Us Congress 2025-2026 Regular Session

Us Congress Senate Bill SB770 Compare Versions

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

Old	New	Differences
1	1	II
2	2	119THCONGRESS
3	3	1
4	4	STSESSION S. 770
5	5	To enhance Social Security benefits and ensure the long-term solvency of
6	6	the Social Security program.
7	7	IN THE SENATE OF THE UNITED STATES
8	8	FEBRUARY27, 2025
9	9	Mr. S
10	10	ANDERS(for himself, Ms. WARREN, Mr. MERKLEY, Mr. WELCH, Mr.
11	11	P
12	12	ADILLA, Ms. SMITH, Mr. VANHOLLEN, Mr. MARKEY, Mr. BOOKER,
13	13	Mrs. G
14	14	ILLIBRAND, and Mr. WHITEHOUSE) introduced the following bill;
15	15	which was read twice and referred to the Committee on Finance
16	16	A BILL
17	17	To enhance Social Security benefits and ensure the long-
18	18	term solvency of the Social Security program.
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; TABLE OF CONTENTS. 3
22	22	(a) S
23	23	HORTTITLE.—This Act may be cited as the 4
24	24	‘‘Social Security Expansion Act’’. 5
25	25	(b) T
26	26	ABLE OFCONTENTS.—The table of contents of 6
27	27	this Act is as follows: 7
28	28	Sec. 1. Short title; table of contents.
29	29	Sec. 2. Across-the-board benefit increase.
30	30	Sec. 3. Computation of cost-of-living increases.
31	31	Sec. 4. Increase in minimum benefit for lifetime low earners based on years in
32	32	the workforce.
33	33	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6211 E:\BILLS\S770.IS S770
34	34	kjohnson on DSK7ZCZBW3PROD with $$_JOB 2
35	35	•S 770 IS
36	36	Sec. 5. Extended benefit eligibility for children who are full-time students.
37	37	Sec. 6. Payroll tax on remuneration up to contribution and benefit base and
38	38	more than $250,000.
39	39	Sec. 7. Tax on net earnings from self-employment up to contribution and ben-
40	40	efit base and more than $250,000.
41	41	Sec. 8. Tax on investment gain.
42	42	Sec. 9. Social Security Trust Fund established.
43	43	SEC. 2. ACROSS-THE-BOARD BENEFIT INCREASE.
44	44	1
45	45	(a) I
46	46	NCREASE OF FIRSTBENDPOINTPERCENT-2
47	47	AGE.—Section 215(a)(1)(A)(i) of the Social Security Act 3
48	48	(42 U.S.C. 415(a)(1)(A)(i)) is amended by striking ‘‘90 4
49	49	percent’’ and inserting ‘‘95 percent’’. 5
50	50	(b) A
51	51	DJUSTMENTTOBENDPOINTAMOUNT.— 6
52	52	(1) I
53	53	N GENERAL.—Section 215(a)(1)(B) of the 7
54	54	Social Security Act (42 U.S.C. 415(a)(1)(B)) is 8
55	55	amended— 9
56	56	(A) by redesignating clause (iii) as clause 10
57	57	(iv); and 11
58	58	(B) by inserting after clause (ii) the fol-12
59	59	lowing new clause: 13
60	60	‘‘(iii) For an individual who is eligible for an 14
61	61	old-age or disability insurance benefit (or who dies 15
62	62	before becoming eligible for such a benefit) in any 16
63	63	calendar year after 2025, the amount determined for 17
64	64	the individual under clause (ii) of this subparagraph 18
65	65	for purposes of subparagraph (A)(i)(I) shall be in-19
66	66	creased by 18 percent.’’. 20
67	67	(2) C
68	68	ONFORMING AMENDMENT .—Clause (iv) of 21
69	69	section 215(a)(1)(B) of the Social Security Act (42 22
70	70	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
71	71	kjohnson on DSK7ZCZBW3PROD with $$_JOB 3
72	72	•S 770 IS
73	73	U.S.C. 415(a)(1)(B)), as redesignated by paragraph 1
74	74	(1), is amended by inserting ‘‘(after the application 2
75	75	of clause (iii), when applicable)’’ after ‘‘clause (ii)’’. 3
76	76	(c) E
77	77	FFECTIVEDATE.— 4
78	78	(1) I
79	79	N GENERAL.—The amendments made by 5
80	80	this section shall take effect on January 1, 2026, 6
81	81	and shall apply with respect to monthly insurance 7
82	82	benefits payable under title II of the Social Security 8
83	83	Act (42 U.S.C. 401 et seq.) for months in calendar 9
84	84	years beginning on or after such date. 10
85	85	(2) R
86	86	ECOMPUTATION OF PRIMARY INSURANCE 11
87	87	AMOUNTS.— 12
88	88	(A) I
89	89	N GENERAL.—Notwithstanding sec-13
90	90	tion 215(f) of the Social Security Act (42 14
91	91	U.S.C. 415(f)), the Commissioner of Social Se-15
92	92	curity shall recompute primary insurance 16
93	93	amounts to the extent necessary to carry out 17
94	94	the amendments to this section. 18
95	95	(B) R
96	96	ULE OF APPLICATION .—In recom-19
97	97	puting the primary insurance amount of an in-20
98	98	dividual who initially became eligible for old-age 21
99	99	or disability insurance benefits before January 22
100	100	1, 2026, the Commissioner of Social Security 23
101	101	shall apply the increase described in clause (iii) 24
102	102	of section 215(a)(1)(B) of the Social Security 25
103	103	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
104	104	kjohnson on DSK7ZCZBW3PROD with $$_JOB 4
105	105	•S 770 IS
106	106	Act (as added by subsection (b)(1)(B)) to the 1
107	107	amount determined under clause (ii) of such 2
108	108	section 215(a)(1)(B) for the calendar year in 3
109	109	which the individual initially became eligible for 4
110	110	such benefits. 5
111	111	SEC. 3. COMPUTATION OF COST-OF-LIVING INCREASES. 6
112	112	(a) I
113	113	NGENERAL.—Section 215(i)(1) of the Social Se-7
114	114	curity Act (42 U.S.C. 415(i)(1)) is amended by adding 8
115	115	at the end the following new subparagraph: 9
116	116	‘‘(H) the term ‘Consumer Price Index’ means 10
117	117	the Consumer Price Index for Elderly Consumers 11
118	118	(CPI–E, as published by the Bureau of Labor Sta-12
119	119	tistics of the Department of Labor).’’. 13
120	120	(b) A
121	121	PPLICATION TOPRE-1979 LAW.— 14
122	122	(1) I
123	123	N GENERAL.—Section 215(i)(1) of the So-15
124	124	cial Security Act as in effect in December 1978, and 16
125	125	as applied in certain cases under the provisions of 17
126	126	such Act as in effect after December 1978, is 18
127	127	amended by adding at the end the following new 19
128	128	subparagraph: 20
129	129	‘‘(D) the term ‘Consumer Price Index’ means 21
130	130	the Consumer Price Index for Elderly Consumers 22
131	131	(CPI–E, as published by the Bureau of Labor Sta-23
132	132	tistics of the Department of Labor).’’. 24
133	133	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
134	134	kjohnson on DSK7ZCZBW3PROD with $$_JOB 5
135	135	•S 770 IS
136	136	(2) CONFORMING CHANGE .—Section 215(i)(4) 1
137	137	of the Social Security Act (42 U.S.C. 415(i)(4)) is 2
138	138	amended— 3
139	139	(A) by striking ‘‘and by section 9001’’ and 4
140	140	inserting ‘‘, section 9001’’; and 5
141	141	(B) by inserting ‘‘and section 3 of the So-6
142	142	cial Security Expansion Act,’’ after ‘‘1986,’’. 7
143	143	(c) N
144	144	OEFFECT ONADJUSTMENTSUNDEROTHER 8
145	145	L
146	146	AWS.—Section 215(i) of the Social Security Act (42 9
147	147	U.S.C. 415(i)) is amended by adding at the end the fol-10
148	148	lowing: 11
149	149	‘‘(6) Any provision of law (other than in this title, 12
150	150	title VIII, or title XVI) which provides for adjustment of 13
151	151	an amount based on a change in benefit amounts resulting 14
152	152	from a determination made under this subsection shall be 15
153	153	applied and administered without regard to the amend-16
154	154	ments made by section 3 of the Social Security Expansion 17
155	155	Act, and, for purposes of making such an adjustment 18
156	156	under such a provision, this subsection as in effect on the 19
157	157	day before the date of enactment of such Act shall con-20
158	158	tinue to apply.’’. 21
159	159	(d) P
160	160	UBLICATION OFCONSUMERPRICEINDEX FOR 22
161	161	E
162	162	LDERLYCONSUMERS.—The Bureau of Labor Statistics 23
163	163	of the Department of Labor shall prepare and publish the 24
164	164	index authorized by section 191 of the Older Americans 25
165	165	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
166	166	kjohnson on DSK7ZCZBW3PROD with $$_JOB 6
167	167	•S 770 IS
168	168	Amendments Act of 1987 (29 U.S.C. 2 note) for each cal-1
169	169	endar month, beginning with July of the calendar year fol-2
170	170	lowing the calendar year in which this Act is enacted, and 3
171	171	such index shall be known as the ‘‘Consumer Price Index 4
172	172	for Elderly Consumers’’. 5
173	173	(e) E
174	174	FFECTIVEDATE.—The amendments made by 6
175	175	subsection (a) shall apply to determinations made with re-7
176	176	spect to cost-of-living computation quarters (as defined in 8
177	177	section 215(i)(1)(B) of the Social Security Act (42 U.S.C. 9
178	178	415(i)(1)(B))) ending on or after September 30 of the sec-10
179	179	ond calendar year following the calendar year in which this 11
180	180	Act is enacted. 12
181	181	SEC. 4. INCREASE IN MINIMUM BENEFIT FOR LIFETIME 13
182	182	LOW EARNERS BASED ON YEARS IN THE 14
183	183	WORKFORCE. 15
184	184	(a) I
185	185	NGENERAL.—Section 215(a)(1) of the Social 16
186	186	Security Act (42 U.S.C. 415(a)(1)) is amended— 17
187	187	(1) by redesignating subparagraph (D) as sub-18
188	188	paragraph (E); and 19
189	189	(2) by inserting after subparagraph (C) the fol-20
190	190	lowing new subparagraph: 21
191	191	‘‘(D)(i) Effective with respect to the benefits of indi-22
192	192	viduals who become eligible for old-age insurance benefits 23
193	193	or disability insurance benefits (or die before becoming so 24
