OFACTIVETRADE ORBUSINESSIN-10
COME.— 11
(1) I
N GENERAL.—Section 1411(c)(1)(A) of the 12
Internal Revenue Code of 1986 is amended— 13
(A) in clause (i), by striking ‘‘, other than 14
such income which is derived in the ordinary 15
course of a trade or business not described in 16
paragraph (2)’’, 17
(B) in clause (ii), by striking ‘‘described in 18
paragraph (2)’’ and inserting ‘‘(determined 19
under rules similar to the rules of paragraphs 20
(5) and (6) of section 469(c))’’, and 21
(C) in clause (iii), by striking ‘‘other than 22
property held in a trade or business not de-23
scribed in paragraph (2)’’. 24
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(2) DENIAL OF DEDUCTION FOR NET OPER -1
ATING LOSSES.—Section 1411(c)(1)(B) of such Code 2
is amended by inserting ‘‘(other than the deduction 3
for net operating losses provided in section 172)’’ 4
after ‘‘net gain’’. 5
(3) C
ONFORMING AMENDMENTS .— 6
(A) Section 1411(c) of such Code is 7
amended by striking paragraphs (2), (3), and 8
(4) and by redesignating paragraphs (5) and 9
(6) as paragraphs (2) and (3), respectively. 10
(B) Section 1411(c)(3) of such Code, as 11
redesignated by subparagraph (A), is amended 12
to read as follows: 13
‘‘(3) S
PECIAL RULE.—Net investment income 14
shall not include— 15
‘‘(A) any item taken into account in deter-16
mining self-employment income for such taxable 17
year on which a tax is imposed by section 1401, 18
or 19
‘‘(B) any item taken into account in deter-20
mining wages received with respect to employ-21
ment for such taxable year on which a tax is 22
imposed by section 3101.’’. 23
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(c) EFFECTIVEDATE.—The amendments made by 1
this section shall apply to taxable years beginning after 2
the date of enactment of this Act. 3
SEC. 9. SOCIAL SECURITY TRUST FUND ESTABLISHED. 4
(a) I
NGENERAL.—Section 201(a) of the Social Secu-5
rity Act (42 U.S.C. 401(a)) is amended to read as follows: 6
‘‘(a) There is hereby created on the books of the 7
Treasury of the United States a trust fund to be known 8
as the ‘Social Security Trust Fund’. The Social Security 9
Trust Fund shall consist of the securities held by the Sec-10
retary of the Treasury for the Federal Old-Age and Sur-11
vivors Insurance Trust Fund and the Federal Disability 12
Insurance Trust Fund and the amount standing to the 13
credit of the Federal Old-Age and Survivors Insurance 14
Trust Fund and the Federal Disability Insurance Trust 15
Fund on the books of the Treasury on January 1 of the 16
first calendar year beginning after the date of the enact-17
ment of section 9 of the Social Security Expansion Act, 18
which securities and amount the Secretary of the Treasury 19
is authorized and directed to transfer to the Social Secu-20
rity Trust Fund, and, in addition, such gifts and bequests 21
as may be made as provided in subsection (i)(1), and such 22
amounts as may be appropriated to, or deposited in, the 23
Social Security Trust Fund as hereinafter provided. There 24
is hereby appropriated to the Social Security Trust Fund 25
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for the first fiscal year that begins after the date of the 1
enactment of section 9 of the Social Security Expansion 2
Act, and for each fiscal year thereafter, out of any moneys 3
in the Treasury not otherwise appropriated, amounts 4
equivalent to 100 percent of— 5
‘‘(1) the taxes imposed by chapter 21 (other 6
than sections 3101(b) and 3111(b)) of the Internal 7
Revenue Code of 1986 with respect to wages (as de-8
fined in section 3121 of such Code) reported to the 9
Secretary of the Treasury pursuant to subtitle F of 10
the Internal Revenue Code of 1986, as determined 11
by the Secretary of the Treasury by applying the ap-12
plicable rates of tax under such chapter (other than 13
