A bill to amend the Internal Revenue Code of 1954 to provide for floating social security tax rates for old-age, survivors, and disability insurance, to amend title II of the Social Security Act to eliminate the 3-percent trigger for cost-of-living adjustments, and to amend the Social Security Amendments of 1983 to provide that off-budget treatment for the OASDI trust funds and the hospital insurance trust fund take effect for fiscal year 1987 in lieu of fiscal year 1993.
Social Security Long-Term Protection Act of 1985 - Amends the Internal Revenue Code to provide that, beginning in 1990, the tax rates for the old age, survivors and disability insurance program (title II of the Social Security Act) shall be linked with the amount in the OASDI trust fund reserve.
Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to eliminate the three percent trigger presently necessary for cost-of-living adjustments.
Amends the Social Security Amendments of 1983 to accelerate the removal from the unified budget of the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund.
Became Public Law No: 99-177.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Social Security.
For Further Action See H.J.Res.372.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line