194	194	eligible) after 2025, no primary insurance amount com-25
195	195	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
196	196	kjohnson on DSK7ZCZBW3PROD with $$_JOB 7
197	197	•S 770 IS
198	198	puted under subparagraph (A) may be less than the great-1
199	199	er of— 2
200	200	‘‘(I) the minimum monthly amount computed 3
201	201	under subparagraph (C); or 4
202	202	‘‘(II) in the case of an individual who has more 5
203	203	than 10 years of work (as defined in clause (iv)(I)), 6
204	204	the alternative minimum amount determined under 7
205	205	clause (ii). 8
206	206	‘‘(ii)(I) The alternative minimum amount determined 9
207	207	under this clause is the applicable percentage of
208	208	1
209	209	⁄12of 10
210	210	the annual dollar amount determined under clause (iii) for 11
211	211	the year in which the amount is determined. 12
212	212	‘‘(II) For purposes of subclause (I), the applicable 13
213	213	percentage is the percentage specified in connection with 14
214	214	the number of years of work, as set forth in the following 15
215	215	table: 16
216	216	‘‘If the number of years The applicable
217	217	of work is: percentage is:
218	218	11 ...................................................................................... 6.25 percent
219	219	12 ...................................................................................... 12.50 percent
220	220	13 ...................................................................................... 18.75 percent
221	221	14 ...................................................................................... 25.00 percent
222	222	15 ...................................................................................... 31.25 percent
223	223	16 ...................................................................................... 37.50 percent
224	224	17 ...................................................................................... 43.75 percent
225	225	18 ...................................................................................... 50.00 percent
226	226	19 ...................................................................................... 56.25 percent
227	227	20 ...................................................................................... 62.50 percent
228	228	21 ...................................................................................... 68.75 percent
229	229	22 ...................................................................................... 75.00 percent
230	230	23 ...................................................................................... 81.25 percent
231	231	24 ...................................................................................... 87.50 percent
232	232	25 ...................................................................................... 93.75 percent
233	233	26 ...................................................................................... 100.00 percent
234	234	27 ...................................................................................... 106.25 percent
235	235	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6211 E:\BILLS\S770.IS S770
236	236	kjohnson on DSK7ZCZBW3PROD with $$_JOB 8
237	237	•S 770 IS
238	238	‘‘If the number of years The applicable
239	239	of work is: percentage is:
240	240	28 ...................................................................................... 112.50 percent
241	241	29 ...................................................................................... 118.75 percent
242	242	30 or more ........................................................................ 125.00 percent.
243	243	‘‘(iii) The annual dollar amount determined under 1
244	244	this clause is— 2
245	245	‘‘(I) for calendar year 2026, the poverty guide-3
246	246	line for 2025; and 4
247	247	‘‘(II) for any calendar year after 2026, the an-5
248	248	nual dollar amount for 2026 multiplied by the ratio 6
249	249	of— 7
250	250	‘‘(aa) the national average wage index (as 8
251	251	defined in section 209(k)(1)) for the second cal-9
252	252	endar year preceding the calendar year for 10
253	253	which the determination is made, to 11
254	254	‘‘(bb) the national average wage index (as 12
255	255	so defined) for 2024. 13
256	256	‘‘(iv) For purposes of this subparagraph— 14
257	257	‘‘(I) the term ‘year of work’ means, with re-15
258	258	spect to an individual, a year to which 4 quarters of 16
259	259	coverage have been credited based on such individ-17
260	260	ual’s wages and self-employment income; and 18
261	261	‘‘(II) the term ‘poverty guideline for 2025’ 19
262	262	means the annual poverty guideline for 2025 (as up-20
263	263	dated annually in the Federal Register by the De-21
264	264	partment of Health and Human Services under the 22
265	265	authority of section 673(2) of the Omnibus Budget 23
266	266	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
267	267	kjohnson on DSK7ZCZBW3PROD with $$_JOB 9
268	268	•S 770 IS
269	269	Reconciliation Act of 1981) as applicable to a single 1
270	270	individual.’’. 2
271	271	(b) R
272	272	ECOMPUTATION.—Notwithstanding section 3
273	273	215(f)(1) of the Social Security Act, the Commissioner of 4
274	274	Social Security shall recompute primary insurance 5
275	275	amounts originally computed for months prior to Novem-6
276	276	ber 2025 to the extent necessary to carry out the amend-7
277	277	ments made by this section. 8
278	278	(c) C
279	279	ONFORMINGAMENDMENT.—Section 209(k)(1) 9
280	280	of such Act (42 U.S.C. 409(k)(1)) is amended by inserting 10
281	281	‘‘215(a)(1)(E),’’ after ‘‘215(a)(1)(D),’’. 11
282	282	SEC. 5. EXTENDED BENEFIT ELIGIBILITY FOR CHILDREN 12
283	283	WHO ARE FULL-TIME STUDENTS. 13
284	284	(a) I
285	285	NGENERAL.— 14
286	286	(1) I
287	287	N GENERAL.—Section 202(d) of the Social 15
288	288	Security Act (42 U.S.C. 402(d)) is amended— 16
289	289	(A) in paragraph (1)— 17
290	290	(i) in subparagraph (B)— 18
291	291	(I) by striking ‘‘or (ii)’’ and in-19
292	292	serting ‘‘(ii)’’; and 20
293	293	(II) by inserting ‘‘or (iii) was the 21
294	294	child of an individual entitled to dis-22
295	295	ability insurance benefits or of an in-23
296	296	dividual who dies a fully or currently 24
297	297	insured individual and was a full-time 25
298	298	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
299	299	kjohnson on DSK7ZCZBW3PROD with $$_JOB 10
300	300	•S 770 IS
301	301	student at an educational institution 1
302	302	and had not attained the age of 22,’’ 2
303	303	after ‘‘22,’’; 3
304	304	(ii) in subparagraph (E)— 4
305	305	(I) by striking ‘‘and (ii)’’ and in-5
306	306	serting ‘‘(ii)’’; and 6
307	307	(II) by inserting ‘‘and (iii) is not 7
308	308	a full-time student at an educational 8
309	309	institution during any part of such 9
310	310	month (in the case of a child who is 10
311	311	the child of an individual entitled to 11
312	312	disability insurance benefits or of an 12
313	313	individual who dies a fully or cur-13
314	314	rently insured individual)’’ before the 14
315	315	comma at the end; 15
316	316	(iii) in subparagraph (F), by striking 16
317	317	clauses (i) and (ii) and inserting the fol-17
318	318	lowing: 18
319	319	‘‘(i) in the case of a child who is the child 19
320	320	of an individual entitled to old-age insurance 20
321	321	benefits— 21
322	322	‘‘(I) the first month during no part of 22
323	323	which the child is a full-time elementary or 23
324	324	secondary school student, or 24
325	325	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
326	326	kjohnson on DSK7ZCZBW3PROD with $$_JOB 11
327	327	•S 770 IS
328	328	‘‘(II) the month in which the child at-1
329	329	tains the age of 19, and 2
330	330	‘‘(ii) in the case of a child who is the child 3
331	331	of an individual entitled to disability insurance 4
332	332	benefits or of an individual who dies a fully or 5
333	333	currently insured individual— 6
334	334	‘‘(I) the first month during no part of 7
335	335	which the child is a full-time student at an 8
336	336	educational institution, or 9
337	337	‘‘(II) the month in which the child at-10
338	338	tains the age of 22,’’; and 11
339	339	(iv) in subparagraph (G), by striking 12
340	340	clauses (ii) and (iii) and inserting the fol-13
341	341	lowing: 14
342	342	‘‘(ii) in the case of a child who is the child 15
343	343	of an individual entitled to old-age insurance 16
344	344	benefits— 17
345	345	‘‘(I) the first month during no part of 18
346	346	which the child is a full-time elementary or 19
347	347	secondary school student, or 20
348	348	‘‘(II) the month in which the child at-21
349	349	tains the age of 19, and 22
350	350	‘‘(iii) in the case of a child who is the child 23
351	351	of an individual entitled to disability insurance 24
352	352	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00011 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
353	353	kjohnson on DSK7ZCZBW3PROD with $$_JOB 12
354	354	•S 770 IS
355	355	benefits or of an individual who dies a fully or 1
356	356	currently insured individual— 2
