Browse Bills

There is one summary for this bill. Bill summaries are authored by CRS.

Removes, under the Internal Revenue Code of 1954, the ceiling presently imposed upon the amount of earnings which may be counted annually for social security benefit and tax purposes (with the maximum benefits resulting therefrom being limited to twice the present maximum rate). Fixes the social security taxes permanently (for cash benefit purposes) at a single reduced rate for both employees and employers.

There is one summary for this bill. Bill summaries are authored by CRS.

Removes, under the Internal Revenue Code of 1954, the ceiling presently imposed upon the amount of earnings which may be counted annually for social security benefit and tax purposes (with the maximum benefits resulting therefrom being limited to twice the present maximum rate). Fixes the social security taxes permanently (for cash benefit purposes) at a single reduced rate for both employees and employers.

There is one summary for this bill. Bill summaries are authored by CRS.

Removes, under the Internal Revenue Code of 1954, the ceiling presently imposed upon the amount of earnings which may be counted annually for social security benefit and tax purposes (with the maximum benefits resulting therefrom being limited to twice the present maximum rate). Fixes the social security taxes permanently (for cash benefit purposes) at a single reduced rate for both employees and employers.

There is one summary for this bill. Bill summaries are authored by CRS.

Removes, under the Internal Revenue Code of 1954, the ceiling presently imposed upon the amount of earnings which may be counted annually for social security benefit and tax purposes (with the maximum benefits resulting therefrom being limited to twice the present maximum rate). Fixes the social security taxes permanently (for cash benefit purposes) at a single reduced rate for both employees and employers.