Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1700 Compare Versions

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Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 1700
5	5	To enhance Social Security benefits and ensure the long-term solvency of
6	6	the Social Security program.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	FEBRUARY27, 2025
9	9	Ms. H
10	10	OYLEof Oregon (for herself, Ms. SCHAKOWSKY, Mr. CARTERof Lou-
11	11	isiana, Mr. C
12	12	ASAR, Ms. CHU, Mr. COHEN, Mr. DELUZIO, Ms. LOIS
13	13	F
14	14	RANKELof Florida, Ms. JAYAPAL, Mr. KHANNA, Mr. MCGOVERN, Ms.
15	15	M
16	16	OOREof Wisconsin, Mr. NADLER, Ms. NORTON, Ms. PINGREE, Mr.
17	17	P
18	18	OCAN, Mrs. RAMIREZ, Ms. SALINAS, Ms. TLAIB, and Ms. TOKUDA) in-
19	19	troduced the following bill; which was referred to the Committee on Ways
20	20	and Means, and in addition to the Committees on Education and Work-
21	21	force, and Transportation and Infrastructure, for a period to be subse-
22	22	quently determined by the Speaker, in each case for consideration of such
23	23	provisions as fall within the jurisdiction of the committee concerned
24	24	A BILL
25	25	To enhance Social Security benefits and ensure the long-
26	26	term solvency of the Social Security program.
27	27	Be it enacted by the Senate and House of Representa-1
28	28	tives of the United States of America in Congress assembled, 2
29	29	SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 3
30	30	(a) S
31	31	HORTTITLE.—This Act may be cited as the 4
32	32	‘‘Social Security Expansion Act’’. 5
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36	36	(b) TABLE OFCONTENTS.—The table of contents of 1
37	37	this Act is as follows: 2
38	38	Sec. 1. Short title; table of contents.
39	39	Sec. 2. Across-the-board benefit increase.
40	40	Sec. 3. Computation of cost-of-living increases.
41	41	Sec. 4. Increase in minimum benefit for lifetime low earners based on years in
42	42	the workforce.
43	43	Sec. 5. Extended benefit eligibility for children who are full-time students.
44	44	Sec. 6. Payroll tax on remuneration up to contribution and benefit base and
45	45	more than $250,000.
46	46	Sec. 7. Tax on net earnings from self-employment up to contribution and ben-
47	47	efit base and more than $250,000.
48	48	Sec. 8. Tax on investment gain.
49	49	Sec. 9. Social Security Trust Fund established.
50	50	SEC. 2. ACROSS-THE-BOARD BENEFIT INCREASE.
51	51	3
52	52	(a) I
53	53	NCREASE OF FIRSTBENDPOINTPERCENT-4
54	54	AGE.—Section 215(a)(1)(A)(i) of the Social Security Act 5
55	55	(42 U.S.C. 415(a)(1)(A)(i)) is amended by striking ‘‘90 6
56	56	percent’’ and inserting ‘‘95 percent’’. 7
57	57	(b) A
58	58	DJUSTMENTTOBENDPOINTAMOUNT.— 8
59	59	(1) I
60	60	N GENERAL.—Section 215(a)(1)(B) of the 9
61	61	Social Security Act (42 U.S.C. 415(a)(1)(B)) is 10
62	62	amended— 11
63	63	(A) by redesignating clause (iii) as clause 12
64	64	(iv); and 13
65	65	(B) by inserting after clause (ii) the fol-14
66	66	lowing new clause: 15
67	67	‘‘(iii) For an individual who is eligible for an 16
68	68	old-age or disability insurance benefit (or who dies 17
69	69	before becoming eligible for such a benefit) in any 18
70	70	calendar year after 2025, the amount determined for 19
71	71	the individual under clause (ii) of this subparagraph 20
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75	75	for purposes of subparagraph (A)(i)(I) shall be in-1
76	76	creased by 18 percent.’’. 2
77	77	(2) C
78	78	ONFORMING AMENDMENT .—Clause (iv) of 3
79	79	section 215(a)(1)(B) of the Social Security Act (42 4
80	80	U.S.C. 415(a)(1)(B)), as redesignated by paragraph 5
81	81	(1), is amended by inserting ‘‘(after the application 6
82	82	of clause (iii), when applicable)’’ after ‘‘clause (ii)’’. 7
83	83	(c) E
84	84	FFECTIVEDATE.— 8
85	85	(1) I
86	86	N GENERAL.—The amendments made by 9
87	87	this section shall take effect on January 1, 2026, 10
88	88	and shall apply with respect to monthly insurance 11
89	89	benefits payable under title II of the Social Security 12
90	90	Act (42 U.S.C. 401 et seq.) for months in calendar 13
91	91	years beginning on or after such date. 14
92	92	(2) R
93	93	ECOMPUTATION OF PRIMARY INSURANCE 15
94	94	AMOUNTS.— 16
95	95	(A) I
96	96	N GENERAL.—Notwithstanding sec-17
97	97	tion 215(f) of the Social Security Act (42 18
98	98	U.S.C. 415(f)), the Commissioner of Social Se-19
99	99	curity shall recompute primary insurance 20
100	100	amounts to the extent necessary to carry out 21
101	101	the amendments to this section. 22
102	102	(B) R
103	103	ULE OF APPLICATION .—In recom-23
104	104	puting the primary insurance amount of an in-24
105	105	dividual who initially became eligible for old-age 25
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109	109	or disability insurance benefits before January 1
110	110	1, 2026, the Commissioner of Social Security 2
111	111	shall apply the increase described in clause (iii) 3
112	112	of section 215(a)(1)(B) of the Social Security 4
113	113	Act (as added by subsection (b)(1)(B)) to the 5
114	114	amount determined under clause (ii) of such 6
115	115	section 215(a)(1)(B) for the calendar year in 7
116	116	which the individual initially became eligible for 8
117	117	such benefits. 9
118	118	SEC. 3. COMPUTATION OF COST-OF-LIVING INCREASES. 10
119	119	(a) I
120	120	NGENERAL.—Section 215(i)(1) of the Social Se-11
121	121	curity Act (42 U.S.C. 415(i)(1)) is amended by adding 12
122	122	at the end the following new subparagraph: 13
123	123	‘‘(H) the term ‘Consumer Price Index’ means 14
124	124	the Consumer Price Index for Elderly Consumers 15
125	125	(CPI–E, as published by the Bureau of Labor Sta-16
126	126	tistics of the Department of Labor).’’. 17
127	127	(b) A
128	128	PPLICATION TOPRE-1979 LAW.— 18
129	129	(1) I
130	130	N GENERAL.—Section 215(i)(1) of the So-19
131	131	cial Security Act as in effect in December 1978, and 20
132	132	as applied in certain cases under the provisions of 21
133	133	such Act as in effect after December 1978, is 22
134	134	amended by adding at the end the following new 23
135	135	subparagraph: 24
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139	139	‘‘(D) the term ‘Consumer Price Index’ means 1
140	140	the Consumer Price Index for Elderly Consumers 2
141	141	(CPI–E, as published by the Bureau of Labor Sta-3
142	142	tistics of the Department of Labor).’’. 4
143	143	(2) C
144	144	ONFORMING CHANGE .—Section 215(i)(4) 5
145	145	of the Social Security Act (42 U.S.C. 415(i)(4)) is 6
146	146	amended— 7
147	147	(A) by striking ‘‘and by section 9001’’ and 8
148	148	inserting ‘‘, section 9001’’; and 9
149	149	(B) by inserting ‘‘and section 3 of the So-10
150	150	cial Security Expansion Act,’’ after ‘‘1986,’’. 11
151	151	(c) N
152	152	OEFFECT ONADJUSTMENTSUNDEROTHER 12
153	153	L
154	154	AWS.—Section 215(i) of the Social Security Act (42 13
155	155	U.S.C. 415(i)) is amended by adding at the end the fol-14
156	156	lowing: 15
157	157	‘‘(6) Any provision of law (other than in this title, 16
158	158	title VIII, or title XVI) which provides for adjustment of 17
159	159	an amount based on a change in benefit amounts resulting 18
160	160	from a determination made under this subsection shall be 19
161	161	applied and administered without regard to the amend-20
162	162	ments made by section 3 of the Social Security Expansion 21
163	163	Act, and, for purposes of making such an adjustment 22
164	164	under such a provision, this subsection as in effect on the 23
165	165	day before the date of enactment of such Act shall con-24
166	166	tinue to apply.’’. 25
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170	170	(d) PUBLICATION OFCONSUMERPRICEINDEX FOR 1
171	171	E
172	172	LDERLYCONSUMERS.—The Bureau of Labor Statistics 2
173	173	of the Department of Labor shall prepare and publish the 3
174	174	index authorized by section 191 of the Older Americans 4
175	175	Amendments Act of 1987 (29 U.S.C. 2 note) for each cal-5
176	176	endar month, beginning with July of the calendar year fol-6
177	177	lowing the calendar year in which this Act is enacted, and 7
178	178	such index shall be known as the ‘‘Consumer Price Index 8
179	179	for Elderly Consumers’’. 9
180	180	(e) E
181	181	FFECTIVEDATE.—The amendments made by 10
182	182	subsection (a) shall apply to determinations made with re-11
183	183	spect to cost-of-living computation quarters (as defined in 12
184	184	section 215(i)(1)(B) of the Social Security Act (42 U.S.C. 13