357	357	‘‘(I) the first month during no part of 3
358	358	which the child is a full-time student at an 4
359	359	educational institution, or 5
360	360	‘‘(II) the month in which the child at-6
361	361	tains the age of 22,’’; 7
362	362	(B) in paragraph (6)— 8
363	363	(i) in subparagraph (A)— 9
364	364	(I) by striking ‘‘or (ii)’’ and in-10
365	365	serting ‘‘(ii)’’; and 11
366	366	(II) by inserting ‘‘or (iii) is the 12
367	367	child of an individual entitled to dis-13
368	368	ability insurance benefits or of an in-14
369	369	dividual who dies a fully or currently 15
370	370	insured individual and is a full-time 16
371	371	student at an educational institution 17
372	372	and has not attained the age of 22,’’ 18
373	373	after ‘‘22,’’; and 19
374	374	(ii) by striking subparagraphs (D) 20
375	375	and (E) and inserting the following: 21
376	376	‘‘(D) the earlier of— 22
377	377	‘‘(i) in the case of a child who is the child 23
378	378	of an individual entitled to old-age insurance 24
379	379	benefits— 25
380	380	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
381	381	kjohnson on DSK7ZCZBW3PROD with $$_JOB 13
382	382	•S 770 IS
383	383	‘‘(I) the first month during no part of 1
384	384	which the child is a full-time elementary or 2
385	385	secondary school student; or 3
386	386	‘‘(II) the month in which the child at-4
387	387	tains the age of 19; and 5
388	388	‘‘(ii) in the case of a child who is the child 6
389	389	of an individual entitled to disability insurance 7
390	390	benefits or of an individual who dies a fully or 8
391	391	currently insured individual— 9
392	392	‘‘(I) the first month during no part of 10
393	393	which the child is a full-time student at an 11
394	394	educational institution; or 12
395	395	‘‘(II) the month in which the child at-13
396	396	tains the age of 22, 14
397	397	but only if the child is not under a disability (as 15
398	398	so defined) in such earlier month; or 16
399	399	‘‘(E) if the child was under a disability (as so 17
400	400	defined), the termination month (as defined in para-18
401	401	graph (1)(G)(i)), subject to section 223(e), or (if 19
402	402	later) the earlier of— 20
403	403	‘‘(i) in the case of a child who is the child 21
404	404	of an individual entitled to old-age insurance 22
405	405	benefits— 23
406	406	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00013 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
407	407	kjohnson on DSK7ZCZBW3PROD with $$_JOB 14
408	408	•S 770 IS
409	409	‘‘(I) the first month during no part of 1
410	410	which the child is a full-time elementary or 2
411	411	secondary school student; or 3
412	412	‘‘(II) the month in which the child at-4
413	413	tains the age of 19; and 5
414	414	‘‘(ii) in the case of a child who is the child 6
415	415	of an individual entitled to disability insurance 7
416	416	benefits or of an individual who dies a fully or 8
417	417	currently insured individual— 9
418	418	‘‘(I) the first month during no part of 10
419	419	which the child is a full-time student at an 11
420	420	educational institution; or 12
421	421	‘‘(II) the month in which the child at-13
422	422	tains the age of 22.’’; and 14
423	423	(C) in paragraph (7), by adding at the end 15
424	424	the following new paragraphs: 16
425	425	‘‘(E) The term ‘full-time student at an edu-17
426	426	cational institution’ means an individual who is in 18
427	427	full-time attendance as a student at an elementary 19
428	428	school (but only in the case of an individual who has 20
429	429	not attained the age of 19) or a secondary school or 21
430	430	an institution described in section 102 of the Higher 22
431	431	Education Act of 1965 (20 U.S.C. 1002), as deter-23
432	432	mined by the Commissioner of Social Security (in 24
433	433	accordance with regulations prescribed by the Com-25
434	434	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00014 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
435	435	kjohnson on DSK7ZCZBW3PROD with $$_JOB 15
436	436	•S 770 IS
437	437	missioner) in the light of the standards and prac-1
438	438	tices of the schools and institutions involved, except 2
439	439	that no individual shall be considered a ‘full-time 3
440	440	student at an educational institution’ if the indi-4
441	441	vidual is paid by his employer while attending a 5
442	442	school or institution at the request, or pursuant to 6
443	443	a requirement, of his employer. An individual shall 7
444	444	not be considered a ‘full-time student at an edu-8
445	445	cational institution’ for the purpose of this section 9
446	446	while that individual is confined in a jail, prison, or 10
447	447	other penal institution or correctional facility, pursu-11
448	448	ant to the individual’s conviction of an offense (com-12
449	449	mitted after the effective date of this sentence) 13
450	450	which constituted a felony under applicable law. An 14
451	451	individual who is determined to be a full-time stu-15
452	452	dent at an educational institution shall be deemed to 16
453	453	be such a student throughout the month with re-17
454	454	spect to which such determination is made. 18
455	455	‘‘(F) Except to the extent provided in such reg-19
456	456	ulations, an individual shall be deemed to be a full- 20
457	457	time student at a school or educational institution 21
458	458	during any period of nonattendance at a school or 22
459	459	institution at which he has been in full-time attend-23
460	460	ance if (i) such period is 4 calendar months or less, 24
461	461	and (ii) the individual shows to the satisfaction of 25
462	462	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00015 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
463	463	kjohnson on DSK7ZCZBW3PROD with $$_JOB 16
464	464	•S 770 IS
465	465	the Commissioner of Social Security that the indi-1
466	466	vidual intends to continue to be in full-time attend-2
467	467	ance at a secondary school or institution described 3
468	468	in section 102 of the Higher Education Act of 1965 4
469	469	(20 U.S.C. 1002) immediately following such period. 5
470	470	An individual who does not meet the requirement of 6
471	471	clause (ii) with respect to such period of nonattend-7
472	472	ance shall be deemed to have met such requirement 8
473	473	(as of the beginning of such period) if he is in full- 9
474	474	time attendance at such a school or institution im-10
475	475	mediately following such period. 11
476	476	‘‘(G) A child who attains age 22 at a time when 12
477	477	the child is a full-time student of an educational in-13
478	478	stitution (as defined in subparagraph (E) and with-14
479	479	out application of subparagraph (F)) but has not (at 15
480	480	such time) completed the requirements for, or re-16
481	481	ceived, a diploma or equivalent certificate from a 17
482	482	secondary school (as defined in subparagraph (C)(i)) 18
483	483	or, if such child is a student at an educational insti-19
484	484	tution described in section 102 of the Higher Edu-20
485	485	cation Act of 1965, a diploma, degree, or equivalent 21
486	486	degree from such an institution, shall be deemed (for 22
487	487	purposes of determining whether the child’s entitle-23
488	488	ment to benefits under this subsection has termi-24
489	489	nated under paragraph (1)(F) and for purposes of 25
490	490	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00016 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
491	491	kjohnson on DSK7ZCZBW3PROD with $$_JOB 17
492	492	•S 770 IS
493	493	determining his initial entitlement to such benefits 1
494	494	under clause (iii) of paragraph (1)(B)) not to have 2
495	495	attained such age until the first day of the first 3
496	496	month following the end of the quarter or semester 4
497	497	in which he is enrolled at such time (or, if the sec-5
498	498	ondary school or educational institution in which he 6
499	499	is enrolled is not operated on a quarter or semester 7
500	500	system, until the first day of the first month fol-8
501	501	lowing the completion of the course in which the 9
502	502	child is so enrolled or until the first day of the third 10
503	503	month beginning after such time, whichever first oc-11
504	504	curs).’’. 12
505	505	(2) E
506	506	FFECTIVE DATE.—The amendments made 13
507	507	by this subsection shall apply to child’s insurance 14
508	508	benefits that are payable for months beginning on or 15
509	509	after January 1, 2026. 16
510	510	(b) R
511	511	AILROADRETIREMENTACT.— 17
512	512	(1) Section 2(d) of the Railroad Retirement Act 18
513	513	of 1974 (45 U.S.C. 232(2)(d)) is amended— 19
514	514	(A) in clause (iii) of paragraph (1), by 20
515	515	striking ‘‘will be less than nineteen years of age 21
516	516	and a full-time elementary or secondary school 22
517	517	student’’ and inserting ‘‘will be less than 22 23
518	518	years of age and a full-time student at an edu-24
519	519	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00017 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
520	520	kjohnson on DSK7ZCZBW3PROD with $$_JOB 18
521	521	•S 770 IS
