Save our Social Security Now Act
This bill prohibits the Department of the Treasury from implementing the Internal Revenue Service Notice entitled Relief with Respect to Employment Tax Deadlines Applicable to Employers Affected by the Ongoing Coronavirus (COVID-19) Disease 2019 Pandemic and renders such notice null and void.. The notice requires Treasury to defer the withholding, deposit, and payment of certain payroll tax obligations for a specified period.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8171 Introduced in House (IH)]
<DOC>
116th CONGRESS
2d Session
H. R. 8171
To nullify certain executive actions to permit the delayed withholding
and deposit of payroll taxes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 4, 2020
Mr. Larson of Connecticut (for himself, Mr. Neal, Mr. Thompson of
California, Mr. Suozzi, Mr. Beyer, Ms. Moore, Mr. Blumenauer, Mr.
Panetta, Mr. Horsford, Ms. Sanchez, Mr. Pascrell, Mr. Higgins of New
York, Mr. Danny K. Davis of Illinois, Mr. Evans, Mr. Kildee, Ms.
DelBene, Mr. Kind, Mr. Courtney, Ms. DeLauro, Mr. Himes, Mrs. Hayes,
and Ms. Sewell of Alabama) introduced the following bill; which was
referred to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To nullify certain executive actions to permit the delayed withholding
and deposit of payroll taxes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; FINDINGS.
(a) Short Title.--This Act may be cited as the ``Save our Social
Security Now Act''.
(b) Findings.--Congress finds the following:
(1) Social Security is Americans' commitment to each other;
it is the foundation of retirement security and provides nearly
all workers and their families with essential insurance
protections for retirement, disability, or death of a family
breadwinner.
(2) Americans are relying on Social Security more than ever
during the COVID-19 pandemic which is harming the very
Americans who most rely on Social Security, our seniors, people
with disabilities, women and people of color.
(3) Americans have consistently ranked Social Security as
one of the most important Federal programs.
(4) Social Security enjoys deep and sustained public
support because it is a benefit workers earn through their
payroll contributions with each and every paycheck under the
Federal Insurance Contributions Act (FICA).
(5) 65 million people, or nearly 1 in 3 households, receive
their earned Social Security benefits each month, including
seniors, widows, people with disabilities, children, and
veterans.
(6) Social Security's progressive benefit formula, family
benefits, and disability and survivor protections make the
program especially important to communities of color and to
women, as it partially mitigates the systemic inequalities in
the rest of the retirement system, which mirror systemic
inequalities in the labor market.
(7) Social Security's guaranteed benefits lift 22 million
Americans out of poverty each year, and allow millions more to
live with dignity after their retirement or disability.
(8) Social Security pays $1 trillion in benefits each year,
and beneficiaries return those funds to their local economies
in every Congressional District in the nation when they pay for
their homes, groceries, and medical care.
(9) Social Security functions as an automatic stabilizer
and economic stimulus during recessions, and the current
economic and public health crises make the program's role more
important than ever, as beneficiaries can count on its monthly
payments as a reliable source of income.
(10) At its inception 85 years ago, Social Security was
created by President Roosevelt as an earned benefit program
where workers' benefits are fundamentally linked to their
earnings from work.
(11) Payroll deductions under the FICA are the
contributions that workers and their employers pay into Social
Security, and represent the direct link between earnings and
benefits.
(12) These payroll contributions provide a secure and
dedicated source of revenue to finance the earned benefits.
(13) Eliminating these payroll contributions would end
Social Security, making it unable to pay any disability
benefits beginning in 2021 and unable to pay any retirement or
survivor benefits beginning in 2023.
(14) Social Security is irreplaceable and has been a
cornerstone of our nation's social compact for more than three-
quarters of a century.
(15) The President's recent executive action to defer
payroll taxes from September through December 2020 is the first
step in his announced plan to entirely defund Social Security
by eliminating payroll contributions altogether beginning in
2021.
(16) Eliminating the payroll tax would destroy Social
Security and with it the financial stability of generations of
retirees, widows, children, and people with severe
disabilities.
(17) Therefore, Congress rejects the President's proposals
to defer now and eliminate later the payroll contributions
which fund Social Security's earned benefits.
SEC. 2. NULLIFICATION OF CERTAIN EXECUTIVE ACTIONS TO PERMIT THE
DELAYED WITHHOLDING AND DEPOSIT OF PAYROLL TAXES.
As of the date of the enactment of this Act, neither the Secretary
of the Treasury, nor any delegate of the Secretary of the Treasury,
shall implement Internal Revenue Service Notice 2020-65 (entitled
``Relief with Respect to Employment Tax Deadlines Applicable to
Employers Affected by the Ongoing Coronavirus (COVID-19) Disease 2019
Pandemic'') and such Notice shall be null and void.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line