185	185	415(i)(1)(B))) ending on or after September 30 of the sec-14
186	186	ond calendar year following the calendar year in which this 15
187	187	Act is enacted. 16
188	188	SEC. 4. INCREASE IN MINIMUM BENEFIT FOR LIFETIME 17
189	189	LOW EARNERS BASED ON YEARS IN THE 18
190	190	WORKFORCE. 19
191	191	(a) I
192	192	NGENERAL.—Section 215(a)(1) of the Social 20
193	193	Security Act (42 U.S.C. 415(a)(1)) is amended— 21
194	194	(1) by redesignating subparagraph (D) as sub-22
195	195	paragraph (E); and 23
196	196	(2) by inserting after subparagraph (C) the fol-24
197	197	lowing new subparagraph: 25
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201	201	‘‘(D)(i) Effective with respect to the benefits of indi-1
202	202	viduals who become eligible for old-age insurance benefits 2
203	203	or disability insurance benefits (or die before becoming so 3
204	204	eligible) after 2025, no primary insurance amount com-4
205	205	puted under subparagraph (A) may be less than the great-5
206	206	er of— 6
207	207	‘‘(I) the minimum monthly amount computed 7
208	208	under subparagraph (C); or 8
209	209	‘‘(II) in the case of an individual who has more 9
210	210	than 10 years of work (as defined in clause (iv)(I)), 10
211	211	the alternative minimum amount determined under 11
212	212	clause (ii). 12
213	213	‘‘(ii)(I) The alternative minimum amount determined 13
214	214	under this clause is the applicable percentage of
215	215	1
216	216	⁄12of 14
217	217	the annual dollar amount determined under clause (iii) for 15
218	218	the year in which the amount is determined. 16
219	219	‘‘(II) For purposes of subclause (I), the applicable 17
220	220	percentage is the percentage specified in connection with 18
221	221	the number of years of work, as set forth in the following 19
222	222	table: 20
223	223	‘‘If the number of years The applicable
224	224	of work is: percentage is:
225	225	11 ...................................................................................... 6.25 percent
226	226	12 ...................................................................................... 12.50 percent
227	227	13 ...................................................................................... 18.75 percent
228	228	14 ...................................................................................... 25.00 percent
229	229	15 ...................................................................................... 31.25 percent
230	230	16 ...................................................................................... 37.50 percent
231	231	17 ...................................................................................... 43.75 percent
232	232	18 ...................................................................................... 50.00 percent
233	233	19 ...................................................................................... 56.25 percent
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237	237	‘‘If the number of years The applicable
238	238	of work is: percentage is:
239	239	20 ...................................................................................... 62.50 percent
240	240	21 ...................................................................................... 68.75 percent
241	241	22 ...................................................................................... 75.00 percent
242	242	23 ...................................................................................... 81.25 percent
243	243	24 ...................................................................................... 87.50 percent
244	244	25 ...................................................................................... 93.75 percent
245	245	26 ...................................................................................... 100.00 percent
246	246	27 ...................................................................................... 106.25 percent
247	247	28 ...................................................................................... 112.50 percent
248	248	29 ...................................................................................... 118.75 percent
249	249	30 or more ........................................................................ 125.00 percent.
250	250	‘‘(iii) The annual dollar amount determined under 1
251	251	this clause is— 2
252	252	‘‘(I) for calendar year 2026, the poverty guide-3
253	253	line for 2025; and 4
254	254	‘‘(II) for any calendar year after 2026, the an-5
255	255	nual dollar amount for 2026 multiplied by the ratio 6
256	256	of— 7
257	257	‘‘(aa) the national average wage index (as 8
258	258	defined in section 209(k)(1)) for the second cal-9
259	259	endar year preceding the calendar year for 10
260	260	which the determination is made, to 11
261	261	‘‘(bb) the national average wage index (as 12
262	262	so defined) for 2024. 13
263	263	‘‘(iv) For purposes of this subparagraph— 14
264	264	‘‘(I) the term ‘year of work’ means, with re-15
265	265	spect to an individual, a year to which 4 quarters of 16
266	266	coverage have been credited based on such individ-17
267	267	ual’s wages and self-employment income; and 18
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271	271	‘‘(II) the term ‘poverty guideline for 2025’ 1
272	272	means the annual poverty guideline for 2025 (as up-2
273	273	dated annually in the Federal Register by the De-3
274	274	partment of Health and Human Services under the 4
275	275	authority of section 673(2) of the Omnibus Budget 5
276	276	Reconciliation Act of 1981) as applicable to a single 6
277	277	individual.’’. 7
278	278	(b) R
279	279	ECOMPUTATION.—Notwithstanding section 8
280	280	215(f)(1) of the Social Security Act, the Commissioner of 9
281	281	Social Security shall recompute primary insurance 10
282	282	amounts originally computed for months prior to Novem-11
283	283	ber 2025 to the extent necessary to carry out the amend-12
284	284	ments made by this section. 13
285	285	(c) C
286	286	ONFORMINGAMENDMENT.—Section 209(k)(1) 14
287	287	of such Act (42 U.S.C. 409(k)(1)) is amended by inserting 15
288	288	‘‘215(a)(1)(E),’’ after ‘‘215(a)(1)(D),’’. 16
289	289	SEC. 5. EXTENDED BENEFIT ELIGIBILITY FOR CHILDREN 17
290	290	WHO ARE FULL-TIME STUDENTS. 18
291	291	(a) I
292	292	NGENERAL.— 19
293	293	(1) I
294	294	N GENERAL.—Section 202(d) of the Social 20
295	295	Security Act (42 U.S.C. 402(d)) is amended— 21
296	296	(A) in paragraph (1)— 22
297	297	(i) in subparagraph (B)— 23
298	298	(I) by striking ‘‘or (ii)’’ and in-24
299	299	serting ‘‘(ii)’’; and 25
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303	303	(II) by inserting ‘‘or (iii) was the 1
304	304	child of an individual entitled to dis-2
305	305	ability insurance benefits or of an in-3
306	306	dividual who dies a fully or currently 4
307	307	insured individual and was a full-time 5
308	308	student at an educational institution 6
309	309	and had not attained the age of 22,’’ 7
310	310	after ‘‘22,’’; 8
311	311	(ii) in subparagraph (E)— 9
312	312	(I) by striking ‘‘and (ii)’’ and in-10
313	313	serting ‘‘(ii)’’; and 11
314	314	(II) by inserting ‘‘and (iii) is not 12
315	315	a full-time student at an educational 13
316	316	institution during any part of such 14
317	317	month (in the case of a child who is 15
318	318	the child of an individual entitled to 16
319	319	disability insurance benefits or of an 17
320	320	individual who dies a fully or cur-18
321	321	rently insured individual)’’ before the 19
322	322	comma at the end; 20
323	323	(iii) in subparagraph (F), by striking 21
324	324	clauses (i) and (ii) and inserting the fol-22
325	325	lowing: 23
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329	329	‘‘(i) in the case of a child who is the child 1
330	330	of an individual entitled to old-age insurance 2
331	331	benefits— 3
332	332	‘‘(I) the first month during no part of 4
333	333	which the child is a full-time elementary or 5
334	334	secondary school student, or 6
335	335	‘‘(II) the month in which the child at-7
336	336	tains the age of 19, and 8
337	337	‘‘(ii) in the case of a child who is the child 9
338	338	of an individual entitled to disability insurance 10
339	339	benefits or of an individual who dies a fully or 11
340	340	currently insured individual— 12
341	341	‘‘(I) the first month during no part of 13
342	342	which the child is a full-time student at an 14
343	343	educational institution, or 15
344	344	‘‘(II) the month in which the child at-16