522	522	cational institution (as defined in section 1
523	523	202(d)(7)(E) of the Social Security Act)’’; and 2
524	524	(B) in paragraph (4)— 3
525	525	(i) by striking ‘‘(defining the terms 4
526	526	‘full-time elementary or secondary school 5
527	527	student’ and ‘elementary or secondary 6
528	528	school’)’’; 7
529	529	(ii) by striking ‘‘nineteen’’ and insert-8
530	530	ing ‘‘22’’; 9
531	531	(iii) by striking ‘‘full-time elementary 10
532	532	or secondary school student’’ and inserting 11
533	533	‘‘full-time student at an educational insti-12
534	534	tution’’; 13
535	535	(iv) by striking ‘‘subparagraph (A) of 14
536	536	paragraph (7) of section 202(d) of the So-15
537	537	cial Security Act and without the applica-16
538	538	tion of subparagraph (B)’’ and inserting 17
539	539	‘‘subparagraph (E) of section 202(d)(7) of 18
540	540	the Social Security Act, without regard to 19
541	541	subparagraph (F) of such section’’; 20
542	542	(v) by striking ‘‘a diploma or equiva-21
543	543	lent certificate from a secondary school (as 22
544	544	defined in section 202(d)(7)(c)(i) of the 23
545	545	Social Security Act)’’ and inserting ‘‘a di-24
546	546	ploma, degree, or equivalent certificate 25
547	547	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00018 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
548	548	kjohnson on DSK7ZCZBW3PROD with $$_JOB 19
549	549	•S 770 IS
550	550	from a secondary school or educational in-1
551	551	stitution described in section 202(d)(7)(E) 2
552	552	of the Social Security Act’’; and 3
553	553	(vi) by striking ‘‘elementary or sec-4
554	554	ondary school in which he is enrolled’’ and 5
555	555	inserting ‘‘school or institution in which 6
556	556	the child is enrolled’’. 7
557	557	(2) Section 5(c)(7) of the Railroad Retirement 8
558	558	Act of 1974 (45 U.S.C. 235(c)(7)) is amended— 9
559	559	(A) by striking ‘‘full-time elementary or 10
560	560	secondary school student’’ and inserting ‘‘full- 11
561	561	time student at an educational institution’’; and 12
562	562	(B) by striking ‘‘19’’ and inserting ‘‘22’’. 13
563	563	(3) The amendments made by this subsection 14
564	564	shall apply to benefits under the Railroad Retire-15
565	565	ment Act of 1974 that are payable for months be-16
566	566	ginning on or after January 1, 2026. 17
567	567	SEC. 6. PAYROLL TAX ON REMUNERATION UP TO CON-18
568	568	TRIBUTION AND BENEFIT BASE AND MORE 19
569	569	THAN $250,000. 20
570	570	(a) I
571	571	NGENERAL.—Paragraph (1) of section 3121(a) 21
572	572	of the Internal Revenue Code of 1986 is amended to read 22
573	573	as follows: 23
574	574	‘‘(1) in the case of taxes imposed by sections 24
575	575	3101(a) and 3111(a), for any calendar year in which 25
576	576	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00019 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
577	577	kjohnson on DSK7ZCZBW3PROD with $$_JOB 20
578	578	•S 770 IS
579	579	the contribution and benefit base (as determined 1
580	580	under section 230 of the Social Security Act) is less 2
581	581	than $250,000, so much of the remuneration (other 3
582	582	than remuneration referred to in the succeeding 4
583	583	paragraphs of this subsection) with respect to em-5
584	584	ployment that has been paid to an individual by an 6
585	585	employer during the calendar year as exceeds such 7
586	586	contribution and benefit base but does not exceed 8
587	587	$250,000;’’. 9
588	588	(b) C
589	589	ONFORMINGAMENDMENTS.— 10
590	590	(1) S
591	591	UCCESSOR EMPLOYERS .—Section 3121 of 11
592	592	the Internal Revenue Code of 1986 is amended by 12
593	593	adding at the end the following new subsection: 13
594	594	‘‘(aa) S
595	595	PECIALRULES FORSUCCESSOREMPLOY-14
596	596	ERS.—For purposes of subsection (a)(1), if an employer 15
597	597	(hereinafter referred to as successor employer) during any 16
598	598	calendar year acquires substantially all the property used 17
599	599	in a trade or business of another employer (hereinafter 18
600	600	referred to as a predecessor), or used in a separate unit 19
601	601	of a trade or business of a predecessor, and immediately 20
602	602	after the acquisition employs in his trade or business an 21
603	603	individual who immediately prior to the acquisition was 22
604	604	employed in the trade or business of such predecessor, 23
605	605	then, for the purpose of determining the amount of remu-24
606	606	neration paid by the successor employer under such sub-25
607	607	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00020 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
608	608	kjohnson on DSK7ZCZBW3PROD with $$_JOB 21
609	609	•S 770 IS
610	610	section, any remuneration (other than remuneration re-1
611	611	ferred to in the paragraphs succeeding paragraph (1) of 2
612	612	subsection (a)) with respect to employment paid (or con-3
613	613	sidered under this subsection as having been paid) to such 4
614	614	individual by such predecessor during such calendar year 5
615	615	and prior to such acquisition shall be considered as having 6
616	616	been paid by such successor employer.’’. 7
617	617	(2) A
618	618	PPLICATION TO RAILROAD RETIREMENT 8
619	619	TAXES.—Clause (i) of section 3231(e)(2)(A) of such 9
620	620	Code is amended to read as follows: 10
621	621	‘‘(i) I
622	622	N GENERAL.—For any calendar 11
623	623	year in which the applicable base is less 12
624	624	than $250,000, the term ‘compensation’ 13
625	625	does not include so much of the remunera-14
626	626	tion paid during any calendar year to an 15
627	627	individual by an employer for services ren-16
628	628	dered as an employee to such employer as 17
629	629	exceeds the applicable base but does not 18
630	630	exceed $250,000.’’. 19
631	631	(c) E
632	632	FFECTIVEDATE.—The amendments made by 20
633	633	this section shall apply to remuneration paid on or after 21
634	634	January 1 of the first calendar year that begins after the 22
635	635	date of enactment of this Act. 23
636	636	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00021 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
637	637	kjohnson on DSK7ZCZBW3PROD with $$_JOB 22
638	638	•S 770 IS
639	639	SEC. 7. TAX ON NET EARNINGS FROM SELF-EMPLOYMENT 1
640	640	UP TO CONTRIBUTION AND BENEFIT BASE 2
641	641	AND MORE THAN $250,000. 3
642	642	(a) I
643	643	NGENERAL.—Paragraph (1) of section 1402(b) 4
644	644	of the Internal Revenue Code of 1986 is amended to read 5
645	645	as follows: 6
646	646	‘‘(1) in the case of the tax imposed by section 7
647	647	1401(a) for any taxable year beginning in a calendar 8
648	648	year in which the contribution and benefit base (as 9
649	649	determined under section 230 of the Social Security 10
650	650	Act) is less than $250,000, the excess (if any) of— 11
651	651	‘‘(A) so much of the net earnings from 12
652	652	self-employment which is in excess of— 13
653	653	‘‘(i) an amount equal to the contribu-14
654	654	tion and benefit base (as determined under 15
655	655	section 230 of the Social Security Act) 16
656	656	which is effective for the calendar year in 17
657	657	which such taxable year begins, minus 18
658	658	‘‘(ii) the amount of the wages paid to 19
659	659	such individual during such taxable years, 20
660	660	over 21
661	661	‘‘(B) the sum of— 22
662	662	‘‘(i) the excess (if any) of— 23
663	663	‘‘(I) the net earning from self- 24
664	664	employment reduced by the excess (if 25
665	665	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00022 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
666	666	kjohnson on DSK7ZCZBW3PROD with $$_JOB 23
667	667	•S 770 IS
668	668	any) of subparagraph (A)(i) over sub-1
669	669	paragraph (A)(ii), over 2
670	670	‘‘(II) $250,000, reduced by such 3
671	671	contribution and benefit base, plus 4
672	672	‘‘(ii) the amount of the wages paid to 5
673	673	such individual during such taxable year in 6
674	674	excess of such contribution and benefit 7
675	675	base and not in excess of $250,000; or’’. 8
676	676	(b) E
677	677	FFECTIVEDATE.—The amendments made by 9
678	678	this section shall apply to net earnings from self-employ-10
679	679	ment derived, and remuneration paid, on or after January 11
680	680	1 of the first calendar year that begins after the date of 12
681	681	enactment of this Act. 13
682	682	SEC. 8. TAX ON INVESTMENT GAIN. 14
683	683	(a) I
684	684	NCREASE INTAX.— 15
685	685	(1) I
686	686	N GENERAL.—Subsection (a) of section 16
687	687	1411 of the Internal Revenue Code of 1986 is 17
688	688	amended by striking ‘‘3.8 percent’’ each place it ap-18
689	689	pears and inserting ‘‘16.2 percent’’. 19
690	690	(2) C
691	691	ONFORMING AMENDMENT .—The heading 20
692	692	for chapter 2A of the Internal Revenue Code of 21
693	693	1986 is amended by striking ‘‘UNEARNED IN-22
694	694	COME MEDICARE CONTRIBUTION ’’ and 23
695	695	inserting ‘‘ADDITIONAL TAX ON UN-24
696	696	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00023 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
697	697	kjohnson on DSK7ZCZBW3PROD with $$_JOB 24
698	698	•S 770 IS
699	699	EARNED INCOME IN LIEU OF SOCIAL 1
