Home > 106th Congressional Bills > H.R. 1340 (ih) To require brokers, dealers, investment companies, and investment advisers to protect the confidentiality of financial information obtained concerning their customers, and for other purposes. [Introduced in House] ...

H.R. 1340 (ih) To require brokers, dealers, investment companies, and investment advisers to protect the confidentiality of financial information obtained concerning their customers, and for other purposes. [Introduced in House] ...


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108th CONGRESS
  1st Session
                                H. R. 133

To amend the Internal Revenue Code of 1986 to repeal the 1993 increase 
              in income taxes on Social Security benefits.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 7, 2003

Mr. King of New York introduced the following bill; which was referred 
                   to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to repeal the 1993 increase 
              in income taxes on Social Security benefits.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF 1993 INCREASE IN TAX ON SOCIAL SECURITY BENEFITS.

    (a) In General.--Paragraph (2) of section 86(a) of the Internal 
Revenue Code of 1986 (relating to social security and tier 1 railroad 
retirement benefits) is amended by adding at the end the following new 
sentence:
        ``This paragraph shall not apply to any taxable year beginning 
        after December 31, 2002.''
    (b) Conforming Amendments.--
            (1) Paragraph (3) of section 871(a) of such Code is amended 
        by striking ``85 percent'' in subparagraph (A) and inserting 
        ``50 percent''.
            (2)(A) Subparagraph (A) of section 121(e)(1) of the Social 
        Security Amendments of 1983 (Public Law 98-21) is amended--
                    (i) by striking ``(A) There'' and inserting 
                ``There'';
                    (ii) by striking ``(i)'' immediately following 
                ``amounts equivalent to''; and
                    (iii) by striking ``, less (ii)'' and all that 
                follows and inserting a period.
            (B) Paragraph (1) of section 121(e) of such Act is amended 
        by striking subparagraph (B).
            (C) Paragraph (3) of section 121(e) of such Act is amended 
        by striking subparagraph (B) and by redesignating subparagraph 
        (C) as subparagraph (B).
            (D) Paragraph (2) of section 121(e) of such Act is amended 
        in the first sentence by striking ``paragraph (1)(A)'' and 
        inserting ``paragraph (1)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2002.
                                 <all>

Pages: 1

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