Summary: H.R.2131 — 94th Congress (1975-1976)All Information (Except Text)

There is one summary for H.R.2131. Bill summaries are authored by CRS.

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Introduced in House (01/27/1975)

Provides, under the Internal Revenue Code, for reductions in Social Security taxes relating to the rate of tax on self-employment income for purposes of old-age, survivors, and disability insurance. States that such reductions shall apply in the case of taxes imposed with respect to self-employment income for taxable years beginning after December 31, 1975, and with respect to wages paid or received during calendar years after 1975.

Provides for Federal participation in the costs of the old-age, survivors, and disability insurance program under title II of the Social Security Act. Increases the earnings counted for benefit and tax purposes under the Social Security Act.