[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3451 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3451

To amend the Internal Revenue Code of 1986 to provide a cost-of-living 
   adjustment for the thresholds used in determining the 85 percent 
 inclusion of social security and tier 1 railroad retirement benefits.


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                    IN THE HOUSE OF REPRESENTATIVES

                            November 4, 1993

 Mr. Kleczka introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide a cost-of-living 
   adjustment for the thresholds used in determining the 85 percent 
 inclusion of social security and tier 1 railroad retirement benefits.

    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 Equity Act of 
1993''.

SEC. 2. COST-OF-LIVING ADJUSTMENT IN THRESHOLDS USED IN DETERMINING THE 
              85 PERCENT INCLUSION OF SOCIAL SECURITY AND TIER 1 
              RAILROAD RETIREMENT BENEFITS.

    Subsection (c) of section 86 of the Internal Revenue Code of 1986 
(relating to social security and tier 1 railroad retirement benefits) 
is amended by adding at the end thereof the following new paragraph:
            ``(3) Cost-of-living adjustment.--In the case of any 
        taxable year beginning in a calendar year after 1994, each 
        dollar amount contained in paragraph (2) 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' in subparagraph (B) 
                thereof.
        If any increase determined under the preceding sentence is not 
        a multiple of $100, such increase shall be rounded to the 
        nearest multiple of $100.''

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