Top Legislation - View All
Also tagged in: Aged, Earnings, Labor, Old age, survivors and disability insurance, Older workers, Pensions, Railroad retirement plans, Social security, Social security beneficiaries, Transportation Latest Action: 01/18/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title II of the Social Security Act to remove the limitation upon the amount of outside income which an individual may earn while receiving benefits under such title, and for other purposes. 1/4/2007--Introduced. Social Security Earnings Test Repeal Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to remove the limitation on the amount of outside income which a beneficiary may earn (earnings test) without incurring a reduction in benefits.
Latest Action: 07/11/2007 - Senate Committee on the Judiciary discharged by Unanimous Consent. (consideration: CR S9057) Bill TextA resolution designating October 21 through October 27, 2007, as "National Save for Retirement Week". 7/11/2007--Passed Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Designates October 21 through October 27, 2007, as "National Save for Retirement Week." Supports the goals and ideals of National Save for Retirement Week, including raising public awareness about the importance of adequate retirement savings and the availability of employer-sponsored retirement plans. Calls on the federal government, states, localities, schools, universities, nonprofit organizations, businesses, other entities, and the people of the United States to observe the week with appropriate programs and activities with the goal of increasing the retirement savings of all the people of the United States.
Also tagged in: Administrative fees, Aged, Aliens, Annuities, Bonds, Budget deficits, Budget reconciliation, Budget resolutions, Budget surpluses, Budgets, Caregivers, Children, Civil service retirement, Congress, Congressional reporting requirements, Congressional voting, Cost of living adjustments, Death, Disabled, Divorce, Earnings, Economic policy, Estate tax, Estates (Law), Executive departments, Executive reorganization, Families, Finance, Financial statements, Government employees, Government information, Government paperwork, Government publicity, Government trust funds, House rules and procedure, Indexing (Economic policy), Investments, Labor, Law, Legislation, Legislative amendments, Legislative resolutions, Marriage, Married people, Mutual funds, Old age, survivors and disability insurance, Older workers, Pensions, Senate rules and procedure, Social security, Social Security Administration, Social security beneficiaries, Social security eligibility, Social security finance, Social security taxes, Stocks, Survivors' benefits, Tax credits, Tax exemption, Tax refunds, Taxation, Widowers, Widows, Women
Latest Action: 03/13/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend the Social Security Act and the Internal Revenue Code of 1986 to preserve and strengthen the Social Security Program through the creation of personal Social Security guarantee accounts ensuring full benefits for all workers and their families, restoring long-term Social Security solvency, to make certain benefit improvements, and for other purposes. 2/15/2007--Introduced. Social Security Guarantee Plus Act of 2007 - Amends the Internal Revenue Code (IRC) and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish a Social Security Guarantee Program, to be administered by a Social Security Guarantee Board established within the Social Security Administration. Authorizes any individual age 18 with a Social Security number to elect to enroll as a covered individual and receive in the Social Security guarantee account established for him or her by the Board a calendar year payment of Social Security guarantee refundable [...] show full description
Latest Action: 03/28/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. 3/28/2007--Introduced. Retirement Security for Life Act of 2007 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as guaranteed payments from certain annuity or life insurance contracts. Limits the amount of such exclusion to $20,000 in any taxable year. Provides for an inflation adjustment of the $20,000 limitation beginning in 2009.