sections 3101(b) and 3111(b)) to such wages, which 14
wages shall be certified by the Commissioner of So-15
cial Security on the basis of the records of wages es-16
tablished and maintained by such Commissioner in 17
accordance with such reports; 18
‘‘(2) the taxes imposed by chapter 2 (other than 19
section 1401(b)) of the Internal Revenue Code of 20
1986 with respect to self-employment income (as de-21
fined in section 1402 of such Code) reported to the 22
Secretary of the Treasury on tax returns under sub-23
title F of such Code, as determined by the Secretary 24
of the Treasury by applying the applicable rate of 25
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tax under such chapter (other than section 1401(b)) 1
to such self-employment income, which self-employ-2
ment income shall be certified by the Commissioner 3
of Social Security on the basis of the records of self- 4
employment income established and maintained by 5
the Commissioner of Social Security in accordance 6
with such returns; and 7
‘‘(3) 62 percent of the taxes imposed under sec-8
tion 1411 of the Internal Revenue Code of 1986. 9
The amounts appropriated by paragraphs (1), (2), and (3) 10
shall be transferred from time to time from the general 11
fund in the Treasury to the Social Security Trust Fund, 12
such amounts to be determined on the basis of estimates 13
by the Secretary of the Treasury of the taxes, specified 14
in paragraphs (1), (2), and (3), paid to or deposited into 15
the Treasury; and proper adjustments shall be made in 16
amounts subsequently transferred to the extent prior esti-17
mates were in excess of or were less than the taxes speci-18
fied in such paragraphs. All amounts transferred to the 19
Social Security Trust Fund under the preceding sentence 20
shall be invested by the Managing Trustee in the same 21
manner and to the same extent as the other assets of the 22
Trust Fund. Notwithstanding the preceding sentence, in 23
any case in which the Secretary of the Treasury deter-24
mines that the assets of the Trust Fund would otherwise 25
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be inadequate to meet the Trust Fund’s obligations for 1
any month, the Secretary of the Treasury shall transfer 2
to the Trust Fund on the first day of such month the 3
total amount which would have been transferred to the 4
Trust Fund under this section as in effect on October 1, 5
1990; and the Trust Fund shall pay interest to the general 6
fund on the amount so transferred on the first day of any 7
month at a rate (calculated on a daily basis, and applied 8
against the difference between the amount so transferred 9
on such first day and the amount which would have been 10
transferred to the Trust Fund up to that day under the 11
procedures in effect on January 1, 1983) equal to the rate 12
earned by the investments of the Trust Fund in the same 13
month under subsection (d).’’. 14
(b) R
EQUIRED ACTUARIALANALYSIS.—Section 15
201(c) of the Social Security Act is amended by striking 16
the fourth sentence in the matter following paragraph (5) 17
and inserting the following: ‘‘Such report shall also include 18
actuarial analysis of the benefit cost with respect to dis-19
abled beneficiaries and their auxiliaries, to retired bene-20
ficiaries and their auxiliaries, and to survivor bene-21
ficiaries.’’. 22
(c) B
OARD OFTRUSTEES.— 23
(1) B
OARD OF TRUSTEES OF SOCIAL SECURITY 24
TRUST FUND.—Section 201(c) of the Social Security 25
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Act, as amended by subsection (b) of this section, is 1
further amended in the matter preceding paragraph 2
(1) by striking ‘‘the Federal Old-Age and Survivors 3
Insurance Trust Fund and the Federal Disability 4
Insurance Trust Fund (hereinafter in this title 5