345	345	tains the age of 22,’’; and 17
346	346	(iv) in subparagraph (G), by striking 18
347	347	clauses (ii) and (iii) and inserting the fol-19
348	348	lowing: 20
349	349	‘‘(ii) in the case of a child who is the child 21
350	350	of an individual entitled to old-age insurance 22
351	351	benefits— 23
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355	355	‘‘(I) the first month during no part of 1
356	356	which the child is a full-time elementary or 2
357	357	secondary school student, or 3
358	358	‘‘(II) the month in which the child at-4
359	359	tains the age of 19, and 5
360	360	‘‘(iii) in the case of a child who is the child 6
361	361	of an individual entitled to disability insurance 7
362	362	benefits or of an individual who dies a fully or 8
363	363	currently insured individual— 9
364	364	‘‘(I) the first month during no part of 10
365	365	which the child is a full-time student at an 11
366	366	educational institution, or 12
367	367	‘‘(II) the month in which the child at-13
368	368	tains the age of 22,’’; 14
369	369	(B) in paragraph (6)— 15
370	370	(i) in subparagraph (A)— 16
371	371	(I) by striking ‘‘or (ii)’’ and in-17
372	372	serting ‘‘(ii)’’; and 18
373	373	(II) by inserting ‘‘or (iii) is the 19
374	374	child of an individual entitled to dis-20
375	375	ability insurance benefits or of an in-21
376	376	dividual who dies a fully or currently 22
377	377	insured individual and is a full-time 23
378	378	student at an educational institution 24
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382	382	and has not attained the age of 22,’’ 1
383	383	after ‘‘22,’’; and 2
384	384	(ii) by striking subparagraphs (D) 3
385	385	and (E) and inserting the following: 4
386	386	‘‘(D) the earlier of— 5
387	387	‘‘(i) in the case of a child who is the child 6
388	388	of an individual entitled to old-age insurance 7
389	389	benefits— 8
390	390	‘‘(I) the first month during no part of 9
391	391	which the child is a full-time elementary or 10
392	392	secondary school student; or 11
393	393	‘‘(II) the month in which the child at-12
394	394	tains the age of 19; and 13
395	395	‘‘(ii) in the case of a child who is the child 14
396	396	of an individual entitled to disability insurance 15
397	397	benefits or of an individual who dies a fully or 16
398	398	currently insured individual— 17
399	399	‘‘(I) the first month during no part of 18
400	400	which the child is a full-time student at an 19
401	401	educational institution; or 20
402	402	‘‘(II) the month in which the child at-21
403	403	tains the age of 22, 22
404	404	but only if the child is not under a disability (as 23
405	405	so defined) in such earlier month; or 24
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409	409	‘‘(E) if the child was under a disability (as so 1
410	410	defined), the termination month (as defined in para-2
411	411	graph (1)(G)(i)), subject to section 223(e), or (if 3
412	412	later) the earlier of— 4
413	413	‘‘(i) in the case of a child who is the child 5
414	414	of an individual entitled to old-age insurance 6
415	415	benefits— 7
416	416	‘‘(I) the first month during no part of 8
417	417	which the child is a full-time elementary or 9
418	418	secondary school student; or 10
419	419	‘‘(II) the month in which the child at-11
420	420	tains the age of 19; and 12
421	421	‘‘(ii) in the case of a child who is the child 13
422	422	of an individual entitled to disability insurance 14
423	423	benefits or of an individual who dies a fully or 15
424	424	currently insured individual— 16
425	425	‘‘(I) the first month during no part of 17
426	426	which the child is a full-time student at an 18
427	427	educational institution; or 19
428	428	‘‘(II) the month in which the child at-20
429	429	tains the age of 22.’’; and 21
430	430	(C) in paragraph (7), by adding at the end 22
431	431	the following new paragraphs: 23
432	432	‘‘(E) The term ‘full-time student at an edu-24
433	433	cational institution’ means an individual who is in 25
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437	437	full-time attendance as a student at an elementary 1
438	438	school (but only in the case of an individual who has 2
439	439	not attained the age of 19) or a secondary school or 3
440	440	an institution described in section 102 of the Higher 4
441	441	Education Act of 1965 (20 U.S.C. 1002), as deter-5
442	442	mined by the Commissioner of Social Security (in 6
443	443	accordance with regulations prescribed by the Com-7
444	444	missioner) in the light of the standards and prac-8
445	445	tices of the schools and institutions involved, except 9
446	446	that no individual shall be considered a ‘full-time 10
447	447	student at an educational institution’ if the indi-11
448	448	vidual is paid by his employer while attending a 12
449	449	school or institution at the request, or pursuant to 13
450	450	a requirement, of his employer. An individual shall 14
451	451	not be considered a ‘full-time student at an edu-15
452	452	cational institution’ for the purpose of this section 16
453	453	while that individual is confined in a jail, prison, or 17
454	454	other penal institution or correctional facility, pursu-18
455	455	ant to the individual’s conviction of an offense (com-19
456	456	mitted after the effective date of this sentence) 20
457	457	which constituted a felony under applicable law. An 21
458	458	individual who is determined to be a full-time stu-22
459	459	dent at an educational institution shall be deemed to 23
460	460	be such a student throughout the month with re-24
461	461	spect to which such determination is made. 25
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464	464	•HR 1700 IH
465	465	‘‘(F) Except to the extent provided in such reg-1
466	466	ulations, an individual shall be deemed to be a full- 2
467	467	time student at a school or educational institution 3
468	468	during any period of nonattendance at a school or 4
469	469	institution at which he has been in full-time attend-5
470	470	ance if (i) such period is 4 calendar months or less, 6
471	471	and (ii) the individual shows to the satisfaction of 7
472	472	the Commissioner of Social Security that the indi-8
473	473	vidual intends to continue to be in full-time attend-9
474	474	ance at a secondary school or institution described 10
475	475	in section 102 of the Higher Education Act of 1965 11
476	476	(20 U.S.C. 1002) immediately following such period. 12
477	477	An individual who does not meet the requirement of 13
478	478	clause (ii) with respect to such period of nonattend-14
479	479	ance shall be deemed to have met such requirement 15
480	480	(as of the beginning of such period) if he is in full- 16
481	481	time attendance at such a school or institution im-17
482	482	mediately following such period. 18
483	483	‘‘(G) A child who attains age 22 at a time when 19
484	484	the child is a full-time student of an educational in-20
485	485	stitution (as defined in subparagraph (E) and with-21
486	486	out application of subparagraph (F)) but has not (at 22
487	487	such time) completed the requirements for, or re-23
488	488	ceived, a diploma or equivalent certificate from a 24
489	489	secondary school (as defined in subparagraph (C)(i)) 25
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492	492	•HR 1700 IH
493	493	or, if such child is a student at an educational insti-1
494	494	tution described in section 102 of the Higher Edu-2
495	495	cation Act of 1965, a diploma, degree, or equivalent 3
496	496	degree from such an institution, shall be deemed (for 4
497	497	purposes of determining whether the child’s entitle-5
498	498	ment to benefits under this subsection has termi-6
499	499	nated under paragraph (1)(F) and for purposes of 7
500	500	determining his initial entitlement to such benefits 8
501	501	under clause (iii) of paragraph (1)(B)) not to have 9
502	502	attained such age until the first day of the first 10
503	503	month following the end of the quarter or semester 11
504	504	in which he is enrolled at such time (or, if the sec-12
505	505	ondary school or educational institution in which he 13
506	506	is enrolled is not operated on a quarter or semester 14
507	507	system, until the first day of the first month fol-15
508	508	lowing the completion of the course in which the 16
509	509	child is so enrolled or until the first day of the third 17
510	510	month beginning after such time, whichever first oc-18
511	511	curs).’’. 19
512	512	(2) E
513	513	FFECTIVE DATE.—The amendments made 20
