H.R.1809 - Seniors' Retirement Recovery Act of 2005109th Congress (2005-2006)
|Sponsor:||Rep. Weldon, Dave [R-FL-15] (Introduced 04/21/2005)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 04/21/2005 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1809 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in House (04/21/2005)
Seniors' Retirement Recovery Act of 2005 - Amends the Internal Revenue Code to repeal the 85 percent maximum tax rate on Social Security and Railroad Retirement benefits enacted by the Omnibus Budget Reconciliation Act of 1993. Appropriates, from the general fund, to the Hospital Insurance Trust Fund amounts equal to the reduction in revenues resulting from the repeal of the 85 percent rate.
Increases from 70 1/2 to 80 the age at which pension plan and individual retirement account beneficiaries must begin taking distributions.