called the ‘Trust Funds’)’’ and inserting ‘‘the Social 6
Security Trust Fund (in this title referred to as the 7
‘Trust Fund’)’’. 8
(2) C
ONTINUITY OF BOARD OF TRUSTEES .— 9
The Board of Trustees of the Social Security Trust 10
Fund created by the amendment made by subsection 11
(a) shall be a continuous body with the Board of 12
Trustees of the Federal Old-Age and Survivors In-13
surance Trust Fund and the Federal Disability In-14
surance Trust Fund in operation prior to the effec-15
tive date of such amendment. Individuals serving as 16
members of the Board of Trustees of the Federal 17
Old-Age and Survivors Insurance Trust Fund and 18
the Federal Disability Insurance Trust Fund as of 19
the effective date of such amendment shall serve the 20
remainder of their term as members of the Board of 21
Trustees of the Social Security Trust Fund. 22
(d) C
ONFORMINGAMENDMENTS RELATED TOSO-23
CIALSECURITYTRUSTFUND.— 24
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(1) AMENDMENT TO SECTION HEADING .—The 1
section heading for section 201 of the Social Secu-2
rity Act is amended to read as follows: ‘‘
SOCIAL SE-3
CURITY TRUST FUND’’. 4
(2) B
OARD OF TRUSTEES .—Section 201(c) of 5
such Act, as amended by subsections (b) and (c)(1), 6
is further amended— 7
(A) in the matter preceding paragraph (1), 8
by striking ‘‘Board of Trustees of the Trust 9
Funds’’ and inserting ‘‘Board of Trustees of 10
the Trust Fund’’; 11
(B) in paragraph (1), by striking ‘‘Trust 12
Funds’’ and inserting ‘‘Trust Fund’’; 13
(C) in paragraph (2)— 14
(i) by striking ‘‘Trust Funds’’ and in-15
serting ‘‘Trust Fund’’; and 16
(ii) by striking ‘‘their’’ and inserting 17
‘‘its’’; 18
(D) in paragraph (3), by striking ‘‘either 19
of the Trust Funds’’ and inserting ‘‘the Trust 20
Fund’’; 21
(E) in paragraph (5)— 22
(i) by striking ‘‘managing the Trust 23
Funds’’ and inserting ‘‘managing the 24
Trust Fund’’; and 25
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(ii) by striking ‘‘Trust Funds are’’ 1
and inserting ‘‘Trust Fund is’’; 2
(F) in the matter following paragraph (5), 3
by striking ‘‘Trust Funds’’ each place it ap-4
pears and inserting ‘‘Trust Fund’’; and 5
(G) in the second sentence in the matter 6
following paragraph (5), by striking ‘‘whether 7
the Federal Old-Age and Survivors Insurance 8
Trust Fund and the Federal Disability Insur-9
ance Trust Fund, individually and collectively, 10
are’’ and inserting ‘‘whether the Social Security 11
Trust Fund is’’. 12
(3) I
NVESTMENTS.—Section 201 of such Act is 13
amended in subsections (d) and (e) by striking 14
‘‘Trust Funds’’ each place it appears and inserting 15
‘‘Trust Fund’’. 16
(4) C
REDITING OF INTEREST AND PROCEEDS 17
TO TRUST FUNDS .—Section 201(f) of such Act is 18
amended— 19
(A) by striking ‘‘the Federal Old-Age and 20
Survivors Insurance Trust Fund and the Fed-21
eral Disability Insurance Trust Fund shall be 22
credited to and form a part of the Federal Old- 23
Age and Survivors Insurance Trust Fund and 24
the Disability Insurance Trust Fund, respec-25
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tively’’ and inserting ‘‘the Social Security Trust 1
Fund shall be credited to and form a part of 2
the Social Security Trust Fund’’; 3
(B) by striking ‘‘either of the Trust 4
Funds’’ and inserting ‘‘the Trust Fund’’; and 5
(C) by striking ‘‘such Trust Fund’’ and in-6
serting ‘‘the Trust Fund’’. 7
(5) A
DMINISTRATIVE COSTS.—Section 201(g) of 8
such Act is amended— 9
(A) in paragraph (1)— 10
(i) in subparagraph (A), by striking 11
‘‘Of the amounts authorized to be made 12
available out of the Federal Old-Age and 13
Survivors Insurance Trust Fund and the 14
Federal Disability Insurance Trust Fund 15
under the preceding sentence’’ and all that 16
follows through ‘‘(Public Law 103–296).’’; 17
and 18
(ii) in subparagraph (B)(i)— 19