514	514	by this subsection shall apply to child’s insurance 21
515	515	benefits that are payable for months beginning on or 22
516	516	after January 1, 2026. 23
517	517	(b) R
518	518	AILROADRETIREMENTACT.— 24
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521	521	•HR 1700 IH
522	522	(1) Section 2(d) of the Railroad Retirement Act 1
523	523	of 1974 (45 U.S.C. 232(2)(d)) is amended— 2
524	524	(A) in clause (iii) of paragraph (1), by 3
525	525	striking ‘‘will be less than nineteen years of age 4
526	526	and a full-time elementary or secondary school 5
527	527	student’’ and inserting ‘‘will be less than 22 6
528	528	years of age and a full-time student at an edu-7
529	529	cational institution (as defined in section 8
530	530	202(d)(7)(E) of the Social Security Act)’’; and 9
531	531	(B) in paragraph (4)— 10
532	532	(i) by striking ‘‘(defining the terms 11
533	533	‘full-time elementary or secondary school 12
534	534	student’ and ‘elementary or secondary 13
535	535	school’)’’; 14
536	536	(ii) by striking ‘‘nineteen’’ and insert-15
537	537	ing ‘‘22’’; 16
538	538	(iii) by striking ‘‘full-time elementary 17
539	539	or secondary school student’’ and inserting 18
540	540	‘‘full-time student at an educational insti-19
541	541	tution’’; 20
542	542	(iv) by striking ‘‘subparagraph (A) of 21
543	543	paragraph (7) of section 202(d) of the So-22
544	544	cial Security Act and without the applica-23
545	545	tion of subparagraph (B)’’ and inserting 24
546	546	‘‘subparagraph (E) of section 202(d)(7) of 25
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549	549	•HR 1700 IH
550	550	the Social Security Act, without regard to 1
551	551	subparagraph (F) of such section’’; 2
552	552	(v) by striking ‘‘a diploma or equiva-3
553	553	lent certificate from a secondary school (as 4
554	554	defined in section 202(d)(7)(c)(i) of the 5
555	555	Social Security Act)’’ and inserting ‘‘a di-6
556	556	ploma, degree, or equivalent certificate 7
557	557	from a secondary school or educational in-8
558	558	stitution described in section 202(d)(7)(E) 9
559	559	of the Social Security Act’’; and 10
560	560	(vi) by striking ‘‘elementary or sec-11
561	561	ondary school in which he is enrolled’’ and 12
562	562	inserting ‘‘school or institution in which 13
563	563	the child is enrolled’’. 14
564	564	(2) Section 5(c)(7) of the Railroad Retirement 15
565	565	Act of 1974 (45 U.S.C. 235(c)(7)) is amended— 16
566	566	(A) by striking ‘‘full-time elementary or 17
567	567	secondary school student’’ and inserting ‘‘full- 18
568	568	time student at an educational institution’’; and 19
569	569	(B) by striking ‘‘19’’ and inserting ‘‘22’’. 20
570	570	(3) The amendments made by this subsection 21
571	571	shall apply to benefits under the Railroad Retire-22
572	572	ment Act of 1974 that are payable for months be-23
573	573	ginning on or after January 1, 2026. 24
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576	576	•HR 1700 IH
577	577	SEC. 6. PAYROLL TAX ON REMUNERATION UP TO CON-1
578	578	TRIBUTION AND BENEFIT BASE AND MORE 2
579	579	THAN $250,000. 3
580	580	(a) I
581	581	NGENERAL.—Paragraph (1) of section 3121(a) 4
582	582	of the Internal Revenue Code of 1986 is amended to read 5
583	583	as follows: 6
584	584	‘‘(1) in the case of taxes imposed by sections 7
585	585	3101(a) and 3111(a), for any calendar year in which 8
586	586	the contribution and benefit base (as determined 9
587	587	under section 230 of the Social Security Act) is less 10
588	588	than $250,000, so much of the remuneration (other 11
589	589	than remuneration referred to in the succeeding 12
590	590	paragraphs of this subsection) with respect to em-13
591	591	ployment that has been paid to an individual by an 14
592	592	employer during the calendar year as exceeds such 15
593	593	contribution and benefit base but does not exceed 16
594	594	$250,000;’’. 17
595	595	(b) C
596	596	ONFORMINGAMENDMENTS.— 18
597	597	(1) S
598	598	UCCESSOR EMPLOYERS .—Section 3121 of 19
599	599	the Internal Revenue Code of 1986 is amended by 20
600	600	adding at the end the following new subsection: 21
601	601	‘‘(aa) S
602	602	PECIALRULES FORSUCCESSOREMPLOY-22
603	603	ERS.—For purposes of subsection (a)(1), if an employer 23
604	604	(hereinafter referred to as successor employer) during any 24
605	605	calendar year acquires substantially all the property used 25
606	606	in a trade or business of another employer (hereinafter 26
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609	609	•HR 1700 IH
610	610	referred to as a predecessor), or used in a separate unit 1
611	611	of a trade or business of a predecessor, and immediately 2
612	612	after the acquisition employs in his trade or business an 3
613	613	individual who immediately prior to the acquisition was 4
614	614	employed in the trade or business of such predecessor, 5
615	615	then, for the purpose of determining the amount of remu-6
616	616	neration paid by the successor employer under such sub-7
617	617	section, any remuneration (other than remuneration re-8
618	618	ferred to in the paragraphs succeeding paragraph (1) of 9
619	619	subsection (a)) with respect to employment paid (or con-10
620	620	sidered under this subsection as having been paid) to such 11
621	621	individual by such predecessor during such calendar year 12
622	622	and prior to such acquisition shall be considered as having 13
623	623	been paid by such successor employer.’’. 14
624	624	(2) A
625	625	PPLICATION TO RAILROAD RETIREMENT 15
626	626	TAXES.—Clause (i) of section 3231(e)(2)(A) of such 16
627	627	Code is amended to read as follows: 17
628	628	‘‘(i) I
629	629	N GENERAL.—For any calendar 18
630	630	year in which the applicable base is less 19
631	631	than $250,000, the term ‘compensation’ 20
632	632	does not include so much of the remunera-21
633	633	tion paid during any calendar year to an 22
634	634	individual by an employer for services ren-23
635	635	dered as an employee to such employer as 24
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638	638	•HR 1700 IH
639	639	exceeds the applicable base but does not 1
640	640	exceed $250,000.’’. 2
641	641	(c) E
642	642	FFECTIVEDATE.—The amendments made by 3
643	643	this section shall apply to remuneration paid on or after 4
644	644	January 1 of the first calendar year that begins after the 5
645	645	date of enactment of this Act. 6
646	646	SEC. 7. TAX ON NET EARNINGS FROM SELF-EMPLOYMENT 7
647	647	UP TO CONTRIBUTION AND BENEFIT BASE 8
648	648	AND MORE THAN $250,000. 9
649	649	(a) I
650	650	NGENERAL.—Paragraph (1) of section 1402(b) 10
651	651	of the Internal Revenue Code of 1986 is amended to read 11
652	652	as follows: 12
653	653	‘‘(1) in the case of the tax imposed by section 13
654	654	1401(a) for any taxable year beginning in a calendar 14
655	655	year in which the contribution and benefit base (as 15
656	656	determined under section 230 of the Social Security 16
657	657	Act) is less than $250,000, the excess (if any) of— 17
658	658	‘‘(A) so much of the net earnings from 18
659	659	self-employment which is in excess of— 19
660	660	‘‘(i) an amount equal to the contribu-20
661	661	tion and benefit base (as determined under 21
662	662	section 230 of the Social Security Act) 22
663	663	which is effective for the calendar year in 23
664	664	which such taxable year begins, minus 24
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667	667	•HR 1700 IH
668	668	‘‘(ii) the amount of the wages paid to 1
669	669	such individual during such taxable years, 2
670	670	over 3
671	671	‘‘(B) the sum of— 4
672	672	‘‘(i) the excess (if any) of— 5
673	673	‘‘(I) the net earning from self- 6
674	674	employment reduced by the excess (if 7
675	675	any) of subparagraph (A)(i) over sub-8
676	676	paragraph (A)(ii), over 9
677	677	‘‘(II) $250,000, reduced by such 10
678	678	contribution and benefit base, plus 11
679	679	‘‘(ii) the amount of the wages paid to 12
680	680	such individual during such taxable year in 13
681	681	excess of such contribution and benefit 14
682	682	base and not in excess of $250,000; or’’. 15
683	683	(b) E
684	684	FFECTIVEDATE.—The amendments made by 16
685	685	this section shall apply to net earnings from self-employ-17
686	686	ment derived, and remuneration paid, on or after January 18
687	687	1 of the first calendar year that begins after the date of 19
688	688	enactment of this Act. 20
689	689	SEC. 8. TAX ON INVESTMENT GAIN. 21
690	690	(a) I
691	691	NCREASE INTAX.— 22
692	692	(1) I
