H.R. 14794 (93rd): A bill to amend section 37 of the Internal Revenue Code of 1954 to make the tax treatment of retirement income comparable to that of social security income.

Introduced:
May 14, 1974 (93rd Congress, 1973–1974)
Status:
Died (Referred to Committee)
Sponsor
Edward Young
Representative for South Carolina's 6th congressional district
Party
Republican
 
Status

This bill was introduced on May 14, 1974, in a previous session of Congress, but was not enacted.

Progress
Introduced May 14, 1974
Referred to Committee May 14, 1974
 
Summary

No summaries available.

Cosponsors
none
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


5/14/1974--Introduced.
Provides that, for purposes of figuring the credit allowable on taxes withheld from retirement income, the amount of retirement income shall be the combined retirement income of both spouses (making a joint return) up to a precribed level, less specified amounts in excess of specified incomes for aged individuals of different ages and less amounts of pensions and annuities under the Social Security Act or Railroad Retirement Act, or amounts otherwise excluded from gross income.
Provides that a portion of the amount to be subtracted in such determination for individuals over 62 but under 72 shall be 50 percent of the earned income of such individuals in excess of such prescribed level.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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