[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3267 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 3267

   To amend the Internal Revenue Code of 1986 to reduce the rate of 
       payroll and self-employment taxes, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 28, 2015

 Mr. Williams 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 reduce the rate of 
       payroll and self-employment taxes, and for other purposes.

    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 ``Paycheck Relief Act of 2015''.

SEC. 2. FICA TAX RATE REDUCTIONS.

    (a) Old-Age, Survivors, and Disability Insurance.--Sections 3101(a) 
and 3111(a) of the Internal Revenue Code of 1986 are each amended--
            (1) by striking all that follows ``section 3121(b))'' and 
        inserting a period, and
            (2) by striking ``the following percentages of the wages'' 
        and inserting ``3.1 percent of the wages''.
    (b) Hospital Insurance.--
            (1) Employees.--Section 3101(b) of such Code is amended--
                    (A) by striking ``1.45 percent'' in paragraph (1) 
                and inserting ``0.725 percent'', and
                    (B) by striking ``0.9 percent'' in paragraph (2) 
                and inserting ``0.45 percent''.
            (2) Employers.--Section 3111(b) of such Code is amended--
                    (A) by striking all that follows ``section 
                3121(b))'' and inserting a period, and
                    (B) by striking ``the following percentages of the 
                wages'' and inserting ``0.725 percent of the wages''.
    (c) Effective Date.--The amendments made by this section shall 
apply remuneration paid after December 31, 2015.

SEC. 3. TAX ON SELF-EMPLOYMENT INCOME.

    (a) Old-Age, Survivors, and Disability Insurance.--Section 1401(a) 
of the Internal Revenue Code of 1986 is amended--
            (1) by striking all that follows ``for such taxable year'' 
        and inserting a period, and
            (2) by striking ``the following percent'' and inserting 
        ``6.2 percent''.
    (b) Hospital Insurance.--Section 1401(b) of such Code is amended--
            (1) by striking all that follows ``for such taxable year'' 
        in paragraph (1) and inserting a period,
            (2) by striking ``the following percent'' in paragraph (1) 
        and inserting ``1.45 percent'', and
            (3) by striking ``0.9 percent'' in paragraph (2)(A) and 
        inserting ``0.45''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to remuneration received after December 31, 2015.
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