693	693	N GENERAL.—Subsection (a) of section 23
694	694	1411 of the Internal Revenue Code of 1986 is 24
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697	697	•HR 1700 IH
698	698	amended by striking ‘‘3.8 percent’’ each place it ap-1
699	699	pears and inserting ‘‘16.2 percent’’. 2
700	700	(2) C
701	701	ONFORMING AMENDMENT .—The heading 3
702	702	for chapter 2A of the Internal Revenue Code of 4
703	703	1986 is amended by striking ‘‘UNEARNED IN-5
704	704	COME MEDICARE CONTRIBUTION ’’ and 6
705	705	inserting ‘‘ADDITIONAL TAX ON UN-7
706	706	EARNED INCOME IN LIEU OF SOCIAL 8
707	707	SECURITY AND MEDICARE TAXES ’’. 9
708	708	(b) I
709	709	NCLUSION OFACTIVETRADE ORBUSINESSIN-10
710	710	COME.— 11
711	711	(1) I
712	712	N GENERAL.—Section 1411(c)(1)(A) of the 12
713	713	Internal Revenue Code of 1986 is amended— 13
714	714	(A) in clause (i), by striking ‘‘, other than 14
715	715	such income which is derived in the ordinary 15
716	716	course of a trade or business not described in 16
717	717	paragraph (2)’’, 17
718	718	(B) in clause (ii), by striking ‘‘described in 18
719	719	paragraph (2)’’ and inserting ‘‘(determined 19
720	720	under rules similar to the rules of paragraphs 20
721	721	(5) and (6) of section 469(c))’’, and 21
722	722	(C) in clause (iii), by striking ‘‘other than 22
723	723	property held in a trade or business not de-23
724	724	scribed in paragraph (2)’’. 24
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727	727	•HR 1700 IH
728	728	(2) DENIAL OF DEDUCTION FOR NET OPER -1
729	729	ATING LOSSES.—Section 1411(c)(1)(B) of such Code 2
730	730	is amended by inserting ‘‘(other than the deduction 3
731	731	for net operating losses provided in section 172)’’ 4
732	732	after ‘‘net gain’’. 5
733	733	(3) C
734	734	ONFORMING AMENDMENTS .— 6
735	735	(A) Section 1411(c) of such Code is 7
736	736	amended by striking paragraphs (2), (3), and 8
737	737	(4) and by redesignating paragraphs (5) and 9
738	738	(6) as paragraphs (2) and (3), respectively. 10
739	739	(B) Section 1411(c)(3) of such Code, as 11
740	740	redesignated by subparagraph (A), is amended 12
741	741	to read as follows: 13
742	742	‘‘(3) S
743	743	PECIAL RULE.—Net investment income 14
744	744	shall not include— 15
745	745	‘‘(A) any item taken into account in deter-16
746	746	mining self-employment income for such taxable 17
747	747	year on which a tax is imposed by section 1401, 18
748	748	or 19
749	749	‘‘(B) any item taken into account in deter-20
750	750	mining wages received with respect to employ-21
751	751	ment for such taxable year on which a tax is 22
752	752	imposed by section 3101.’’. 23
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755	755	•HR 1700 IH
756	756	(c) EFFECTIVEDATE.—The amendments made by 1
757	757	this section shall apply to taxable years beginning after 2
758	758	the date of enactment of this Act. 3
759	759	SEC. 9. SOCIAL SECURITY TRUST FUND ESTABLISHED. 4
760	760	(a) I
761	761	NGENERAL.—Section 201(a) of the Social Secu-5
762	762	rity Act (42 U.S.C. 401(a)) is amended to read as follows: 6
763	763	‘‘(a) There is hereby created on the books of the 7
764	764	Treasury of the United States a trust fund to be known 8
765	765	as the ‘Social Security Trust Fund’. The Social Security 9
766	766	Trust Fund shall consist of the securities held by the Sec-10
767	767	retary of the Treasury for the Federal Old-Age and Sur-11
768	768	vivors Insurance Trust Fund and the Federal Disability 12
769	769	Insurance Trust Fund and the amount standing to the 13
770	770	credit of the Federal Old-Age and Survivors Insurance 14
771	771	Trust Fund and the Federal Disability Insurance Trust 15
772	772	Fund on the books of the Treasury on January 1 of the 16
773	773	first calendar year beginning after the date of the enact-17
774	774	ment of section 9 of the Social Security Expansion Act, 18
775	775	which securities and amount the Secretary of the Treasury 19
776	776	is authorized and directed to transfer to the Social Secu-20
777	777	rity Trust Fund, and, in addition, such gifts and bequests 21
778	778	as may be made as provided in subsection (i)(1), and such 22
779	779	amounts as may be appropriated to, or deposited in, the 23
780	780	Social Security Trust Fund as hereinafter provided. There 24
781	781	is hereby appropriated to the Social Security Trust Fund 25
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784	784	•HR 1700 IH
785	785	for the first fiscal year that begins after the date of the 1
786	786	enactment of section 9 of the Social Security Expansion 2
787	787	Act, and for each fiscal year thereafter, out of any moneys 3
788	788	in the Treasury not otherwise appropriated, amounts 4
789	789	equivalent to 100 percent of— 5
790	790	‘‘(1) the taxes imposed by chapter 21 (other 6
791	791	than sections 3101(b) and 3111(b)) of the Internal 7
792	792	Revenue Code of 1986 with respect to wages (as de-8
793	793	fined in section 3121 of such Code) reported to the 9
794	794	Secretary of the Treasury pursuant to subtitle F of 10
795	795	the Internal Revenue Code of 1986, as determined 11
796	796	by the Secretary of the Treasury by applying the ap-12
797	797	plicable rates of tax under such chapter (other than 13
798	798	sections 3101(b) and 3111(b)) to such wages, which 14
799	799	wages shall be certified by the Commissioner of So-15
800	800	cial Security on the basis of the records of wages es-16
801	801	tablished and maintained by such Commissioner in 17
802	802	accordance with such reports; 18
803	803	‘‘(2) the taxes imposed by chapter 2 (other than 19
804	804	section 1401(b)) of the Internal Revenue Code of 20
805	805	1986 with respect to self-employment income (as de-21
806	806	fined in section 1402 of such Code) reported to the 22
807	807	Secretary of the Treasury on tax returns under sub-23
808	808	title F of such Code, as determined by the Secretary 24
809	809	of the Treasury by applying the applicable rate of 25
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812	812	•HR 1700 IH
813	813	tax under such chapter (other than section 1401(b)) 1
814	814	to such self-employment income, which self-employ-2
815	815	ment income shall be certified by the Commissioner 3
816	816	of Social Security on the basis of the records of self- 4
817	817	employment income established and maintained by 5
818	818	the Commissioner of Social Security in accordance 6
819	819	with such returns; and 7
820	820	‘‘(3) 62 percent of the taxes imposed under sec-8
821	821	tion 1411 of the Internal Revenue Code of 1986. 9
822	822	The amounts appropriated by paragraphs (1), (2), and (3) 10
823	823	shall be transferred from time to time from the general 11
824	824	fund in the Treasury to the Social Security Trust Fund, 12
825	825	such amounts to be determined on the basis of estimates 13
826	826	by the Secretary of the Treasury of the taxes, specified 14
827	827	in paragraphs (1), (2), and (3), paid to or deposited into 15
828	828	the Treasury; and proper adjustments shall be made in 16
829	829	amounts subsequently transferred to the extent prior esti-17
830	830	mates were in excess of or were less than the taxes speci-18
831	831	fied in such paragraphs. All amounts transferred to the 19
832	832	Social Security Trust Fund under the preceding sentence 20
833	833	shall be invested by the Managing Trustee in the same 21
834	834	manner and to the same extent as the other assets of the 22
835	835	Trust Fund. Notwithstanding the preceding sentence, in 23
836	836	any case in which the Secretary of the Treasury deter-24
837	837	mines that the assets of the Trust Fund would otherwise 25
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840	840	•HR 1700 IH
841	841	be inadequate to meet the Trust Fund’s obligations for 1
842	842	any month, the Secretary of the Treasury shall transfer 2
843	843	to the Trust Fund on the first day of such month the 3
844	844	total amount which would have been transferred to the 4
845	845	Trust Fund under this section as in effect on October 1, 5
846	846	1990; and the Trust Fund shall pay interest to the general 6
847	847	fund on the amount so transferred on the first day of any 7
848	848	month at a rate (calculated on a daily basis, and applied 8
849	849	against the difference between the amount so transferred 9
850	850	on such first day and the amount which would have been 10
851	851	transferred to the Trust Fund up to that day under the 11
852	852	procedures in effect on January 1, 1983) equal to the rate 12