(I) by striking subclauses (II) 20
and (III) and inserting the following: 21
‘‘(II) the portion of such costs which 22
should have been borne by the Social Security 23
Trust Fund,’’; and 24
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(II) by redesignating subclauses 1
(IV) and (V) as subclauses (III) and 2
(IV); 3
(B) in paragraph (2)— 4
(i) by striking ‘‘Trust Funds’’ and in-5
serting ‘‘Trust Fund’’; and 6
(ii) by striking the last sentence; and 7
(C) in paragraph (4), by striking ‘‘Trust 8
Funds’’ each place it appears and inserting 9
‘‘Trust Fund’’. 10
(6) B
ENEFIT PAYMENTS .—Section 201(h) of 11
such Act is amended to read as follows: 12
‘‘(h) All benefit payments required to be made under 13
this title shall be made only from the Social Security Trust 14
Fund.’’. 15
(7) G
IFTS.—Section 201(i) of such Act is 16
amended— 17
(A) in paragraph (1), by striking ‘‘the 18
Federal Old-Age and Survivors Insurance Trust 19
Fund, the Federal Disability Insurance Trust 20
Fund’’ and inserting ‘‘the Social Security Trust 21
Fund’’; and 22
(B) in paragraph (2)(B), by striking ‘‘the 23
Federal Old-Age and Survivors Insurance Trust 24
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Fund’’ and inserting ‘‘the Social Security Trust 1
Fund’’. 2
(8) T
RAVEL EXPENSES.—Section 201(j) of such 3
Act is amended by striking ‘‘the Federal Old-Age 4
and Survivors Insurance Trust Fund, or the Federal 5
Disability Insurance Trust Fund (as determined ap-6
propriate by the Commissioner of Social Security)’’ 7
and inserting ‘‘the Social Security Trust Fund’’. 8
(9) D
EMONSTRATION PROJECTS .—Section 9
201(k) of such Act is amended by striking ‘‘the Fed-10
eral Disability Insurance Trust Fund and the Fed-11
eral Old-Age and Survivors Insurance Trust Fund, 12
as determined appropriate by the Commissioner of 13
Social Security’’ and inserting ‘‘the Social Security 14
Trust Fund’’. 15
(10) B
ENEFIT CHECKS.—Section 201(m) of 16
such Act is amended— 17
(A) in paragraph (2), by striking ‘‘each of 18
the Trust Funds’’ and inserting ‘‘the Social Se-19
curity Trust Fund’’; 20
(B) in paragraph (3), by striking ‘‘one of 21
the Trust Funds’’ and inserting ‘‘the Trust 22
Fund’’; and 23
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(C) by striking ‘‘such Trust Fund’’ each 1
place it appears and inserting ‘‘the Trust 2
Fund’’. 3
(11) C
ONFORMING REPEALS .— 4
(A) I
N GENERAL.—Section 201 of such 5
Act is amended by striking subsections (b), (l), 6
and (n). 7
(B) R
EDESIGNATIONS.—Section 201 of 8
such Act is further amended— 9
(i) by redesignating subsections (c) 10
through (j) as subsections (b) through (i), 11
respectively; 12
(ii) by redesignating subsection (k) as 13
subsection (j); and 14
(iii) by redesignating subsection (m) 15
as subsection (k). 16
(C) R
EFERENCES TO REDESIGNATED SEC -17
TIONS.— 18
(i) Section 201(a) of such Act, as 19
amended by subsection (a) of this section, 20
is further amended— 21
(I) by striking ‘‘subsection 22
(i)(1)’’ and inserting ‘‘subsection 23
(h)(1)’’; and 24
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(II) by striking ‘‘subsection (d)’’ 1
and inserting ‘‘subsection (c)’’. 2
(ii) Section 1131(b)(1) of such Act is 3
amended by striking ‘‘section 201(g)(1)’’ 4
and inserting ‘‘section 201(f)(1)’’. 5
(e) O
THERCONFORMINGAMENDMENTS TO SOCIAL 6
S
ECURITYACT.— 7
(1) T
ITLE II.—Title II of the Social Security 8
Act (42 U.S.C. 401 et seq.) is amended— 9
(A) in section 202(x)(3)(B)(iii), by striking 10
‘‘the Federal Old-Age and Survivors Insurance 11
Trust Fund and the Federal Disability Insur-12
ance Trust Fund, as appropriate,’’ and insert-13
ing ‘‘the Social Security Trust Fund’’; 14
(B) in section 206(d)(5), by striking ‘‘the 15
Federal Old-Age and Survivors Insurance Trust 16
Fund and the Federal Disability Insurance 17
