119 S5084 IS: To amend the Internal Revenue Code of 1986 to apply inflation adjustments to the base amount and adjusted base amount for purposes of determining taxable social security benefits. U.S. Senate 2026-07-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS2d SessionS. 5084IN THE SENATE OF THE UNITED STATESJuly 22, 2026Mr. Kennedy introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to apply inflation adjustments to the base amount and adjusted base amount for purposes of determining taxable social security benefits.

1.

Inflation Adjustment

Section 86 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:(g)

Inflation adjustments

(1)

In general

In the case of any taxable year beginning after 2026, each of the dollar amounts in paragraphs (1)(A), (1)(B), (2)(A), and (2)(B) of subsection (c) 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, determined by substituting calendar year 2025 for calendar year 2016 in subparagraph (A)(ii) thereof.(2)

Rounding

If any amount as adjusted under paragraph (1) is not a multiple of $100, such amount shall be rounded to the next highest multiple of $100..