Social Security Earned Benefits Payment Act

Social Security Earned Benefits Payment Act

This bill amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to require allocations to the Federal Disability Insurance Trust Fund equal to: (1) 2.65% of the amount of wages and self-employment income paid between December 31, 2015, and January 1, 2021, and (2) 1.80% of wages and self-employment income paid after December 31, 2020.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3621 Introduced in House (IH)]

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114th CONGRESS
  1st Session
                                H. R. 3621

   To ensure that Social Security contributions made by workers are 
         available to pay all benefits which they have earned.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 28, 2015

 Mr. Levin (for himself, Mr. Crowley, Mr. Danny K. Davis of Illinois, 
   Mr. Doggett, Mr. Larson of Connecticut, Mr. Lewis, Mr. Neal, Mr. 
     Pascrell, Mr. Rangel, and Ms. Linda T. Sanchez of California) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To ensure that Social Security contributions made by workers are 
         available to pay all benefits which they have earned.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Social Security Earned Benefits 
Payment Act''.

SEC. 2. ALLOCATIONS TO FEDERAL DISABILITY INSURANCE TRUST FUND.

    (a) Allocation With Respect to Wages.--Section 201(b)(1) of the 
Social Security Act (42 U.S.C. 401(b)(1)) is amended by striking ``and 
(R) 1.80 per centum of the wages (as so defined) paid after December 
31, 1999, and so reported,'' and inserting ``(R) 1.80 per centum of the 
wages (as so defined) paid after December 31, 1999, and before January 
1, 2016, and so reported, (S) 2.65 per centum of the wages (as so 
defined) paid after December 31, 2015, and before January 1, 2021, and 
so reported, and (T) 1.80 per centum of the wages (as so defined) paid 
after December 31, 2020, and so reported,''.
    (b) Allocation With Respect to Self-Employment Income.--Section 
201(b)(2) of such Act (42 U.S.C. 401(b)(2)) is amended by striking 
``and (R) 1.80 per centum of the amount of self-employment income (as 
so defined) so reported for any taxable year beginning after December 
31, 1999,'' and inserting ``(R) 1.80 per centum of the amount of self-
employment income (as so defined) so reported for any taxable year 
beginning after December 31, 1999, and before January 1, 2016, (S) 2.65 
per centum of the amount of self-employment income (as so defined) so 
reported for any taxable year beginning after December 31, 2015, and 
before January 1, 2021, and (T) 1.80 per centum of the amount of self-
employment income (as so defined) so reported for any taxable year 
beginning after December 31, 2020,''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to wages paid after December 31, 2015, and self-
employment income for taxable years beginning after such date.
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