H.R.2131 - A bill to amend the Social Security Act and the Internal Revenue Code of 1954 to provide for Federal participation in the costs of the social security program, with a substantial increase in the contribution and benefit base and with appropriate reductions in social security taxes to reflect the Federal Government's participation in such costs.94th Congress (1975-1976)
|Sponsor:||Rep. Burke, James A. [D-MA-11] (Introduced 01/27/1975)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 01/27/1975 Referred to House Committee on Ways and Means. (All Actions)|
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Summary: H.R.2131 — 94th Congress (1975-1976)All Information (Except Text)
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.