A bill to amend the Social Security Act and the Internal Revenue Code of 1954 to provide that disability insurance benefits and the medicare program shall be financed from general revenues rather than through the imposition of employment and self-employment taxes as at present, and to adjust the rates of such taxes (for purposes of financing the old-age and survivors insurance program) accordingly.
Social Security Tax Reduction Act of 1979 - Amends titles II (Old-Age, Survivors and Disability Insurance) and XVIII (Medicare) of the Social Security Act, and the Internal Revenue Code to finance the payment of disability insurance benefits and 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 OASDI program.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Referred to House Committee on Interstate and Foreign Commerce.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line