A bill to amend the Internal Revenue Code of 1986 to allow a deduction for the old-age, survivors, and disability insurance taxes paid by employees and self-employed individuals, and for other purposes.
Working Americans Wage Restoration Act - Amends the Internal Revenue Code to allow a deduction from adjusted gross income for Old Age, Survivors and Disability Insurance (OASDI) employee taxes, unless an individual claims the earned income credit.
Raises the deduction for OASDI self-employment taxes. Reduces such deduction by 50 percent for self-employed individuals claiming the earned income credit.
Sponsor introductory remarks on measure. (CR H5305-5306)
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3210-3211)
Read twice and referred to the Committee on Finance.
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