700	700	SECURITY AND MEDICARE TAXES ’’. 2
701	701	(b) I
702	702	NCLUSION OFACTIVETRADE ORBUSINESSIN-3
703	703	COME.— 4
704	704	(1) I
705	705	N GENERAL.—Section 1411(c)(1)(A) of the 5
706	706	Internal Revenue Code of 1986 is amended— 6
707	707	(A) in clause (i), by striking ‘‘, other than 7
708	708	such income which is derived in the ordinary 8
709	709	course of a trade or business not described in 9
710	710	paragraph (2)’’, 10
711	711	(B) in clause (ii), by striking ‘‘described in 11
712	712	paragraph (2)’’ and inserting ‘‘(determined 12
713	713	under rules similar to the rules of paragraphs 13
714	714	(5) and (6) of section 469(c))’’, and 14
715	715	(C) in clause (iii), by striking ‘‘other than 15
716	716	property held in a trade or business not de-16
717	717	scribed in paragraph (2)’’. 17
718	718	(2) D
719	719	ENIAL OF DEDUCTION FOR NET OPER -18
720	720	ATING LOSSES.—Section 1411(c)(1)(B) of such Code 19
721	721	is amended by inserting ‘‘(other than the deduction 20
722	722	for net operating losses provided in section 172)’’ 21
723	723	after ‘‘net gain’’. 22
724	724	(3) C
725	725	ONFORMING AMENDMENTS .— 23
726	726	(A) Section 1411(c) of such Code is 24
727	727	amended by striking paragraphs (2), (3), and 25
728	728	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00024 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
729	729	kjohnson on DSK7ZCZBW3PROD with $$_JOB 25
730	730	•S 770 IS
731	731	(4) and by redesignating paragraphs (5) and 1
732	732	(6) as paragraphs (2) and (3), respectively. 2
733	733	(B) Section 1411(c)(3) of such Code, as 3
734	734	redesignated by subparagraph (A), is amended 4
735	735	to read as follows: 5
736	736	‘‘(3) S
737	737	PECIAL RULE.—Net investment income 6
738	738	shall not include— 7
739	739	‘‘(A) any item taken into account in deter-8
740	740	mining self-employment income for such taxable 9
741	741	year on which a tax is imposed by section 1401, 10
742	742	or 11
743	743	‘‘(B) any item taken into account in deter-12
744	744	mining wages received with respect to employ-13
745	745	ment for such taxable year on which a tax is 14
746	746	imposed by section 3101.’’. 15
747	747	(c) E
748	748	FFECTIVEDATE.—The amendments made by 16
749	749	this section shall apply to taxable years beginning after 17
750	750	the date of enactment of this Act. 18
751	751	SEC. 9. SOCIAL SECURITY TRUST FUND ESTABLISHED. 19
752	752	(a) I
753	753	NGENERAL.—Section 201(a) of the Social Secu-20
754	754	rity Act (42 U.S.C. 401(a)) is amended to read as follows: 21
755	755	‘‘(a) There is hereby created on the books of the 22
756	756	Treasury of the United States a trust fund to be known 23
757	757	as the ‘Social Security Trust Fund’. The Social Security 24
758	758	Trust Fund shall consist of the securities held by the Sec-25
759	759	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00025 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
760	760	kjohnson on DSK7ZCZBW3PROD with $$_JOB 26
761	761	•S 770 IS
762	762	retary of the Treasury for the Federal Old-Age and Sur-1
763	763	vivors Insurance Trust Fund and the Federal Disability 2
764	764	Insurance Trust Fund and the amount standing to the 3
765	765	credit of the Federal Old-Age and Survivors Insurance 4
766	766	Trust Fund and the Federal Disability Insurance Trust 5
767	767	Fund on the books of the Treasury on January 1 of the 6
768	768	first calendar year beginning after the date of the enact-7
769	769	ment of section 9 of the Social Security Expansion Act, 8
770	770	which securities and amount the Secretary of the Treasury 9
771	771	is authorized and directed to transfer to the Social Secu-10
772	772	rity Trust Fund, and, in addition, such gifts and bequests 11
773	773	as may be made as provided in subsection (i)(1), and such 12
774	774	amounts as may be appropriated to, or deposited in, the 13
775	775	Social Security Trust Fund as hereinafter provided. There 14
776	776	is hereby appropriated to the Social Security Trust Fund 15
777	777	for the first fiscal year that begins after the date of the 16
778	778	enactment of section 9 of the Social Security Expansion 17
779	779	Act, and for each fiscal year thereafter, out of any moneys 18
780	780	in the Treasury not otherwise appropriated, amounts 19
781	781	equivalent to 100 percent of— 20
782	782	‘‘(1) the taxes imposed by chapter 21 (other 21
783	783	than sections 3101(b) and 3111(b)) of the Internal 22
784	784	Revenue Code of 1986 with respect to wages (as de-23
785	785	fined in section 3121 of such Code) reported to the 24
786	786	Secretary of the Treasury pursuant to subtitle F of 25
787	787	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00026 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
788	788	kjohnson on DSK7ZCZBW3PROD with $$_JOB 27
789	789	•S 770 IS
790	790	the Internal Revenue Code of 1986, as determined 1
791	791	by the Secretary of the Treasury by applying the ap-2
792	792	plicable rates of tax under such chapter (other than 3
793	793	sections 3101(b) and 3111(b)) to such wages, which 4
794	794	wages shall be certified by the Commissioner of So-5
795	795	cial Security on the basis of the records of wages es-6
796	796	tablished and maintained by such Commissioner in 7
797	797	accordance with such reports; 8
798	798	‘‘(2) the taxes imposed by chapter 2 (other than 9
799	799	section 1401(b)) of the Internal Revenue Code of 10
800	800	1986 with respect to self-employment income (as de-11
801	801	fined in section 1402 of such Code) reported to the 12
802	802	Secretary of the Treasury on tax returns under sub-13
803	803	title F of such Code, as determined by the Secretary 14
804	804	of the Treasury by applying the applicable rate of 15
805	805	tax under such chapter (other than section 1401(b)) 16
806	806	to such self-employment income, which self-employ-17
807	807	ment income shall be certified by the Commissioner 18
808	808	of Social Security on the basis of the records of self- 19
809	809	employment income established and maintained by 20
810	810	the Commissioner of Social Security in accordance 21
811	811	with such returns; and 22
812	812	‘‘(3) 62 percent of the taxes imposed under sec-23
813	813	tion 1411 of the Internal Revenue Code of 1986. 24
814	814	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00027 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
815	815	kjohnson on DSK7ZCZBW3PROD with $$_JOB 28
816	816	•S 770 IS
817	817	The amounts appropriated by paragraphs (1), (2), and (3) 1
818	818	shall be transferred from time to time from the general 2
819	819	fund in the Treasury to the Social Security Trust Fund, 3
820	820	such amounts to be determined on the basis of estimates 4
821	821	by the Secretary of the Treasury of the taxes, specified 5
822	822	in paragraphs (1), (2), and (3), paid to or deposited into 6
823	823	the Treasury; and proper adjustments shall be made in 7
824	824	amounts subsequently transferred to the extent prior esti-8
825	825	mates were in excess of or were less than the taxes speci-9
826	826	fied in such paragraphs. All amounts transferred to the 10
827	827	Social Security Trust Fund under the preceding sentence 11
828	828	shall be invested by the Managing Trustee in the same 12
829	829	manner and to the same extent as the other assets of the 13
830	830	Trust Fund. Notwithstanding the preceding sentence, in 14
831	831	any case in which the Secretary of the Treasury deter-15
832	832	mines that the assets of the Trust Fund would otherwise 16
833	833	be inadequate to meet the Trust Fund’s obligations for 17
834	834	any month, the Secretary of the Treasury shall transfer 18
835	835	to the Trust Fund on the first day of such month the 19
836	836	total amount which would have been transferred to the 20
837	837	Trust Fund under this section as in effect on October 1, 21
838	838	1990; and the Trust Fund shall pay interest to the general 22
839	839	fund on the amount so transferred on the first day of any 23
840	840	month at a rate (calculated on a daily basis, and applied 24
841	841	against the difference between the amount so transferred 25
842	842	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00028 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
843	843	kjohnson on DSK7ZCZBW3PROD with $$_JOB 29
844	844	•S 770 IS
845	845	on such first day and the amount which would have been 1
846	846	transferred to the Trust Fund up to that day under the 2
847	847	procedures in effect on January 1, 1983) equal to the rate 3
848	848	earned by the investments of the Trust Fund in the same 4
849	849	month under subsection (d).’’. 5
850	850	(b) R
851	851	EQUIRED ACTUARIALANALYSIS.—Section 6
852	852	201(c) of the Social Security Act is amended by striking 7
853	853	the fourth sentence in the matter following paragraph (5) 8
854	854	and inserting the following: ‘‘Such report shall also include 9
855	855	actuarial analysis of the benefit cost with respect to dis-10
856	856	abled beneficiaries and their auxiliaries, to retired bene-11
857	857	ficiaries and their auxiliaries, and to survivor bene-12
