119-hr1129

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1129 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 1129

 To amend the Internal Revenue Code of 1986 to increase the exclusion 
 from gross income of social security benefits.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 7, 2025

 Ms. Malliotakis 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 increase the exclusion 
 from gross income of social security benefits.

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

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Tax Relief Unleashed for Seniors by 
Trump Act''.

SEC. 2. INCREASE IN EXCLUSION FROM GROSS INCOME OF SOCIAL SECURITY 
 BENEFITS.

    (a) In General.--

Section 86
            (c) of the Internal Revenue Code of 1986 
is amended--

    (1) by striking ``$25,000'' in paragraph

    (1)
        (A) and 
 inserting ``$50,000'',

    (2) by striking ``$32,000'' in paragraph

    (1)
        (B) and 
 inserting ``$64,000'',

    (3) by striking ``$34,000'' in paragraph

    (2)
        (A) and 
 inserting ``$59,000'', and

    (4) by striking ``$44,000'' in paragraph

    (2)
        (B) and 
 inserting ``$76,000''.

    (b) Inflation Adjustment.--

Section 86
            (c) of such Code is amended by 
adding at the end the following new paragraph:
 ``

    (3) Inflation adjustment.--
 ``
        (A) In general.--In the case of any taxable year 
 beginning after December 31, 2026, the dollar amounts 
 in paragraphs

    (1)
        (A) ,

    (1)
        (B) ,

    (2)
        (A) , and

    (2)
        (B) shall 
 each be increased by an amount equal to--
 ``
            (i) such dollar amount, multiplied by
 ``
            (ii) the cost-of-living adjustment 
 determined under 

section 1

    (f)

    (3) for the 
 calendar year in which the taxable year begins 
 by substituting `calendar year 2025' for 
 `calendar year 2016' in subparagraph
        (A)
            (ii) thereof.
 ``
        (B) Rounding.--If any increase determined under 
 subparagraph
        (A) is not a multiple of $100, such 
 increase shall be rounded to nearest multiple of 
 $100.''.
            (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2025.
 <all>