[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 797 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 797

 To amend the Internal Revenue Code of 1986 to apply payroll taxes to 
      remuneration up to the contribution and benefit base and to 
                  remuneration in excess of $250,000.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 18, 2011

 Mr. DeFazio 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 apply payroll taxes to 
      remuneration up to the contribution and benefit base and to 
                  remuneration in excess of $250,000.

    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 ``No Loopholes in Social Security 
Taxes Act''.

SEC. 2. PAYROLL TAX ON REMUNERATION UP TO CONTRIBUTION AND BENEFIT BASE 
              AND MORE THAN $250,000.

    (a) In General.--Paragraph (1) of section 3121(a) of the Internal 
Revenue Code of 1986 is amended by inserting after ``such calendar 
year.'' the following: ``The preceding sentence shall apply only to 
calendar years for which the contribution and benefit base (as so 
determined) is less than $250,000, and, for such calendar years, only 
to so much of the remuneration paid to such employee by such employer 
with respect to employment as does not exceed $250,000.''.
    (b) Conforming Amendment.--Paragraph (1) of section 3121 of such 
Code is amended by striking ``Act) to'' and inserting ``Act), or in 
excess of $250,000, to''.
    (c) Effective Date.--The amendments made by this section shall 
apply to remuneration paid after December 31, 2011.
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