Trust Fund, as appropriate’’ and inserting ‘‘the 18
Social Security Trust Fund’’; 19
(C) in section 206(e)(3)(B), by striking 20
‘‘the Federal Old-Age and Survivors Insurance 21
Trust Fund and the Federal Disability Insur-22
ance Trust Fund’’ and inserting ‘‘the Social Se-23
curity Trust Fund’’; 24
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(D) in section 208(b)(5)(A), by striking 1
‘‘the Federal Old-Age and Survivors Insurance 2
Trust Fund, or the Federal Disability Insur-3
ance Trust Fund, as appropriate’’ and inserting 4
‘‘the Social Security Trust Fund’’; 5
(E) in section 215(i)(1)(F)— 6
(i) in clause (i)— 7
(I) by striking ‘‘the combined 8
balance in the Federal Old-Age and 9
Survivors Insurance Trust Fund and 10
the Federal Disability Insurance 11
Trust Fund’’ and inserting ‘‘the bal-12
ance in the Social Security Trust 13
Fund’’; and 14
(II) by striking ‘‘and reduced by 15
the outstanding amount of any loan 16
(including interest thereon) thereto-17
fore made to either such Fund from 18
the Federal Hospital Insurance Trust 19
Fund under section 201(l)’’; and 20
(ii) in clause (ii)— 21
(I) by striking ‘‘the Federal Old- 22
Age and Survivors Insurance Trust 23
Fund and the Federal Disability In-24
surance Trust Fund’’ and inserting 25
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‘‘the Social Security Trust Fund’’; 1
and 2
(II) by striking ‘‘(other than pay-3
ments’’ and all that follows through 4
‘‘from that Account’’; 5
(F) in section 217(g)(2), by inserting after 6
the first sentence the following: ‘‘For purposes 7
of any such revision of the amount determined 8
under paragraph (1) that occurs in a year that 9
begins after the year in which the Social Secu-10
rity Expansion Act is enacted, any reference in 11
such paragraph to the Federal Old-Age and 12
Survivors Insurance Trust Fund or the Federal 13
Disability Insurance Trust Fund shall be 14
deemed to be a reference to the Social Security 15
Trust Fund.’’; 16
(G) in section 221(e)— 17
(i) by striking ‘‘Trust Funds’’ each 18
place it appears and inserting ‘‘Trust 19
Fund’’; and 20
(ii) by striking the last sentence; 21
(H) in section 221(f), by striking ‘‘Trust 22
Funds’’ and inserting ‘‘Trust Fund’’; 23
(I) in section 222(d)— 24
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(i) in the section heading, by striking 1
‘‘T
RUSTFUNDS’’ and inserting ‘‘TRUST 2
F
UND’’; 3
(ii) in paragraph (1), by striking ‘‘to 4
the end that savings will accrue to the 5
Trust Funds as a result of rehabilitating 6
such individuals, there are authorized to be 7
transferred from the Federal Old-Age and 8
Survivors Insurance Trust Fund and the 9
Federal Disability Insurance Trust Fund’’ 10
and inserting ‘‘to the end that savings will 11
accrue to the Trust Fund as a result of re-12
habilitating such individuals, there are au-13
thorized to be transferred from the Social 14
Security Trust Fund’’; and 15
(iii) by amending paragraph (4) to 16
read as follows: 17
‘‘(4) The Commissioner of Social Security shall deter-18
mine according to such methods and procedures as the 19
Commissioner may deem appropriate the total amount to 20
be reimbursed for the cost of services under this sub-21
section.’’; 22
(J) in section 228(g)— 23
(i) in the section heading, by striking 24
‘‘F
EDERALOLD-AGE ANDSURVIVORSIN-25
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SURANCETRUSTFUND’’ and inserting 1
‘‘S
OCIALSECURITYTRUSTFUND’’; and 2
(ii) in the matter preceding paragraph 3
(1), by striking ‘‘Federal Old-Age and Sur-4
vivors Insurance Trust Fund’’ and insert-5
ing ‘‘Social Security Trust Fund’’; 6
(K) in section 231(c), by striking ‘‘Trust 7
Funds’’ each place it appears and inserting 8
‘‘Trust Fund’’; and 9
(L) in section 234(a)(1), by striking 10
‘‘Trust Funds’’ and inserting ‘‘Trust Fund’’. 11
(2) T
