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H.R. 3621 (114th): Social Security Earned Benefits Payment Act

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The text of the bill below is as of Sep 28, 2015 (Introduced). The bill was not enacted into law.

I

114th CONGRESS

1st Session

H. R. 3621

IN THE HOUSE OF REPRESENTATIVES

September 28, 2015

(for himself, Mr. Crowley, Mr. Danny K. Davis of Illinois, Mr. Doggett, Mr. Larson of Connecticut, Mr. Lewis, Mr. Neal, Mr. Pascrell, Mr. Rangel, and Ms. Linda T. Sánchez of California) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To ensure that Social Security contributions made by workers are available to pay all benefits which they have earned.

1.

Short title

This Act may be cited as the Social Security Earned Benefits Payment Act.

2.

Allocations to Federal Disability Insurance Trust Fund

(a)

Allocation with respect to wages

Section 201(b)(1) of the Social Security Act (42 U.S.C. 401(b)(1)) is amended by striking and (R) 1.80 per centum of the wages (as so defined) paid after December 31, 1999, and so reported, and inserting (R) 1.80 per centum of the wages (as so defined) paid after December 31, 1999, and before January 1, 2016, and so reported, (S) 2.65 per centum of the wages (as so defined) paid after December 31, 2015, and before January 1, 2021, and so reported, and (T) 1.80 per centum of the wages (as so defined) paid after December 31, 2020, and so reported,.

(b)

Allocation With Respect to Self-Employment Income

Section 201(b)(2) of such Act (42 U.S.C. 401(b)(2)) is amended by striking and (R) 1.80 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1999, and inserting (R) 1.80 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 1999, and before January 1, 2016, (S) 2.65 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 2015, and before January 1, 2021, and (T) 1.80 per centum of the amount of self-employment income (as so defined) so reported for any taxable year beginning after December 31, 2020,.

(c)

Effective date

The amendments made by this section shall apply with respect to wages paid after December 31, 2015, and self-employment income for taxable years beginning after such date.