A bill to amend the Social Security Act and the Internal Revenue Code of 1954 to provide that the medicare program shall be financed from general revenues rather than through the imposition of employment and self-employment taxes as at present, with the new method of financing being gradually phased in over a 6-year period, and to adjust the rates of the taxes imposed for purposes of financing the OASDI and disability insurance program in order to assure the future actuarial soundness of those programs.
Social Security Refinancing Amendments of 1979 - Amends the Internal Revenue Code and title XVIII (Medicare) of the Social Security Act to finance the payment of hospital insurance benefits through general tax revenues, rather than through employment and self-employment tax revenues.
Establishes new employment and self-employment tax rates for the purpose of financing the old age, survivors and disability insurance program (title II of the Social Security Act).
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Referred to House Committee on Interstate and Foreign Commerce.
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