858	858	ficiaries.’’. 13
859	859	(c) B
860	860	OARD OFTRUSTEES.— 14
861	861	(1) B
862	862	OARD OF TRUSTEES OF SOCIAL SECURITY 15
863	863	TRUST FUND.—Section 201(c) of the Social Security 16
864	864	Act, as amended by subsection (b) of this section, is 17
865	865	further amended in the matter preceding paragraph 18
866	866	(1) by striking ‘‘the Federal Old-Age and Survivors 19
867	867	Insurance Trust Fund and the Federal Disability 20
868	868	Insurance Trust Fund (hereinafter in this title 21
869	869	called the ‘Trust Funds’)’’ and inserting ‘‘the Social 22
870	870	Security Trust Fund (in this title referred to as the 23
871	871	‘Trust Fund’)’’. 24
872	872	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00029 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
873	873	kjohnson on DSK7ZCZBW3PROD with $$_JOB 30
874	874	•S 770 IS
875	875	(2) CONTINUITY OF BOARD OF TRUSTEES .— 1
876	876	The Board of Trustees of the Social Security Trust 2
877	877	Fund created by the amendment made by subsection 3
878	878	(a) shall be a continuous body with the Board of 4
879	879	Trustees of the Federal Old-Age and Survivors In-5
880	880	surance Trust Fund and the Federal Disability In-6
881	881	surance Trust Fund in operation prior to the effec-7
882	882	tive date of such amendment. Individuals serving as 8
883	883	members of the Board of Trustees of the Federal 9
884	884	Old-Age and Survivors Insurance Trust Fund and 10
885	885	the Federal Disability Insurance Trust Fund as of 11
886	886	the effective date of such amendment shall serve the 12
887	887	remainder of their term as members of the Board of 13
888	888	Trustees of the Social Security Trust Fund. 14
889	889	(d) C
890	890	ONFORMINGAMENDMENTS RELATED TOSO-15
891	891	CIALSECURITYTRUSTFUND.— 16
892	892	(1) A
893	893	MENDMENT TO SECTION HEADING .—The 17
894	894	section heading for section 201 of the Social Secu-18
895	895	rity Act is amended to read as follows: ‘‘
896	896	SOCIAL SE-19
897	897	CURITY TRUST FUND’’. 20
898	898	(2) B
899	899	OARD OF TRUSTEES .—Section 201(c) of 21
900	900	such Act, as amended by subsections (b) and (c)(1), 22
901	901	is further amended— 23
902	902	(A) in the matter preceding paragraph (1), 24
903	903	by striking ‘‘Board of Trustees of the Trust 25
904	904	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00030 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
905	905	kjohnson on DSK7ZCZBW3PROD with $$_JOB 31
906	906	•S 770 IS
907	907	Funds’’ and inserting ‘‘Board of Trustees of 1
908	908	the Trust Fund’’; 2
909	909	(B) in paragraph (1), by striking ‘‘Trust 3
910	910	Funds’’ and inserting ‘‘Trust Fund’’; 4
911	911	(C) in paragraph (2)— 5
912	912	(i) by striking ‘‘Trust Funds’’ and in-6
913	913	serting ‘‘Trust Fund’’; and 7
914	914	(ii) by striking ‘‘their’’ and inserting 8
915	915	‘‘its’’; 9
916	916	(D) in paragraph (3), by striking ‘‘either 10
917	917	of the Trust Funds’’ and inserting ‘‘the Trust 11
918	918	Fund’’; 12
919	919	(E) in paragraph (5)— 13
920	920	(i) by striking ‘‘managing the Trust 14
921	921	Funds’’ and inserting ‘‘managing the 15
922	922	Trust Fund’’; and 16
923	923	(ii) by striking ‘‘Trust Funds are’’ 17
924	924	and inserting ‘‘Trust Fund is’’; 18
925	925	(F) in the matter following paragraph (5), 19
926	926	by striking ‘‘Trust Funds’’ each place it ap-20
927	927	pears and inserting ‘‘Trust Fund’’; and 21
928	928	(G) in the second sentence in the matter 22
929	929	following paragraph (5), by striking ‘‘whether 23
930	930	the Federal Old-Age and Survivors Insurance 24
931	931	Trust Fund and the Federal Disability Insur-25
932	932	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00031 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
933	933	kjohnson on DSK7ZCZBW3PROD with $$_JOB 32
934	934	•S 770 IS
935	935	ance Trust Fund, individually and collectively, 1
936	936	are’’ and inserting ‘‘whether the Social Security 2
937	937	Trust Fund is’’. 3
938	938	(3) I
939	939	NVESTMENTS.—Section 201 of such Act is 4
940	940	amended in subsections (d) and (e) by striking 5
941	941	‘‘Trust Funds’’ each place it appears and inserting 6
942	942	‘‘Trust Fund’’. 7
943	943	(4) C
944	944	REDITING OF INTEREST AND PROCEEDS 8
945	945	TO TRUST FUNDS .—Section 201(f) of such Act is 9
946	946	amended— 10
947	947	(A) by striking ‘‘the Federal Old-Age and 11
948	948	Survivors Insurance Trust Fund and the Fed-12
949	949	eral Disability Insurance Trust Fund shall be 13
950	950	credited to and form a part of the Federal Old- 14
951	951	Age and Survivors Insurance Trust Fund and 15
952	952	the Disability Insurance Trust Fund, respec-16
953	953	tively’’ and inserting ‘‘the Social Security Trust 17
954	954	Fund shall be credited to and form a part of 18
955	955	the Social Security Trust Fund’’; 19
956	956	(B) by striking ‘‘either of the Trust 20
957	957	Funds’’ and inserting ‘‘the Trust Fund’’; and 21
958	958	(C) by striking ‘‘such Trust Fund’’ and in-22
959	959	serting ‘‘the Trust Fund’’. 23
960	960	(5) A
961	961	DMINISTRATIVE COSTS.—Section 201(g) of 24
962	962	such Act is amended— 25
963	963	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00032 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
964	964	kjohnson on DSK7ZCZBW3PROD with $$_JOB 33
965	965	•S 770 IS
966	966	(A) in paragraph (1)— 1
967	967	(i) in subparagraph (A), by striking 2
968	968	‘‘Of the amounts authorized to be made 3
969	969	available out of the Federal Old-Age and 4
970	970	Survivors Insurance Trust Fund and the 5
971	971	Federal Disability Insurance Trust Fund 6
972	972	under the preceding sentence’’ and all that 7
973	973	follows through ‘‘(Public Law 103–296).’’; 8
974	974	and 9
975	975	(ii) in subparagraph (B)(i)— 10
976	976	(I) by striking subclauses (II) 11
977	977	and (III) and inserting the following: 12
978	978	‘‘(II) the portion of such costs which 13
979	979	should have been borne by the Social Security 14
980	980	Trust Fund,’’; and 15
981	981	(II) by redesignating subclauses 16
982	982	(IV) and (V) as subclauses (III) and 17
983	983	(IV); 18
984	984	(B) in paragraph (2)— 19
985	985	(i) by striking ‘‘Trust Funds’’ and in-20
986	986	serting ‘‘Trust Fund’’; and 21
987	987	(ii) by striking the last sentence; and 22
988	988	(C) in paragraph (4), by striking ‘‘Trust 23
989	989	Funds’’ each place it appears and inserting 24
990	990	‘‘Trust Fund’’. 25
991	991	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00033 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
992	992	kjohnson on DSK7ZCZBW3PROD with $$_JOB 34
993	993	•S 770 IS
994	994	(6) BENEFIT PAYMENTS .—Section 201(h) of 1
995	995	such Act is amended to read as follows: 2
996	996	‘‘(h) All benefit payments required to be made under 3
997	997	this title shall be made only from the Social Security Trust 4
998	998	Fund.’’. 5
999	999	(7) G
1000	1000	IFTS.—Section 201(i) of such Act is 6
1001	1001	amended— 7
1002	1002	(A) in paragraph (1), by striking ‘‘the 8
1003	1003	Federal Old-Age and Survivors Insurance Trust 9
1004	1004	Fund, the Federal Disability Insurance Trust 10
1005	1005	Fund’’ and inserting ‘‘the Social Security Trust 11
1006	1006	Fund’’; and 12
1007	1007	(B) in paragraph (2)(B), by striking ‘‘the 13
1008	1008	Federal Old-Age and Survivors Insurance Trust 14
1009	1009	Fund’’ and inserting ‘‘the Social Security Trust 15
1010	1010	Fund’’. 16
1011	1011	(8) T
1012	1012	RAVEL EXPENSES.—Section 201(j) of such 17
1013	1013	Act is amended by striking ‘‘the Federal Old-Age 18
1014	1014	and Survivors Insurance Trust Fund, or the Federal 19
1015	1015	Disability Insurance Trust Fund (as determined ap-20
1016	1016	propriate by the Commissioner of Social Security)’’ 21
1017	1017	and inserting ‘‘the Social Security Trust Fund’’. 22
1018	1018	(9) D
1019	1019	EMONSTRATION PROJECTS .—Section 23
1020	1020	201(k) of such Act is amended by striking ‘‘the Fed-24
1021	1021	eral Disability Insurance Trust Fund and the Fed-25
1022	1022	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00034 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1023	1023	kjohnson on DSK7ZCZBW3PROD with $$_JOB 35
1024	1024	•S 770 IS
1025	1025	eral Old-Age and Survivors Insurance Trust Fund, 1
1026	1026	as determined appropriate by the Commissioner of 2
1027	1027	Social Security’’ and inserting ‘‘the Social Security 3
1028	1028	Trust Fund’’. 4
1029	1029	(10) B
1030	1030	ENEFIT CHECKS.—Section 201(m) of 5
1031	1031	such Act is amended— 6
1032	1032	(A) in paragraph (2), by striking ‘‘each of 7
1033	1033	the Trust Funds’’ and inserting ‘‘the Social Se-8
1034	1034	curity Trust Fund’’; 9
1035	1035	(B) in paragraph (3), by striking ‘‘one of 10
1036	1036	the Trust Funds’’ and inserting ‘‘the Trust 11
1037	1037	Fund’’; and 12
1038	1038	(C) by striking ‘‘such Trust Fund’’ each 13
1039	1039	place it appears and inserting ‘‘the Trust 14
1040	1040	Fund’’. 15
1041	1041	(11) C
1042	1042	ONFORMING REPEALS .— 16
1043	1043	(A) I
1044	1044	N GENERAL.—Section 201 of such 17
1045	1045	Act is amended by striking subsections (b), (l), 18
1046	1046	and (n). 19
1047	1047	(B) R
