Section 1 Short title
This Act may be cited as the “Social Security Tax Fairness Act”.
Social Security Tax Fairness Act
A BILL
To amend the Internal Revenue Code of 1986 to increase the amount of, and remove the marriage penalty with respect to, social security benefits excludable from gross income.
Sec. 2 Increase in amount of, and removal of marriage penalty with respect to, social security benefits excludable from gross income
by striking “$25,000” in paragraph (1)(A) and inserting “$50,000”;
by striking “$32,000” in paragraph (1)(B) and inserting “twice the amount in effect under subparagraph (A)”;
by striking “$34,000” in paragraph (2)(A) and inserting “$68,000”; and
by striking “$44,000” in paragraph (2)(B) and inserting “twice the amount in effect under subparagraph (A)”.
Inflation adjustment— Section 86(c) of such Code is amended by adding at the end the following new paragraph:
“(3) Inflation adjustment—In the case of any taxable year beginning in a calendar year after 2018, the dollar amounts contained in paragraphs (1)(A) and (2)(A) shall each be increased by an amount equal to—
“(A) such dollar amount, multiplied by
“(B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins determined by substituting “calendar year 2017” for “calendar year 1992” in subparagraph (B) thereof.”
Effective date— The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.