ITLE VII.—Title VII of the Social Security 12
Act (42 U.S.C. 901 et seq.) is amended— 13
(A) in section 703(j), by striking ‘‘Federal 14
Disability Insurance Trust Fund, the Federal 15
Old-Age and Survivors Insurance Trust Fund,’’ 16
and inserting ‘‘Social Security Trust Fund’’; 17
(B) in section 708(c), by striking ‘‘the 18
‘OASDI trust fund ratio’ under section 201(l),’’ 19
after ‘‘computing’’; 20
(C) in section 709— 21
(i) in subsection (a), by striking ‘‘Fed-22
eral Old-Age and Survivors Insurance 23
Trust Fund and the Federal Disability In-24
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surance Trust Fund’’ and inserting ‘‘Social 1
Security Trust Fund’’; and 2
(ii) in subsection (b)— 3
(I) in paragraph (1), by striking 4
‘‘section 201(l) or’’; and 5
(II) in paragraph (2), by striking 6
‘‘Federal Old-Age and Survivors In-7
surance Trust Fund and the Federal 8
Disability Insurance Trust Fund’’ and 9
inserting ‘‘Social Security Trust 10
Fund’’; and 11
(D) in section 710— 12
(i) in subsection (a), by striking ‘‘Fed-13
eral Old-Age and Survivors Insurance 14
Trust Fund and the Federal Disability In-15
surance Trust Fund’’ and inserting ‘‘Social 16
Security Trust Fund’’; and 17
(ii) in subsection (b)— 18
(I) by striking ‘‘any Trust Fund 19
specified in subsection (a)’’ and in-20
serting ‘‘the Social Security Trust 21
Fund’’; and 22
(II) by striking ‘‘payments from 23
any such Trust Fund’’ and inserting 24
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‘‘payments from the Social Security 1
Trust Fund’’. 2
(3) T
ITLE XI.—Title XI of the Social Security 3
Act (42 U.S.C. 1301 et seq.) is amended— 4
(A) in section 1106(b), by striking ‘‘the 5
Federal Old-Age and Survivors Insurance Trust 6
Fund, the Federal Disability Insurance Trust 7
Fund’’ and inserting ‘‘the Social Security Trust 8
Fund’’; 9
(B) in section 1129(e)(2)(A), by striking 10
‘‘the Federal Old-Age and Survivors Insurance 11
Trust Fund or the Federal Disability Insurance 12
Trust Fund, as determined appropriate by the 13
Secretary’’ and inserting ‘‘the Social Security 14
Trust Fund’’; 15
(C) in sections 1131(b)(2) and 1140(c)(2), 16
by striking ‘‘the Federal Old-Age and Survivors 17
Insurance Trust Fund’’ and inserting ‘‘the So-18
cial Security Trust Fund’’; 19
(D) in section 1145(c)— 20
(i) by striking paragraphs (1) and (2) 21
and inserting the following: 22
‘‘(1) the Social Security Trust Fund;’’; and 23
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(ii) by redesignating paragraphs (3) 1
and (4) as paragraphs (2) and (3), respec-2
tively; and 3
(E) in section 1148(j)(1)(A)— 4
(i) in the first sentence, by striking 5
‘‘the Federal Old-Age and Survivors Insur-6
ance Trust Fund and the Federal Dis-7
ability Insurance Trust Fund’’ and insert-8
ing ‘‘the Social Security Trust Fund’’; and 9
(ii) by striking the second sentence. 10
(4) T
ITLE XVIII.—Title XVIII of the Social Se-11
curity Act (42 U.S.C. 1395) is amended— 12
(A) in section 1817(g), by striking ‘‘Fed-13
eral Old-Age and Survivors Insurance Trust 14
Fund and from the Federal Disability Insur-15
ance Trust Fund’’ and inserting ‘‘Social Secu-16
rity Trust Fund’’; 17
(B) in section 1840(a)(2), by striking 18
‘‘Federal Old-Age and Survivors Insurance 19
Trust Fund or the Federal Disability Insurance 20
Trust Fund’’ and inserting ‘‘Social Security 21
Trust Fund’’; and 22
(C) in section 1841(f), by striking ‘‘Fed-23
eral Old-Age and Survivors Insurance Trust 24
Fund and from the Federal Disability Insur-25
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ance Trust Fund’’ and inserting ‘‘Social Secu-1
rity Trust Fund’’. 2
(f) C
ONFORMINGAMENDMENTSOUTSIDE OFSOCIAL 3
S
ECURITYACT.— 4
(1) B
UDGET.— 5
(A) O
FF-BUDGET EXEMPTION .—Section 6
405(a) of the Congressional Budget Act of 7
1974 (2 U.S.C. 655(a)) is amended by striking 8
