3.0.0 3877 2023-01-15T10:18:06Z 2023-01-15T10:18:06Z House H HR 2004-03-02 108 hswm00 Ways and Means Committee House Standing hswm01 Social Security Subcommittee Referred to 2004-03-05T15:23:44Z Referred to 2004-03-02T17:29:35Z 2004-03-05 hswm01 Social Security Subcommittee 1 House committee actions Referred to the Subcommittee on Social Security. Committee 2004-03-02 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2004-03-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2004-03-02 Introduced in House IntroReferral 1000 9 Library of Congress O000166 Rep. Otter, C. L. (Butch) [R-ID-1] C. L. OTTER R ID 1 N Social Welfare Divorce Economics and Public Finance Families Finance and Financial Sector Government securities Government trust funds Income tax Interest rates Investment of public funds Old age, survivors and disability insurance Social security beneficiaries Social security finance Tax deductions Taxation Valuation Social Welfare 00 2004-03-02 Introduced in House 2004-04-05T20:06:04Z Social Security Alternative Voluntary Expenditure Act of 2004 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to authorize individuals eligible for OASDI benefits to elect to waive payment of all benefits based on their wages and self-employment income.

Amends the Internal Revenue Code to allow a deduction of 20 percent of the actuarial present value of future benefits foregone by reason of such an election. Provides a tax deduction, as well, for the divorced spouse of an individual making a waiver under this Act.

Amends SSA title II to require special Government obligations issued for purchase by the social security trust funds to bear interest at the average market yield then prevailing for comparable obligations issued in the private sector.

]]> Social Security Alternative Voluntary Expenditure Act of 2004 Display Title Social Security Alternative Voluntary Expenditure Act of 2004 Official Title as Introduced To amend title II of the Social Security Act and the Internal Revenue Code of 1986 to provide for an election by individuals eligible for old-age insurance benefits under such title to waive payment of benefits based on their work record, to provide for income tax deductions based on the actuarial present value of benefits foregone by reason of such an election, and to provide that special Government obligations issued exclusively for purchase by the Social Security Trust Funds shall bear interest at the average market yield then prevailing for comparable obligations issued in the private sector. Introduced in House IH Short Titles as Introduced Social Security Alternative Voluntary Expenditure Act of 2004 Introduced in House 2004-03-02T05:00:00Z 2004-03-05 Referred to the Subcommittee on Social Security. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.