Us Congress 2025-2026 Regular Session

Us Congress House Bill HB2266 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 2266
5	5	To amend the Internal Revenue Code of 1986 to increase the threshold
6	6	amounts for inclusion of Social Security benefits in income.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	MARCH21, 2025
9	9	Ms. M
10	10	ALLIOTAKISintroduced the following bill; which was referred to the
11	11	Committee on Ways and Means, and in addition to the Committee on Ap-
12	12	propriations, for a period to be subsequently determined by the Speaker,
13	13	in each case for consideration of such provisions as fall within the juris-
14	14	diction of the committee concerned
15	15	A BILL
16	16	To amend the Internal Revenue Code of 1986 to increase
17	17	the threshold amounts for inclusion of Social Security
18	18	benefits in income.
19	19	Be it enacted by the Senate and House of Representa-1
20	20	tives of the United States of America in Congress assembled, 2
21	21	SECTION 1. SHORT TITLE. 3
22	22	This Act may be cited as the ‘‘Reducing Excessive 4
23	23	Taxation and Inefficiencies by Reforming Elder Exemp-5
24	24	tions to Support Fairness, Inflation Relief, and Simpler 6
25	25	Taxes Act’’ or the ‘‘RETIREES FIRST Act’’. 7
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28	28	•HR 2266 IH
29	29	SEC. 2. INCREASE IN THRESHOLD AMOUNTS FOR INCLU-1
30	30	SION OF SOCIAL SECURITY BENEFITS IN IN-2
31	31	COME. 3
32	32	(a) I
33	33	NGENERAL.—Subsection (a) of section 86 of the 4
34	34	Internal Revenue Code of 1986 is amended to read as fol-5
35	35	lows: 6
36	36	‘‘(a) I
37	37	NGENERAL.—Gross income for the taxable 7
38	38	year of any taxpayer described in subsection (b) (notwith-8
39	39	standing section 207 of the Social Security Act) includes 9
40	40	Social Security benefits in an amount equal to the lesser 10
41	41	of— 11
42	42	‘‘(1) 85 percent of the Social Security benefits 12
43	43	received during the taxable year, or 13
44	44	‘‘(2) 85 percent of the excess described in sub-14
45	45	section (b)(1).’’. 15
46	46	(b) B
47	47	ASEAMOUNT.—Subsection (c) of section 86 of 16
48	48	such Code is amended to read as follows: 17
49	49	‘‘(c) B
50	50	ASEAMOUNT.— 18
51	51	‘‘(1) I
52	52	N GENERAL.—For purposes of this sec-19
53	53	tion, the term ‘base amount’ means— 20
54	54	‘‘(A) except as otherwise provided in this 21
55	55	subsection, $34,000, 22
56	56	‘‘(B) $68,000 in the case of a joint return, 23
57	57	and 24
58	58	‘‘(C) zero in the case of a taxpayer who— 25
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61	61	•HR 2266 IH
62	62	‘‘(i) is married as of the close of the 1
63	63	taxable year (within the meaning of section 2
64	64	7703) but does not file a joint return for 3
65	65	such year, and 4
66	66	‘‘(ii) does not live apart from his 5
67	67	spouse at all times during the taxable year. 6
68	68	‘‘(2) I
69	69	NFLATION ADJUSTMENT .— 7
70	70	‘‘(A) I
71	71	N GENERAL.—In the case of any 8
72	72	taxable year beginning after 2025, each of the 9
73	73	dollar amounts in paragraph (1) shall be in-10
74	74	creased by an amount equal to— 11
75	75	‘‘(i) such dollar amount, multiplied by 12
76	76	‘‘(ii) the cost-of-living adjustment de-13
77	77	termined under section 1(f)(3) for the cal-14
78	78	endar year, determined by substituting 15
79	79	‘calendar year 2024’ for ‘calendar year 16
80	80	2016’ in subparagraph (A)(ii) thereof. 17
81	81	‘‘(B) R
82	82	OUNDING.—If any amount deter-18
83	83	mined under subparagraph (A) is not a multiple 19
84	84	of $1,000, such amount shall be rounded to the 20
85	85	nearest multiple of $1,000.’’. 21
86	86	(c) S
87	87	OCIALSECURITYTRUSTFUNDSHELDHARM-22
