[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2986 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2986

  To amend the Internal Revenue Code of 1986 to provide for inflation 
 adjustments to the income threshold amounts applicable in determining 
        the portion of social security benefits subject to tax.


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                    IN THE HOUSE OF REPRESENTATIVES

                             August 6, 1993

Mr. Nadler (for himself and Mrs. Lowey) introduced the following bill; 
         which was referred to the Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to provide for inflation 
 adjustments to the income threshold amounts applicable in determining 
        the portion of social security benefits subject to tax.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That (a) subsection (c) 
of section 86 of the Internal Revenue Code of 1986, as amended by the 
Revenue Reconciliation Act of 1993, is amended by adding at the end 
thereof the following new paragraph:
            ``(3) Inflation adjustments.--In the case of any taxable 
        year beginning in a calendar year after 1994, each dollar 
        amount contained in the preceding provisions of this subsection 
        shall 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, by substituting `calendar year 
                1993' for `calendar year 1992'.
        If any increase determined under the preceding sentence is not 
        a multiple of $50, such increase shall be rounded to the next 
        lowest multiple of $50.''
    (b) The amendment made by subsection (a) shall apply to taxable 
years beginning after December 31, 1993.

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