1048	1048	EDESIGNATIONS.—Section 201 of 20
1049	1049	such Act is further amended— 21
1050	1050	(i) by redesignating subsections (c) 22
1051	1051	through (j) as subsections (b) through (i), 23
1052	1052	respectively; 24
1053	1053	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00035 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1054	1054	kjohnson on DSK7ZCZBW3PROD with $$_JOB 36
1055	1055	•S 770 IS
1056	1056	(ii) by redesignating subsection (k) as 1
1057	1057	subsection (j); and 2
1058	1058	(iii) by redesignating subsection (m) 3
1059	1059	as subsection (k). 4
1060	1060	(C) R
1061	1061	EFERENCES TO REDESIGNATED SEC -5
1062	1062	TIONS.— 6
1063	1063	(i) Section 201(a) of such Act, as 7
1064	1064	amended by subsection (a) of this section, 8
1065	1065	is further amended— 9
1066	1066	(I) by striking ‘‘subsection 10
1067	1067	(i)(1)’’ and inserting ‘‘subsection 11
1068	1068	(h)(1)’’; and 12
1069	1069	(II) by striking ‘‘subsection (d)’’ 13
1070	1070	and inserting ‘‘subsection (c)’’. 14
1071	1071	(ii) Section 1131(b)(1) of such Act is 15
1072	1072	amended by striking ‘‘section 201(g)(1)’’ 16
1073	1073	and inserting ‘‘section 201(f)(1)’’. 17
1074	1074	(e) O
1075	1075	THERCONFORMINGAMENDMENTS TO SOCIAL 18
1076	1076	S
1077	1077	ECURITYACT.— 19
1078	1078	(1) T
1079	1079	ITLE II.—Title II of the Social Security 20
1080	1080	Act (42 U.S.C. 401 et seq.) is amended— 21
1081	1081	(A) in section 202(x)(3)(B)(iii), by striking 22
1082	1082	‘‘the Federal Old-Age and Survivors Insurance 23
1083	1083	Trust Fund and the Federal Disability Insur-24
1084	1084	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00036 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1085	1085	kjohnson on DSK7ZCZBW3PROD with $$_JOB 37
1086	1086	•S 770 IS
1087	1087	ance Trust Fund, as appropriate,’’ and insert-1
1088	1088	ing ‘‘the Social Security Trust Fund’’; 2
1089	1089	(B) in section 206(d)(5), by striking ‘‘the 3
1090	1090	Federal Old-Age and Survivors Insurance Trust 4
1091	1091	Fund and the Federal Disability Insurance 5
1092	1092	Trust Fund, as appropriate’’ and inserting ‘‘the 6
1093	1093	Social Security Trust Fund’’; 7
1094	1094	(C) in section 206(e)(3)(B), by striking 8
1095	1095	‘‘the Federal Old-Age and Survivors Insurance 9
1096	1096	Trust Fund and the Federal Disability Insur-10
1097	1097	ance Trust Fund’’ and inserting ‘‘the Social Se-11
1098	1098	curity Trust Fund’’; 12
1099	1099	(D) in section 208(b)(5)(A), by striking 13
1100	1100	‘‘the Federal Old-Age and Survivors Insurance 14
1101	1101	Trust Fund and the Federal Disability Insur-15
1102	1102	ance Trust Fund, as appropriate’’ and inserting 16
1103	1103	‘‘the Social Security Trust Fund’’; 17
1104	1104	(E) in section 215(i)(1)(F)— 18
1105	1105	(i) in clause (i)— 19
1106	1106	(I) by striking ‘‘the combined 20
1107	1107	balance in the Federal Old-Age and 21
1108	1108	Survivors Insurance Trust Fund and 22
1109	1109	the Federal Disability Insurance 23
1110	1110	Trust Fund’’ and inserting ‘‘the bal-24
1111	1111	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00037 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1112	1112	kjohnson on DSK7ZCZBW3PROD with $$_JOB 38
1113	1113	•S 770 IS
1114	1114	ance in the Social Security Trust 1
1115	1115	Fund’’; and 2
1116	1116	(II) by striking ‘‘and reduced by 3
1117	1117	the outstanding amount of any loan 4
1118	1118	(including interest thereon) thereto-5
1119	1119	fore made to either such Fund from 6
1120	1120	the Federal Hospital Insurance Trust 7
1121	1121	Fund under section 201(l)’’; and 8
1122	1122	(ii) in clause (ii)— 9
1123	1123	(I) by striking ‘‘the Federal Old- 10
1124	1124	Age and Survivors Insurance Trust 11
1125	1125	Fund and the Federal Disability In-12
1126	1126	surance Trust Fund’’ and inserting 13
1127	1127	‘‘the Social Security Trust Fund’’; 14
1128	1128	and 15
1129	1129	(II) by striking ‘‘(other than pay-16
1130	1130	ments’’ and all that follows through 17
1131	1131	‘‘from that Account’’; 18
1132	1132	(F) in section 217(g)(2), by inserting after 19
1133	1133	the first sentence the following: ‘‘For purposes 20
1134	1134	of any such revision of the amount determined 21
1135	1135	under paragraph (1) that occurs in a year that 22
1136	1136	begins after the year in which the Social Secu-23
1137	1137	rity Expansion Act is enacted, any reference in 24
1138	1138	such paragraph to the Federal Old-Age and 25
1139	1139	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00038 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1140	1140	kjohnson on DSK7ZCZBW3PROD with $$_JOB 39
1141	1141	•S 770 IS
1142	1142	Survivors Insurance Trust Fund or the Federal 1
1143	1143	Disability Insurance Trust Fund shall be 2
1144	1144	deemed to be a reference to the Social Security 3
1145	1145	Trust Fund.’’; 4
1146	1146	(G) in section 221(e)— 5
1147	1147	(i) by striking ‘‘Trust Funds’’ each 6
1148	1148	place it appears and inserting ‘‘Trust 7
1149	1149	Fund’’; and 8
1150	1150	(ii) by striking the last sentence; 9
1151	1151	(H) in section 221(f), by striking ‘‘Trust 10
1152	1152	Funds’’ and inserting ‘‘Trust Fund’’; 11
1153	1153	(I) in section 222(d)— 12
1154	1154	(i) in the section heading, by striking 13
1155	1155	‘‘T
1156	1156	RUSTFUNDS’’ and inserting ‘‘TRUST 14
1157	1157	F
1158	1158	UND’’; 15
1159	1159	(ii) in paragraph (1), by striking ‘‘to 16
1160	1160	the end that savings will accrue to the 17
1161	1161	Trust Funds as a result of rehabilitating 18
1162	1162	such individuals, there are authorized to be 19
1163	1163	transferred from the Federal Old-Age and 20
1164	1164	Survivors Insurance Trust Fund and the 21
1165	1165	Federal Disability Insurance Trust Fund’’ 22
1166	1166	and inserting ‘‘to the end that savings will 23
1167	1167	accrue to the Trust Fund as a result of re-24
1168	1168	habilitating such individuals, there are au-25
1169	1169	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00039 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1170	1170	kjohnson on DSK7ZCZBW3PROD with $$_JOB 40
1171	1171	•S 770 IS
1172	1172	thorized to be transferred from the Social 1
1173	1173	Security Trust Fund’’; and 2
1174	1174	(iii) by amending paragraph (4) to 3
1175	1175	read as follows: 4
1176	1176	‘‘(4) The Commissioner of Social Security shall deter-5
1177	1177	mine according to such methods and procedures as the 6
1178	1178	Commissioner may deem appropriate the total amount to 7
1179	1179	be reimbursed for the cost of services under this sub-8
1180	1180	section.’’; 9
1181	1181	(J) in section 228(g)— 10
1182	1182	(i) in the section heading, by striking 11
1183	1183	‘‘F
1184	1184	EDERALOLD-AGE ANDSURVIVORSIN-12
1185	1185	SURANCETRUSTFUND’’ and inserting 13
1186	1186	‘‘S
1187	1187	OCIALSECURITYTRUSTFUND’’; and 14
1188	1188	(ii) in the matter preceding paragraph 15
1189	1189	(1), by striking ‘‘Federal Old-Age and Sur-16
1190	1190	vivors Insurance Trust Fund’’ and insert-17
1191	1191	ing ‘‘Social Security Trust Fund’’; 18
1192	1192	(K) in section 231(c), by striking ‘‘Trust 19
1193	1193	Funds’’ each place it appears and inserting 20
1194	1194	‘‘Trust Fund’’; and 21
1195	1195	(L) in section 234(a)(1), by striking 22
1196	1196	‘‘Trust Funds’’ and inserting ‘‘Trust Fund’’. 23
1197	1197	(2) T
1198	1198	ITLE VII.—Title VII of the Social Security 24
1199	1199	Act (42 U.S.C. 901 et seq.) is amended— 25
1200	1200	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00040 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1201	1201	kjohnson on DSK7ZCZBW3PROD with $$_JOB 41
1202	1202	•S 770 IS
1203	1203	(A) in section 703(j), by striking ‘‘Federal 1
1204	1204	Disability Insurance Trust Fund, the Federal 2
1205	1205	Old-Age and Survivors Insurance Trust Fund,’’ 3
1206	1206	and inserting ‘‘Social Security Trust Fund’’; 4
1207	1207	(B) in section 708(c), by striking ‘‘the 5
1208	1208	‘OASDI trust fund ratio’ under section 201(l),’’ 6
1209	1209	after ‘‘computing’’; 7
1210	1210	(C) in section 709— 8
1211	1211	(i) in subsection (a), by striking ‘‘Fed-9
1212	1212	eral Old-Age and Survivors Insurance 10
1213	1213	Trust Fund and the Federal Disability In-11
1214	1214	surance Trust Fund’’ and inserting ‘‘Social 12
1215	1215	Security Trust Fund’’; and 13
1216	1216	(ii) in subsection (b)— 14
1217	1217	(I) in paragraph (1), by striking 15
1218	1218	‘‘section 201(l) or’’; and 16
1219	1219	(II) in paragraph (2), by striking 17
1220	1220	‘‘Federal Old-Age and Survivors In-18
1221	1221	surance Trust Fund and the Federal 19
1222	1222	Disability Insurance Trust Fund’’ and 20
1223	1223	inserting ‘‘Social Security Trust 21
1224	1224	Fund’’; and 22
1225	1225	(D) in section 710— 23
1226	1226	(i) in subsection (a), by striking ‘‘Fed-24
1227	1227	eral Old-Age and Survivors Insurance 25
1228	1228	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00041 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1229	1229	kjohnson on DSK7ZCZBW3PROD with $$_JOB 42
1230	1230	•S 770 IS
1231	1231	Trust Fund and the Federal Disability In-1
1232	1232	surance Trust Fund’’ and inserting ‘‘Social 2
1233	1233	Security Trust Fund’’; and 3