88	88	LESS.—There are hereby appropriated (out of any money 23
89	89	in the Treasury not otherwise appropriated) for each fiscal 24
90	90	year to each fund under the Social Security Act or the 25
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93	93	•HR 2266 IH
94	94	Railroad Retirement Act of 1974 an amount equal to the 1
95	95	reduction in the transfers to such fund for such fiscal year 2
96	96	by reason of the amendments made by this section. 3
97	97	(d) E
98	98	FFECTIVEDATE.—The amendments made by 4
99	99	this section shall apply to taxable years beginning after 5
100	100	December 31, 2025. 6
101	101	SEC. 3. REALLOCATING NON-SECURITY DISCRETIONARY 7
102	102	APPROPRIATIONS TO SUPPORT RETIREE TAX 8
103	103	RELIEF. 9
104	104	(a) R
105	105	ESCISSION.—Subject to subsection (c), for fiscal 10
106	106	year 2027, and each fiscal year thereafter, effective on the 11
107	107	day after the date on which appropriations are made avail-12
108	108	able through September 30 of the applicable fiscal year 13
109	109	for the entire Federal Government, there is rescinded an 14
110	110	amount equal to the total cost for such fiscal year, on a 15
111	111	pro rata basis, from amounts made available through reg-16
112	112	ular appropriation Acts. 17
113	113	(b) R
114	114	EGULARAPPROPRIATIONACT.—For purposes 18
115	115	of this section, the term ‘‘regular appropriation Act’’— 19
116	116	(1) means an annual appropriation Act (as de-20
117	117	scribed in section 105 of title 1, United States Code) 21
118	118	providing new budget authority (as defined in sec-22
119	119	tion 3 of the Congressional Budget and Impound-23
120	120	ment Control Act of 1974 (2 U.S.C. 622)) for the 24
121	121	programs, projects, and activities under the jurisdic-25
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124	124	•HR 2266 IH
125	125	tion of a subcommittee of the Committee on Appro-1
126	126	priations of the Senate; and 2
127	127	(2) includes— 3
128	128	(A) a title, division, or other subdivision of 4
129	129	an Act or resolution that, if it were a separate 5
130	130	Act, would be an Act described in paragraph 6
131	131	(1); and 7
132	132	(B) a resolution or Act, or a title, division, 8
133	133	or other subdivision of a resolution or Act, mak-9
134	134	ing continuing appropriations for all, or a por-10
135	135	tion of, a fiscal year. 11
136	136	(c) E
137	137	XCLUSION.—Subsection (a) shall not apply with 12
138	138	respect to any discretionary appropriations included in the 13
139	139	security category (as defined in Section 250(c) of the Bal-14
140	140	anced Budget and Emergency Deficit Control Act of 1985 15
141	141	(2 U.S.C. 900(c))). 16
142	142	(d) T
143	143	OTALCOST.—For purposes of this section, the 17
144	144	term ‘‘total cost’’ means, with respect to a fiscal year, an 18
145	145	amount (as determined by the Secretary of the Treasury) 19
146	146	equal to the total reduction in the transfers to each fund 20
147	147	under the Social Security Act or the Railroad Retirement 21
148	148	Act of 1974 for such fiscal year by reason of the amend-22
149	149	ments made by section 2(b) (as determined without re-23
150	150	spect to any appropriation made pursuant to section 2(c)). 24
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154	154	(e) OMB REPORT.—Not later than January 1, 2028, 1
155	155	and annually thereafter, the Director of the Office of Man-2
156	156	agement and Budget shall publish a report detailing any 3
157	157	rescissions made under this section with respect to the 4
158	158	most recently completed fiscal year. 5
159	159	Æ
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