853	853	earned by the investments of the Trust Fund in the same 13
854	854	month under subsection (d).’’. 14
855	855	(b) R
856	856	EQUIRED ACTUARIALANALYSIS.—Section 15
857	857	201(c) of the Social Security Act is amended by striking 16
858	858	the fourth sentence in the matter following paragraph (5) 17
859	859	and inserting the following: ‘‘Such report shall also include 18
860	860	actuarial analysis of the benefit cost with respect to dis-19
861	861	abled beneficiaries and their auxiliaries, to retired bene-20
862	862	ficiaries and their auxiliaries, and to survivor bene-21
863	863	ficiaries.’’. 22
864	864	(c) B
865	865	OARD OFTRUSTEES.— 23
866	866	(1) B
867	867	OARD OF TRUSTEES OF SOCIAL SECURITY 24
868	868	TRUST FUND.—Section 201(c) of the Social Security 25
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871	871	•HR 1700 IH
872	872	Act, as amended by subsection (b) of this section, is 1
873	873	further amended in the matter preceding paragraph 2
874	874	(1) by striking ‘‘the Federal Old-Age and Survivors 3
875	875	Insurance Trust Fund and the Federal Disability 4
876	876	Insurance Trust Fund (hereinafter in this title 5
877	877	called the ‘Trust Funds’)’’ and inserting ‘‘the Social 6
878	878	Security Trust Fund (in this title referred to as the 7
879	879	‘Trust Fund’)’’. 8
880	880	(2) C
881	881	ONTINUITY OF BOARD OF TRUSTEES .— 9
882	882	The Board of Trustees of the Social Security Trust 10
883	883	Fund created by the amendment made by subsection 11
884	884	(a) shall be a continuous body with the Board of 12
885	885	Trustees of the Federal Old-Age and Survivors In-13
886	886	surance Trust Fund and the Federal Disability In-14
887	887	surance Trust Fund in operation prior to the effec-15
888	888	tive date of such amendment. Individuals serving as 16
889	889	members of the Board of Trustees of the Federal 17
890	890	Old-Age and Survivors Insurance Trust Fund and 18
891	891	the Federal Disability Insurance Trust Fund as of 19
892	892	the effective date of such amendment shall serve the 20
893	893	remainder of their term as members of the Board of 21
894	894	Trustees of the Social Security Trust Fund. 22
895	895	(d) C
896	896	ONFORMINGAMENDMENTS RELATED TOSO-23
897	897	CIALSECURITYTRUSTFUND.— 24
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900	900	•HR 1700 IH
901	901	(1) AMENDMENT TO SECTION HEADING .—The 1
902	902	section heading for section 201 of the Social Secu-2
903	903	rity Act is amended to read as follows: ‘‘
904	904	SOCIAL SE-3
905	905	CURITY TRUST FUND’’. 4
906	906	(2) B
907	907	OARD OF TRUSTEES .—Section 201(c) of 5
908	908	such Act, as amended by subsections (b) and (c)(1), 6
909	909	is further amended— 7
910	910	(A) in the matter preceding paragraph (1), 8
911	911	by striking ‘‘Board of Trustees of the Trust 9
912	912	Funds’’ and inserting ‘‘Board of Trustees of 10
913	913	the Trust Fund’’; 11
914	914	(B) in paragraph (1), by striking ‘‘Trust 12
915	915	Funds’’ and inserting ‘‘Trust Fund’’; 13
916	916	(C) in paragraph (2)— 14
917	917	(i) by striking ‘‘Trust Funds’’ and in-15
918	918	serting ‘‘Trust Fund’’; and 16
919	919	(ii) by striking ‘‘their’’ and inserting 17
920	920	‘‘its’’; 18
921	921	(D) in paragraph (3), by striking ‘‘either 19
922	922	of the Trust Funds’’ and inserting ‘‘the Trust 20
923	923	Fund’’; 21
924	924	(E) in paragraph (5)— 22
925	925	(i) by striking ‘‘managing the Trust 23
926	926	Funds’’ and inserting ‘‘managing the 24
927	927	Trust Fund’’; and 25
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930	930	•HR 1700 IH
931	931	(ii) by striking ‘‘Trust Funds are’’ 1
932	932	and inserting ‘‘Trust Fund is’’; 2
933	933	(F) in the matter following paragraph (5), 3
934	934	by striking ‘‘Trust Funds’’ each place it ap-4
935	935	pears and inserting ‘‘Trust Fund’’; and 5
936	936	(G) in the second sentence in the matter 6
937	937	following paragraph (5), by striking ‘‘whether 7
938	938	the Federal Old-Age and Survivors Insurance 8
939	939	Trust Fund and the Federal Disability Insur-9
940	940	ance Trust Fund, individually and collectively, 10
941	941	are’’ and inserting ‘‘whether the Social Security 11
942	942	Trust Fund is’’. 12
943	943	(3) I
944	944	NVESTMENTS.—Section 201 of such Act is 13
945	945	amended in subsections (d) and (e) by striking 14
946	946	‘‘Trust Funds’’ each place it appears and inserting 15
947	947	‘‘Trust Fund’’. 16
948	948	(4) C
949	949	REDITING OF INTEREST AND PROCEEDS 17
950	950	TO TRUST FUNDS .—Section 201(f) of such Act is 18
951	951	amended— 19
952	952	(A) by striking ‘‘the Federal Old-Age and 20
953	953	Survivors Insurance Trust Fund and the Fed-21
954	954	eral Disability Insurance Trust Fund shall be 22
955	955	credited to and form a part of the Federal Old- 23
956	956	Age and Survivors Insurance Trust Fund and 24
957	957	the Disability Insurance Trust Fund, respec-25
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960	960	•HR 1700 IH
961	961	tively’’ and inserting ‘‘the Social Security Trust 1
962	962	Fund shall be credited to and form a part of 2
963	963	the Social Security Trust Fund’’; 3
964	964	(B) by striking ‘‘either of the Trust 4
965	965	Funds’’ and inserting ‘‘the Trust Fund’’; and 5
966	966	(C) by striking ‘‘such Trust Fund’’ and in-6
967	967	serting ‘‘the Trust Fund’’. 7
968	968	(5) A
969	969	DMINISTRATIVE COSTS.—Section 201(g) of 8
970	970	such Act is amended— 9
971	971	(A) in paragraph (1)— 10
972	972	(i) in subparagraph (A), by striking 11
973	973	‘‘Of the amounts authorized to be made 12
974	974	available out of the Federal Old-Age and 13
975	975	Survivors Insurance Trust Fund and the 14
976	976	Federal Disability Insurance Trust Fund 15
977	977	under the preceding sentence’’ and all that 16
978	978	follows through ‘‘(Public Law 103–296).’’; 17
979	979	and 18
980	980	(ii) in subparagraph (B)(i)— 19
981	981	(I) by striking subclauses (II) 20
982	982	and (III) and inserting the following: 21
983	983	‘‘(II) the portion of such costs which 22
984	984	should have been borne by the Social Security 23
985	985	Trust Fund,’’; and 24
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988	988	•HR 1700 IH
989	989	(II) by redesignating subclauses 1
990	990	(IV) and (V) as subclauses (III) and 2
991	991	(IV); 3
992	992	(B) in paragraph (2)— 4
993	993	(i) by striking ‘‘Trust Funds’’ and in-5
994	994	serting ‘‘Trust Fund’’; and 6
995	995	(ii) by striking the last sentence; and 7
996	996	(C) in paragraph (4), by striking ‘‘Trust 8
997	997	Funds’’ each place it appears and inserting 9
998	998	‘‘Trust Fund’’. 10
999	999	(6) B
1000	1000	ENEFIT PAYMENTS .—Section 201(h) of 11
1001	1001	such Act is amended to read as follows: 12
1002	1002	‘‘(h) All benefit payments required to be made under 13
1003	1003	this title shall be made only from the Social Security Trust 14
1004	1004	Fund.’’. 15
1005	1005	(7) G
1006	1006	IFTS.—Section 201(i) of such Act is 16
1007	1007	amended— 17
1008	1008	(A) in paragraph (1), by striking ‘‘the 18
1009	1009	Federal Old-Age and Survivors Insurance Trust 19
1010	1010	Fund, the Federal Disability Insurance Trust 20
1011	1011	Fund’’ and inserting ‘‘the Social Security Trust 21
1012	1012	Fund’’; and 22
1013	1013	(B) in paragraph (2)(B), by striking ‘‘the 23
1014	1014	Federal Old-Age and Survivors Insurance Trust 24
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1017	1017	•HR 1700 IH
1018	1018	Fund’’ and inserting ‘‘the Social Security Trust 1
1019	1019	Fund’’. 2
1020	1020	(8) T
1021	1021	RAVEL EXPENSES.—Section 201(j) of such 3
1022	1022	Act is amended by striking ‘‘the Federal Old-Age 4
1023	1023	and Survivors Insurance Trust Fund, or the Federal 5
1024	1024	Disability Insurance Trust Fund (as determined ap-6
1025	1025	propriate by the Commissioner of Social Security)’’ 7
1026	1026	and inserting ‘‘the Social Security Trust Fund’’. 8
1027	1027	(9) D
1028	1028	EMONSTRATION PROJECTS .—Section 9
1029	1029	201(k) of such Act is amended by striking ‘‘the Fed-10
1030	1030	eral Disability Insurance Trust Fund and the Fed-11
1031	1031	eral Old-Age and Survivors Insurance Trust Fund, 12
1032	1032	as determined appropriate by the Commissioner of 13
1033	1033	Social Security’’ and inserting ‘‘the Social Security 14
1034	1034	Trust Fund’’. 15
1035	1035	(10) B
1036	1036	ENEFIT CHECKS.—Section 201(m) of 16
1037	1037	such Act is amended— 17
1038	1038	(A) in paragraph (2), by striking ‘‘each of 18
1039	1039	the Trust Funds’’ and inserting ‘‘the Social Se-19
1040	1040	curity Trust Fund’’; 20