1234	1234	(ii) in subsection (b)— 4
1235	1235	(I) by striking ‘‘any Trust Fund 5
1236	1236	specified in subsection (a)’’ and in-6
1237	1237	serting ‘‘the Social Security Trust 7
1238	1238	Fund’’; and 8
1239	1239	(II) by striking ‘‘payments from 9
1240	1240	any such Trust Fund’’ and inserting 10
1241	1241	‘‘payments from the Social Security 11
1242	1242	Trust Fund’’. 12
1243	1243	(3) T
1244	1244	ITLE XI.—Title XI of the Social Security 13
1245	1245	Act (42 U.S.C. 1301 et seq.) is amended— 14
1246	1246	(A) in section 1106(b), by striking ‘‘the 15
1247	1247	Federal Old-Age and Survivors Insurance Trust 16
1248	1248	Fund, the Federal Disability Insurance Trust 17
1249	1249	Fund’’ and inserting ‘‘the Social Security Trust 18
1250	1250	Fund’’; 19
1251	1251	(B) in section 1129(e)(2)(A), by striking 20
1252	1252	‘‘the Federal Old-Age and Survivors Insurance 21
1253	1253	Trust Fund or the Federal Disability Insurance 22
1254	1254	Trust Fund, as determined appropriate by the 23
1255	1255	Secretary’’ and inserting ‘‘the Social Security 24
1256	1256	Trust Fund’’; 25
1257	1257	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00042 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1258	1258	kjohnson on DSK7ZCZBW3PROD with $$_JOB 43
1259	1259	•S 770 IS
1260	1260	(C) in sections 1131(b)(2) and 1140(c)(2), 1
1261	1261	by striking ‘‘the Federal Old-Age and Survivors 2
1262	1262	Insurance Trust Fund’’ and inserting ‘‘the So-3
1263	1263	cial Security Trust Fund’’; 4
1264	1264	(D) in section 1145(c)— 5
1265	1265	(i) by striking paragraphs (1) and (2) 6
1266	1266	and inserting the following: 7
1267	1267	‘‘(1) the Social Security Trust Fund;’’; and 8
1268	1268	(ii) by redesignating paragraphs (3) 9
1269	1269	and (4) as paragraphs (2) and (3), respec-10
1270	1270	tively; and 11
1271	1271	(E) in section 1148(j)(1)(A)— 12
1272	1272	(i) in the first sentence, by striking 13
1273	1273	‘‘the Federal Old-Age and Survivors Insur-14
1274	1274	ance Trust Fund and the Federal Dis-15
1275	1275	ability Insurance Trust Fund’’ and insert-16
1276	1276	ing ‘‘the Social Security Trust Fund’’; and 17
1277	1277	(ii) by striking the second sentence. 18
1278	1278	(4) T
1279	1279	ITLE XVIII.—Title XVIII of the Social Se-19
1280	1280	curity Act (42 U.S.C. 1395) is amended— 20
1281	1281	(A) in section 1817(g), by striking ‘‘Fed-21
1282	1282	eral Old-Age and Survivors Insurance Trust 22
1283	1283	Fund and from the Federal Disability Insur-23
1284	1284	ance Trust Fund’’ and inserting ‘‘Social Secu-24
1285	1285	rity Trust Fund’’; 25
1286	1286	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00043 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1287	1287	kjohnson on DSK7ZCZBW3PROD with $$_JOB 44
1288	1288	•S 770 IS
1289	1289	(B) in section 1840(a)(2), by striking 1
1290	1290	‘‘Federal Old-Age and Survivors Insurance 2
1291	1291	Trust Fund or the Federal Disability Insurance 3
1292	1292	Trust Fund’’ and inserting ‘‘Social Security 4
1293	1293	Trust Fund’’; and 5
1294	1294	(C) in section 1841(f), by striking ‘‘Fed-6
1295	1295	eral Old-Age and Survivors Insurance Trust 7
1296	1296	Fund and from the Federal Disability Insur-8
1297	1297	ance Trust Fund’’ and inserting ‘‘Social Secu-9
1298	1298	rity Trust Fund’’. 10
1299	1299	(f) C
1300	1300	ONFORMINGAMENDMENTSOUTSIDE OFSOCIAL 11
1301	1301	S
1302	1302	ECURITYACT.— 12
1303	1303	(1) B
1304	1304	UDGET.— 13
1305	1305	(A) O
1306	1306	FF-BUDGET EXEMPTION .—Section 14
1307	1307	405(a) of the Congressional Budget Act of 15
1308	1308	1974 (2 U.S.C. 655(a)) is amended by striking 16
1309	1309	‘‘Federal Old-Age and Survivors Insurance and 17
1310	1310	Federal Disability Insurance Trust Funds’’ and 18
1311	1311	inserting ‘‘Social Security Trust Fund’’. 19
1312	1312	(B) S
1313	1313	EQUESTRATION EXEMPTION .—Sec-20
1314	1314	tion 255(g)(1)(A) of the Balanced Budget and 21
1315	1315	Emergency Deficit Control Act of 1985 (2 22
1316	1316	U.S.C. 905(g)(1)(A)) is amended by striking 23
1317	1317	‘‘Payments to Social Security Trust Funds’’ 24
1318	1318	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00044 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1319	1319	kjohnson on DSK7ZCZBW3PROD with $$_JOB 45
1320	1320	•S 770 IS
1321	1321	and inserting ‘‘Payments to the Social Security 1
1322	1322	Trust Fund’’. 2
1323	1323	(2) T
1324	1324	AX.— 3
1325	1325	(A) T
1326	1326	AXABLE WAGES.—Section 3121(l)(4) 4
1327	1327	of the Internal Revenue Code of 1986 is 5
1328	1328	amended by striking ‘‘Federal Old-Age and 6
1329	1329	Survivors Insurance Trust Fund and the Fed-7
1330	1330	eral Disability Insurance Trust Fund’’ and in-8
1331	1331	serting ‘‘Social Security Trust Fund’’. 9
1332	1332	(B) O
1333	1333	VERPAYMENTS.— 10
1334	1334	(i) Section 6402(d)(3)(C) of the Inter-11
1335	1335	nal Revenue Code of 1986 is amended by 12
1336	1336	striking ‘‘Federal Old-Age and Survivors 13
1337	1337	Insurance Trust Fund or the Federal Dis-14
1338	1338	ability Insurance Trust Fund, whichever is 15
1339	1339	certified to the Secretary as appropriate by 16
1340	1340	the Commissioner of Social Security’’ and 17
1341	1341	inserting ‘‘Social Security Trust Fund’’. 18
1342	1342	(ii) Subsection (f)(2)(B) of section 19
1343	1343	3720A of title 31, United States Code, is 20
1344	1344	amended by striking ‘‘Federal Old-Age and 21
1345	1345	Survivors Insurance Trust Fund or the 22
1346	1346	Federal Disability Insurance Trust Fund, 23
1347	1347	whichever is certified to the Secretary of 24
1348	1348	the Treasury as appropriate by the Com-25
1349	1349	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00045 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1350	1350	kjohnson on DSK7ZCZBW3PROD with $$_JOB 46
1351	1351	•S 770 IS
1352	1352	missioner of Social Security’’ and inserting 1
1353	1353	‘‘Social Security Trust Fund’’. 2
1354	1354	(3) F
1355	1355	ALSE CLAIMS PENALTIES .—Subsection 3
1356	1356	(g)(2) of section 3806 of title 31, United States 4
1357	1357	Code, is amended— 5
1358	1358	(A) in subparagraph (B)— 6
1359	1359	(i) by striking ‘‘Secretary of Health 7
1360	1360	and Human Services’’ and inserting ‘‘Com-8
1361	1361	missioner of Social Security’’; and 9
1362	1362	(ii) by striking ‘‘Federal Old-Age and 10
1363	1363	Survivors Insurance Trust Fund’’ and in-11
1364	1364	serting ‘‘Social Security Trust Fund’’; and 12
1365	1365	(B) in subparagraph (C)— 13
1366	1366	(i) by striking ‘‘Secretary of Health 14
1367	1367	and Human Services’’ and inserting ‘‘Com-15
1368	1368	missioner of Social Security’’; and 16
1369	1369	(ii) by striking ‘‘Federal Disability In-17
1370	1370	surance Trust Fund’’ and inserting ‘‘Social 18
1371	1371	Security Trust Fund’’. 19
1372	1372	(4) R
1373	1373	AILROAD RETIREMENT BOARD .—Section 7 20
1374	1374	of the Railroad Retirement Act of 1974 (45 U.S.C. 21
1375	1375	231f) is amended— 22
1376	1376	(A) in subsection (b)(2), by striking ‘‘Fed-23
1377	1377	eral Old-Age and Survivors Insurance Trust 24
1378	1378	Fund and the Federal Disability Insurance 25
1379	1379	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00046 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1380	1380	kjohnson on DSK7ZCZBW3PROD with $$_JOB 47
1381	1381	•S 770 IS
1382	1382	Trust Fund’’ and inserting ‘‘Social Security 1
1383	1383	Trust Fund’’; 2
1384	1384	(B) in subsection (c)(2)— 3
1385	1385	(i) by striking ‘‘Secretary of Health, 4
1386	1386	Education, and Welfare’’ each time it ap-5
1387	1387	pears and inserting ‘‘Commissioner of So-6
1388	1388	cial Security’’; and 7
1389	1389	(ii) by striking ‘‘Federal Old-Age and 8
1390	1390	Survivors Insurance Trust Fund, the Fed-9
1391	1391	eral Disability Insurance Trust Fund,’’ 10
1392	1392	each time it appears and inserting ‘‘Social 11
1393	1393	Security Trust Fund’’; and 12
1394	1394	(C) in subsection (c)(4), by striking ‘‘Fed-13
1395	1395	eral Old-Age and Survivors Insurance Trust 14
1396	1396	Fund, the Federal Disability Insurance Trust 15
1397	1397	Fund,’’ and inserting ‘‘Social Security Trust 16
1398	1398	Fund’’. 17
1399	1399	(g) R
1400	1400	ULE OFCONSTRUCTION.—Effective beginning 18
1401	1401	on January 1 of the first calendar year beginning after 19
1402	1402	the date of the enactment of this section, any reference 20
1403	1403	in law to the ‘‘Federal Old-Age and Survivors Insurance 21
1404	1404	Trust Fund’’ or the ‘‘Federal Disability Insurance Trust 22
1405	1405	Fund’’ is deemed to be a reference to the Social Security 23
1406	1406	Trust Fund. 24
1407	1407	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00047 Fmt 6652 Sfmt 6201 E:\BILLS\S770.IS S770
1408	1408	kjohnson on DSK7ZCZBW3PROD with $$_JOB 48
1409	1409	•S 770 IS
1410	1410	(h) EFFECTIVEDATE.—The amendments made by 1
1411	1411	this section shall take effect on January 1 of the first cal-2
1412	1412	endar year beginning after the date of the enactment of 3
1413	1413	this section. 4
1414	1414	Æ
1415	1415	VerDate Sep 11 2014 04:44 Mar 14, 2025 Jkt 059200 PO 00000 Frm 00048 Fmt 6652 Sfmt 6301 E:\BILLS\S770.IS S770
1416	1416	kjohnson on DSK7ZCZBW3PROD with $$_JOB