A bill to amend the Internal Revenue Code of 1954 to provide a refund or credit of 10 percent of the employer and self-employed social security taxes paid by a taxpayer.

Amends the Internal Revenue Code to allow a tax credit to employers and the self-employed for an amount equal to ten percent of the employer and self-employed social security taxes paid. Authorizes a direct payment of a like amount to State and local governments participating in the social security system and to tax- exempt organizations.