1041	1041	(B) in paragraph (3), by striking ‘‘one of 21
1042	1042	the Trust Funds’’ and inserting ‘‘the Trust 22
1043	1043	Fund’’; and 23
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1046	1046	•HR 1700 IH
1047	1047	(C) by striking ‘‘such Trust Fund’’ each 1
1048	1048	place it appears and inserting ‘‘the Trust 2
1049	1049	Fund’’. 3
1050	1050	(11) C
1051	1051	ONFORMING REPEALS .— 4
1052	1052	(A) I
1053	1053	N GENERAL.—Section 201 of such 5
1054	1054	Act is amended by striking subsections (b), (l), 6
1055	1055	and (n). 7
1056	1056	(B) R
1057	1057	EDESIGNATIONS.—Section 201 of 8
1058	1058	such Act is further amended— 9
1059	1059	(i) by redesignating subsections (c) 10
1060	1060	through (j) as subsections (b) through (i), 11
1061	1061	respectively; 12
1062	1062	(ii) by redesignating subsection (k) as 13
1063	1063	subsection (j); and 14
1064	1064	(iii) by redesignating subsection (m) 15
1065	1065	as subsection (k). 16
1066	1066	(C) R
1067	1067	EFERENCES TO REDESIGNATED SEC -17
1068	1068	TIONS.— 18
1069	1069	(i) Section 201(a) of such Act, as 19
1070	1070	amended by subsection (a) of this section, 20
1071	1071	is further amended— 21
1072	1072	(I) by striking ‘‘subsection 22
1073	1073	(i)(1)’’ and inserting ‘‘subsection 23
1074	1074	(h)(1)’’; and 24
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1078	1078	(II) by striking ‘‘subsection (d)’’ 1
1079	1079	and inserting ‘‘subsection (c)’’. 2
1080	1080	(ii) Section 1131(b)(1) of such Act is 3
1081	1081	amended by striking ‘‘section 201(g)(1)’’ 4
1082	1082	and inserting ‘‘section 201(f)(1)’’. 5
1083	1083	(e) O
1084	1084	THERCONFORMINGAMENDMENTS TO SOCIAL 6
1085	1085	S
1086	1086	ECURITYACT.— 7
1087	1087	(1) T
1088	1088	ITLE II.—Title II of the Social Security 8
1089	1089	Act (42 U.S.C. 401 et seq.) is amended— 9
1090	1090	(A) in section 202(x)(3)(B)(iii), by striking 10
1091	1091	‘‘the Federal Old-Age and Survivors Insurance 11
1092	1092	Trust Fund and the Federal Disability Insur-12
1093	1093	ance Trust Fund, as appropriate,’’ and insert-13
1094	1094	ing ‘‘the Social Security Trust Fund’’; 14
1095	1095	(B) in section 206(d)(5), by striking ‘‘the 15
1096	1096	Federal Old-Age and Survivors Insurance Trust 16
1097	1097	Fund and the Federal Disability Insurance 17
1098	1098	Trust Fund, as appropriate’’ and inserting ‘‘the 18
1099	1099	Social Security Trust Fund’’; 19
1100	1100	(C) in section 206(e)(3)(B), by striking 20
1101	1101	‘‘the Federal Old-Age and Survivors Insurance 21
1102	1102	Trust Fund and the Federal Disability Insur-22
1103	1103	ance Trust Fund’’ and inserting ‘‘the Social Se-23
1104	1104	curity Trust Fund’’; 24
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1107	1107	•HR 1700 IH
1108	1108	(D) in section 208(b)(5)(A), by striking 1
1109	1109	‘‘the Federal Old-Age and Survivors Insurance 2
1110	1110	Trust Fund, or the Federal Disability Insur-3
1111	1111	ance Trust Fund, as appropriate’’ and inserting 4
1112	1112	‘‘the Social Security Trust Fund’’; 5
1113	1113	(E) in section 215(i)(1)(F)— 6
1114	1114	(i) in clause (i)— 7
1115	1115	(I) by striking ‘‘the combined 8
1116	1116	balance in the Federal Old-Age and 9
1117	1117	Survivors Insurance Trust Fund and 10
1118	1118	the Federal Disability Insurance 11
1119	1119	Trust Fund’’ and inserting ‘‘the bal-12
1120	1120	ance in the Social Security Trust 13
1121	1121	Fund’’; and 14
1122	1122	(II) by striking ‘‘and reduced by 15
1123	1123	the outstanding amount of any loan 16
1124	1124	(including interest thereon) thereto-17
1125	1125	fore made to either such Fund from 18
1126	1126	the Federal Hospital Insurance Trust 19
1127	1127	Fund under section 201(l)’’; and 20
1128	1128	(ii) in clause (ii)— 21
1129	1129	(I) by striking ‘‘the Federal Old- 22
1130	1130	Age and Survivors Insurance Trust 23
1131	1131	Fund and the Federal Disability In-24
1132	1132	surance Trust Fund’’ and inserting 25
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1135	1135	•HR 1700 IH
1136	1136	‘‘the Social Security Trust Fund’’; 1
1137	1137	and 2
1138	1138	(II) by striking ‘‘(other than pay-3
1139	1139	ments’’ and all that follows through 4
1140	1140	‘‘from that Account’’; 5
1141	1141	(F) in section 217(g)(2), by inserting after 6
1142	1142	the first sentence the following: ‘‘For purposes 7
1143	1143	of any such revision of the amount determined 8
1144	1144	under paragraph (1) that occurs in a year that 9
1145	1145	begins after the year in which the Social Secu-10
1146	1146	rity Expansion Act is enacted, any reference in 11
1147	1147	such paragraph to the Federal Old-Age and 12
1148	1148	Survivors Insurance Trust Fund or the Federal 13
1149	1149	Disability Insurance Trust Fund shall be 14
1150	1150	deemed to be a reference to the Social Security 15
1151	1151	Trust Fund.’’; 16
1152	1152	(G) in section 221(e)— 17
1153	1153	(i) by striking ‘‘Trust Funds’’ each 18
1154	1154	place it appears and inserting ‘‘Trust 19
1155	1155	Fund’’; and 20
1156	1156	(ii) by striking the last sentence; 21
1157	1157	(H) in section 221(f), by striking ‘‘Trust 22
1158	1158	Funds’’ and inserting ‘‘Trust Fund’’; 23
1159	1159	(I) in section 222(d)— 24
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1163	1163	(i) in the section heading, by striking 1
1164	1164	‘‘T
1165	1165	RUSTFUNDS’’ and inserting ‘‘TRUST 2
1166	1166	F
1167	1167	UND’’; 3
1168	1168	(ii) in paragraph (1), by striking ‘‘to 4
1169	1169	the end that savings will accrue to the 5
1170	1170	Trust Funds as a result of rehabilitating 6
1171	1171	such individuals, there are authorized to be 7
1172	1172	transferred from the Federal Old-Age and 8
1173	1173	Survivors Insurance Trust Fund and the 9
1174	1174	Federal Disability Insurance Trust Fund’’ 10
1175	1175	and inserting ‘‘to the end that savings will 11
1176	1176	accrue to the Trust Fund as a result of re-12
1177	1177	habilitating such individuals, there are au-13
1178	1178	thorized to be transferred from the Social 14
1179	1179	Security Trust Fund’’; and 15
1180	1180	(iii) by amending paragraph (4) to 16
1181	1181	read as follows: 17
1182	1182	‘‘(4) The Commissioner of Social Security shall deter-18
1183	1183	mine according to such methods and procedures as the 19
1184	1184	Commissioner may deem appropriate the total amount to 20
1185	1185	be reimbursed for the cost of services under this sub-21
1186	1186	section.’’; 22
1187	1187	(J) in section 228(g)— 23
1188	1188	(i) in the section heading, by striking 24
1189	1189	‘‘F
1190	1190	EDERALOLD-AGE ANDSURVIVORSIN-25
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1193	1193	•HR 1700 IH
1194	1194	SURANCETRUSTFUND’’ and inserting 1
1195	1195	‘‘S
1196	1196	OCIALSECURITYTRUSTFUND’’; and 2
1197	1197	(ii) in the matter preceding paragraph 3
1198	1198	(1), by striking ‘‘Federal Old-Age and Sur-4
1199	1199	vivors Insurance Trust Fund’’ and insert-5
1200	1200	ing ‘‘Social Security Trust Fund’’; 6
1201	1201	(K) in section 231(c), by striking ‘‘Trust 7
1202	1202	Funds’’ each place it appears and inserting 8
1203	1203	‘‘Trust Fund’’; and 9
1204	1204	(L) in section 234(a)(1), by striking 10
1205	1205	‘‘Trust Funds’’ and inserting ‘‘Trust Fund’’. 11
1206	1206	(2) T
1207	1207	ITLE VII.—Title VII of the Social Security 12
1208	1208	Act (42 U.S.C. 901 et seq.) is amended— 13
1209	1209	(A) in section 703(j), by striking ‘‘Federal 14
1210	1210	Disability Insurance Trust Fund, the Federal 15
1211	1211	Old-Age and Survivors Insurance Trust Fund,’’ 16
1212	1212	and inserting ‘‘Social Security Trust Fund’’; 17
1213	1213	(B) in section 708(c), by striking ‘‘the 18
1214	1214	‘OASDI trust fund ratio’ under section 201(l),’’ 19
1215	1215	after ‘‘computing’’; 20
1216	1216	(C) in section 709— 21
1217	1217	(i) in subsection (a), by striking ‘‘Fed-22
1218	1218	eral Old-Age and Survivors Insurance 23
1219	1219	Trust Fund and the Federal Disability In-24
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1222	1222	•HR 1700 IH
1223	1223	surance Trust Fund’’ and inserting ‘‘Social 1
1224	1224	Security Trust Fund’’; and 2
1225	1225	(ii) in subsection (b)— 3
1226	1226	(I) in paragraph (1), by striking 4
1227	1227	‘‘section 201(l) or’’; and 5
1228	1228	(II) in paragraph (2), by striking 6
1229	1229	‘‘Federal Old-Age and Survivors In-7
1230	1230	surance Trust Fund and the Federal 8
1231	1231	Disability Insurance Trust Fund’’ and 9
1232	1232	inserting ‘‘Social Security Trust 10
1233	1233	Fund’’; and 11
1234	1234	(D) in section 710— 12
1235	1235	(i) in subsection (a), by striking ‘‘Fed-13
