H. R. 150: Senior Citizens Tax Elimination Act

To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits.

IN THE HOUSE OF REPRESENTATIVES

January 5, 2011

Mr. PAUL 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 repeal the inclusion in gross income of Social Security 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 `Senior Citizens Tax Elimination Act’.

SEC. 2. REPEAL OF INCLUSION IN GROSS INCOME OF SOCIAL SECURITY BENEFITS.

(a) In General- Section 86 of the Internal Revenue Code of 1986 (relating to social security benefits) is amended by adding at the end the following new subsection:

`(g) Termination- This section shall not apply to any taxable year beginning after the date of the enactment of this subsection.’.

(b) Social Security Trust Funds Held Harmless-

(1) IN GENERAL- There are hereby appropriated (out of any money in the Treasury not otherwise appropriated) for each fiscal year to each fund under the Social Security Act or the Railroad Retirement Act of 1974 an amount equal to the reduction in the transfers to such fund for such fiscal year by reason of section 86(g) of the Internal Revenue Code of 1986.

(2) NO TAX INCREASES- It is the sense of the Congress that tax increases will not be used to provide the revenue necessary to carry out paragraph (1).

END

Latest Major Action: 1/5/2011 Referred to House committee. Status: Referred to the House Committee on Ways and Means.

My hope here is that these pages will bring understanding to the real views of Ron Paul that have been so distorted by the media, and that you will share these pages with your friends. I pray that supporters of these small goverment ideas will demand that their representatives bring Mr. Pauls up for an up or down vote in the House of Representatives.