‘‘Federal Old-Age and Survivors Insurance and 9
Federal Disability Insurance Trust Funds’’ and 10
inserting ‘‘Social Security Trust Fund’’. 11
(B) S
EQUESTRATION EXEMPTION .—Sec-12
tion 255(g)(1)(A) of the Balanced Budget and 13
Emergency Deficit Control Act of 1985 (2 14
U.S.C. 905(g)(1)(A)) is amended by striking 15
‘‘Payments to Social Security Trust Funds’’ 16
and inserting ‘‘Payments to the Social Security 17
Trust Fund’’. 18
(2) T
AX.— 19
(A) T
AXABLE WAGES.—Section 3121(l)(4) 20
of the Internal Revenue Code of 1986 is 21
amended by striking ‘‘Federal Old-Age and 22
Survivors Insurance Trust Fund and the Fed-23
eral Disability Insurance Trust Fund’’ and in-24
serting ‘‘Social Security Trust Fund’’. 25
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(B) OVERPAYMENTS.— 1
(i) Section 6402(d)(3)(C) of the Inter-2
nal Revenue Code of 1986 is amended by 3
striking ‘‘Federal Old-Age and Survivors 4
Insurance Trust Fund or the Federal Dis-5
ability Insurance Trust Fund, whichever is 6
certified to the Secretary as appropriate by 7
the Commissioner of Social Security’’ and 8
inserting ‘‘Social Security Trust Fund’’. 9
(ii) Subsection (f)(2)(B) of section 10
3720A of title 31, United States Code, is 11
amended by striking ‘‘Federal Old-Age and 12
Survivors Insurance Trust Fund or the 13
Federal Disability Insurance Trust Fund, 14
whichever is certified to the Secretary of 15
the Treasury as appropriate by the Com-16
missioner of Social Security’’ and inserting 17
‘‘Social Security Trust Fund’’. 18
(3) F
ALSE CLAIMS PENALTIES .—Subsection 19
(g)(2) of section 3806 of title 31, United States 20
Code, is amended— 21
(A) in subparagraph (B)— 22
(i) by striking ‘‘Secretary of Health 23
and Human Services’’ and inserting ‘‘Com-24
missioner of Social Security’’; and 25
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(ii) by striking ‘‘Federal Old-Age and 1
Survivors Insurance Trust Fund’’ and in-2
serting ‘‘Social Security Trust Fund’’; and 3
(B) in subparagraph (C)— 4
(i) by striking ‘‘Secretary of Health 5
and Human Services’’ and inserting ‘‘Com-6
missioner of Social Security’’; and 7
(ii) by striking ‘‘Federal Disability In-8
surance Trust Fund’’ and inserting ‘‘Social 9
Security Trust Fund’’. 10
(4) R
AILROAD RETIREMENT BOARD .—Section 7 11
of the Railroad Retirement Act of 1974 (45 U.S.C. 12
231f) is amended— 13
(A) in subsection (b)(2), by striking ‘‘Fed-14
eral Old-Age and Survivors Insurance Trust 15
Fund and the Federal Disability Insurance 16
Trust Fund’’ and inserting ‘‘Social Security 17
Trust Fund’’; 18
(B) in subsection (c)(2)— 19
(i) by striking ‘‘Secretary of Health, 20
Education, and Welfare’’ each time it ap-21
pears and inserting ‘‘Commissioner of So-22
cial Security’’; and 23
(ii) by striking ‘‘Federal Old-Age and 24
Survivors Insurance Trust Fund, the Fed-25
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eral Disability Insurance Trust Fund,’’ 1
each time it appears and inserting ‘‘Social 2
Security Trust Fund’’; and 3
(C) in subsection (c)(4), by striking ‘‘Fed-4
eral Old-Age and Survivors Insurance Trust 5
Fund, the Federal Disability Insurance Trust 6
Fund,’’ and inserting ‘‘Social Security Trust 7
Fund’’. 8
(g) R
ULE OFCONSTRUCTION.—Effective beginning 9
on January 1 of the first calendar year beginning after 10
the date of the enactment of this section, any reference 11
in law to the ‘‘Federal Old-Age and Survivors Insurance 12
Trust Fund’’ or the ‘‘Federal Disability Insurance Trust 13
Fund’’ is deemed to be a reference to the Social Security 14
Trust Fund. 15
(h) E
FFECTIVEDATE.—The amendments made by 16
this section shall take effect on January 1 of the first cal-17
endar year beginning after the date of the enactment of 18
this section. 19
Æ
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