I 112th CONGRESS 1st Session H. R. 797 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.

1.

Short title

This Act may be cited as the No Loopholes in Social Security Taxes Act.

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.