1236	1236	eral Old-Age and Survivors Insurance 14
1237	1237	Trust Fund and the Federal Disability In-15
1238	1238	surance Trust Fund’’ and inserting ‘‘Social 16
1239	1239	Security Trust Fund’’; and 17
1240	1240	(ii) in subsection (b)— 18
1241	1241	(I) by striking ‘‘any Trust Fund 19
1242	1242	specified in subsection (a)’’ and in-20
1243	1243	serting ‘‘the Social Security Trust 21
1244	1244	Fund’’; and 22
1245	1245	(II) by striking ‘‘payments from 23
1246	1246	any such Trust Fund’’ and inserting 24
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1250	1250	‘‘payments from the Social Security 1
1251	1251	Trust Fund’’. 2
1252	1252	(3) T
1253	1253	ITLE XI.—Title XI of the Social Security 3
1254	1254	Act (42 U.S.C. 1301 et seq.) is amended— 4
1255	1255	(A) in section 1106(b), by striking ‘‘the 5
1256	1256	Federal Old-Age and Survivors Insurance Trust 6
1257	1257	Fund, the Federal Disability Insurance Trust 7
1258	1258	Fund’’ and inserting ‘‘the Social Security Trust 8
1259	1259	Fund’’; 9
1260	1260	(B) in section 1129(e)(2)(A), by striking 10
1261	1261	‘‘the Federal Old-Age and Survivors Insurance 11
1262	1262	Trust Fund or the Federal Disability Insurance 12
1263	1263	Trust Fund, as determined appropriate by the 13
1264	1264	Secretary’’ and inserting ‘‘the Social Security 14
1265	1265	Trust Fund’’; 15
1266	1266	(C) in sections 1131(b)(2) and 1140(c)(2), 16
1267	1267	by striking ‘‘the Federal Old-Age and Survivors 17
1268	1268	Insurance Trust Fund’’ and inserting ‘‘the So-18
1269	1269	cial Security Trust Fund’’; 19
1270	1270	(D) in section 1145(c)— 20
1271	1271	(i) by striking paragraphs (1) and (2) 21
1272	1272	and inserting the following: 22
1273	1273	‘‘(1) the Social Security Trust Fund;’’; and 23
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1277	1277	(ii) by redesignating paragraphs (3) 1
1278	1278	and (4) as paragraphs (2) and (3), respec-2
1279	1279	tively; and 3
1280	1280	(E) in section 1148(j)(1)(A)— 4
1281	1281	(i) in the first sentence, by striking 5
1282	1282	‘‘the Federal Old-Age and Survivors Insur-6
1283	1283	ance Trust Fund and the Federal Dis-7
1284	1284	ability Insurance Trust Fund’’ and insert-8
1285	1285	ing ‘‘the Social Security Trust Fund’’; and 9
1286	1286	(ii) by striking the second sentence. 10
1287	1287	(4) T
1288	1288	ITLE XVIII.—Title XVIII of the Social Se-11
1289	1289	curity Act (42 U.S.C. 1395) is amended— 12
1290	1290	(A) in section 1817(g), by striking ‘‘Fed-13
1291	1291	eral Old-Age and Survivors Insurance Trust 14
1292	1292	Fund and from the Federal Disability Insur-15
1293	1293	ance Trust Fund’’ and inserting ‘‘Social Secu-16
1294	1294	rity Trust Fund’’; 17
1295	1295	(B) in section 1840(a)(2), by striking 18
1296	1296	‘‘Federal Old-Age and Survivors Insurance 19
1297	1297	Trust Fund or the Federal Disability Insurance 20
1298	1298	Trust Fund’’ and inserting ‘‘Social Security 21
1299	1299	Trust Fund’’; and 22
1300	1300	(C) in section 1841(f), by striking ‘‘Fed-23
1301	1301	eral Old-Age and Survivors Insurance Trust 24
1302	1302	Fund and from the Federal Disability Insur-25
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1305	1305	•HR 1700 IH
1306	1306	ance Trust Fund’’ and inserting ‘‘Social Secu-1
1307	1307	rity Trust Fund’’. 2
1308	1308	(f) C
1309	1309	ONFORMINGAMENDMENTSOUTSIDE OFSOCIAL 3
1310	1310	S
1311	1311	ECURITYACT.— 4
1312	1312	(1) B
1313	1313	UDGET.— 5
1314	1314	(A) O
1315	1315	FF-BUDGET EXEMPTION .—Section 6
1316	1316	405(a) of the Congressional Budget Act of 7
1317	1317	1974 (2 U.S.C. 655(a)) is amended by striking 8
1318	1318	‘‘Federal Old-Age and Survivors Insurance and 9
1319	1319	Federal Disability Insurance Trust Funds’’ and 10
1320	1320	inserting ‘‘Social Security Trust Fund’’. 11
1321	1321	(B) S
1322	1322	EQUESTRATION EXEMPTION .—Sec-12
1323	1323	tion 255(g)(1)(A) of the Balanced Budget and 13
1324	1324	Emergency Deficit Control Act of 1985 (2 14
1325	1325	U.S.C. 905(g)(1)(A)) is amended by striking 15
1326	1326	‘‘Payments to Social Security Trust Funds’’ 16
1327	1327	and inserting ‘‘Payments to the Social Security 17
1328	1328	Trust Fund’’. 18
1329	1329	(2) T
1330	1330	AX.— 19
1331	1331	(A) T
1332	1332	AXABLE WAGES.—Section 3121(l)(4) 20
1333	1333	of the Internal Revenue Code of 1986 is 21
1334	1334	amended by striking ‘‘Federal Old-Age and 22
1335	1335	Survivors Insurance Trust Fund and the Fed-23
1336	1336	eral Disability Insurance Trust Fund’’ and in-24
1337	1337	serting ‘‘Social Security Trust Fund’’. 25
1338	1338	VerDate Sep 11 2014 00:52 Mar 15, 2025 Jkt 059200 PO 00000 Frm 00045 Fmt 6652 Sfmt 6201 E:\BILLS\H1700.IH H1700
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1340	1340	•HR 1700 IH
1341	1341	(B) OVERPAYMENTS.— 1
1342	1342	(i) Section 6402(d)(3)(C) of the Inter-2
1343	1343	nal Revenue Code of 1986 is amended by 3
1344	1344	striking ‘‘Federal Old-Age and Survivors 4
1345	1345	Insurance Trust Fund or the Federal Dis-5
1346	1346	ability Insurance Trust Fund, whichever is 6
1347	1347	certified to the Secretary as appropriate by 7
1348	1348	the Commissioner of Social Security’’ and 8
1349	1349	inserting ‘‘Social Security Trust Fund’’. 9
1350	1350	(ii) Subsection (f)(2)(B) of section 10
1351	1351	3720A of title 31, United States Code, is 11
1352	1352	amended by striking ‘‘Federal Old-Age and 12
1353	1353	Survivors Insurance Trust Fund or the 13
1354	1354	Federal Disability Insurance Trust Fund, 14
1355	1355	whichever is certified to the Secretary of 15
1356	1356	the Treasury as appropriate by the Com-16
1357	1357	missioner of Social Security’’ and inserting 17
1358	1358	‘‘Social Security Trust Fund’’. 18
1359	1359	(3) F
1360	1360	ALSE CLAIMS PENALTIES .—Subsection 19
1361	1361	(g)(2) of section 3806 of title 31, United States 20
1362	1362	Code, is amended— 21
1363	1363	(A) in subparagraph (B)— 22
1364	1364	(i) by striking ‘‘Secretary of Health 23
1365	1365	and Human Services’’ and inserting ‘‘Com-24
1366	1366	missioner of Social Security’’; and 25
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1370	1370	(ii) by striking ‘‘Federal Old-Age and 1
1371	1371	Survivors Insurance Trust Fund’’ and in-2
1372	1372	serting ‘‘Social Security Trust Fund’’; and 3
1373	1373	(B) in subparagraph (C)— 4
1374	1374	(i) by striking ‘‘Secretary of Health 5
1375	1375	and Human Services’’ and inserting ‘‘Com-6
1376	1376	missioner of Social Security’’; and 7
1377	1377	(ii) by striking ‘‘Federal Disability In-8
1378	1378	surance Trust Fund’’ and inserting ‘‘Social 9
1379	1379	Security Trust Fund’’. 10
1380	1380	(4) R
1381	1381	AILROAD RETIREMENT BOARD .—Section 7 11
1382	1382	of the Railroad Retirement Act of 1974 (45 U.S.C. 12
1383	1383	231f) is amended— 13
1384	1384	(A) in subsection (b)(2), by striking ‘‘Fed-14
1385	1385	eral Old-Age and Survivors Insurance Trust 15
1386	1386	Fund and the Federal Disability Insurance 16
1387	1387	Trust Fund’’ and inserting ‘‘Social Security 17
1388	1388	Trust Fund’’; 18
1389	1389	(B) in subsection (c)(2)— 19
1390	1390	(i) by striking ‘‘Secretary of Health, 20
1391	1391	Education, and Welfare’’ each time it ap-21
1392	1392	pears and inserting ‘‘Commissioner of So-22
1393	1393	cial Security’’; and 23
1394	1394	(ii) by striking ‘‘Federal Old-Age and 24
1395	1395	Survivors Insurance Trust Fund, the Fed-25
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1399	1399	eral Disability Insurance Trust Fund,’’ 1
1400	1400	each time it appears and inserting ‘‘Social 2
1401	1401	Security Trust Fund’’; and 3
1402	1402	(C) in subsection (c)(4), by striking ‘‘Fed-4
1403	1403	eral Old-Age and Survivors Insurance Trust 5
1404	1404	Fund, the Federal Disability Insurance Trust 6
1405	1405	Fund,’’ and inserting ‘‘Social Security Trust 7
1406	1406	Fund’’. 8
1407	1407	(g) R
1408	1408	ULE OFCONSTRUCTION.—Effective beginning 9
1409	1409	on January 1 of the first calendar year beginning after 10
1410	1410	the date of the enactment of this section, any reference 11
1411	1411	in law to the ‘‘Federal Old-Age and Survivors Insurance 12
1412	1412	Trust Fund’’ or the ‘‘Federal Disability Insurance Trust 13
1413	1413	Fund’’ is deemed to be a reference to the Social Security 14
1414	1414	Trust Fund. 15
1415	1415	(h) E
1416	1416	FFECTIVEDATE.—The amendments made by 16
1417	1417	this section shall take effect on January 1 of the first cal-17
1418	1418	endar year beginning after the date of the enactment of 18
1419	1419	this section. 19
1420	1420	Æ
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