Also tagged in: Aged, Business, Children, Civil service retirement, Congress, Congressional voting, Corporation taxes, Cost of living adjustments, Economic policy, Estate tax, Excise tax, Executive compensation, Flat-rate tax, Gift tax, Government employees, House rules and procedure, Income tax, Indexing (Economic policy), Individual retirement accounts, Labor, Legislation, Legislative amendments, Legislative resolutions, Local employees, Minimum tax, Pension funds, Pensions, Self-employed, Senate rules and procedure, Social security, State and local government, State employees, Tax credits, Tax deductions, Tax exclusion, Tax expenditures, Tax penalties, Tax rates, Tax simplification, Tax-deferred compensation plans, Tax-exempt organizations, Taxation, Unemployment insurance
Latest Action: 03/29/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to repeal the current Internal Revenue Code and replace it with a flat tax, thereby guaranteeing economic growth and greater fairness for all Americans. 3/29/2007--Introduced. Tax Simplification Act of 2007 - Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 19 percent (17 percent after December 31, 2009) on individual taxable income. Redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. Increases the basic standard deduction and includes an additional standard deduction for dependents. Includes in taxable income the taxable income of each dependent child under the age of 14. Replaces the current tax on corporations with a tax on every person engaged in a business activity equal to 19 percent (17 percent after December 31, 2009) of the business taxable income of such person. Makes the person engaged in the business activity [...] show full description
Also tagged in: Aged, Earnings, Families, Labor, Old age, survivors and disability insurance, Older workers, Pensions, Social security, Widowers, Widows, Women
Latest Action: 02/27/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title II of the Social Security Act to provide for increases in widow's and widower's insurance benefits by reason of delayed retirement. 2/16/2007--Introduced. Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to provide for: (1) increases in widow's and widower's insurance benefits by reason of delayed retirement; and (2) the treatment of delayed retirement in cases of simultaneous entitlement to OASDI benefits and widow's or widower's insurance benefits.
Also tagged in: Armed forces, Bonds, Business, Capital gains tax, Citizenship, Defense policy, Disability evaluation, Disabled, Earned income tax credit, Expatriation, Families, Finance, Gifts, Housing, Housing finance, Immigration, Income tax, Individual retirement accounts, Intelligence activities, Intelligence officers, Iraq compilation, Labor, Military dependents, Military pay, Military personnel, Mortgages, Pensions, Small business, Survivors' benefits, Tax credits, Tax deferral, Tax exclusion, Tax exemption, Tax liens, Tax penalties, Tax refunds, Tax returns, Taxation, Veterans, Veterans' benefits, Veterans' disability compensation, Visas, Wages, Welfare
Latest Action: 06/12/2007 - Sponsor introductory remarks on measure. (CR S7548) Bill TextA bill to amend the Internal Revenue Code of 1986 to provide tax relief and protections to military personnel, and for other purposes. 6/12/2007--Introduced. Defenders of Freedom Tax Relief Act of 2007 - Amends Internal Revenue Code provisions relating to military personnel to: (1) extend the limitation period for filing tax refund claims resulting from Department of Veterans Affairs (VA) disability determinations; (2) make permanent the taxpayer election to treat combat zone compensation as earned income for purposes of the earned income tax credit; (3) treat differential wage payments made to active duty members of the uniformed services as wages for retirement plan purposes; (4) make permanent the exemption from the 10% penalty for premature retirement plan distributions made by active duty military personnel; (5) treat state payments to members of the uniformed services as qualified military benefits for purposes of the tax exclusion of such benefits; (6) make permanent [...] show full description
Latest Action: 05/08/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. 5/8/2007--Introduced. Retirement Security for Life Act of 2007 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as guaranteed payments from certain annuity or life insurance contracts. Limits the amount of such exclusion to $20,000 in any taxable year. Provides for an inflation adjustment of the $20,000 limitation beginning in 2009.
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Latest Legislation - View All
Latest Action: 07/11/2007 - Senate Committee on the Judiciary discharged by Unanimous Consent. (consideration: CR S9057) Bill TextA resolution designating October 21 through October 27, 2007, as "National Save for Retirement Week". 7/11/2007--Passed Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Designates October 21 through October 27, 2007, as "National Save for Retirement Week." Supports the goals and ideals of National Save for Retirement Week, including raising public awareness about the importance of adequate retirement savings and the availability of employer-sponsored retirement plans. Calls on the federal government, states, localities, schools, universities, nonprofit organizations, businesses, other entities, and the people of the United States to observe the week with appropriate programs and activities with the goal of increasing the retirement savings of all the people of the United States.
Also tagged in: Armed forces, Bonds, Business, Capital gains tax, Citizenship, Defense policy, Disability evaluation, Disabled, Earned income tax credit, Expatriation, Families, Finance, Gifts, Housing, Housing finance, Immigration, Income tax, Individual retirement accounts, Intelligence activities, Intelligence officers, Iraq compilation, Labor, Military dependents, Military pay, Military personnel, Mortgages, Pensions, Small business, Survivors' benefits, Tax credits, Tax deferral, Tax exclusion, Tax exemption, Tax liens, Tax penalties, Tax refunds, Tax returns, Taxation, Veterans, Veterans' benefits, Veterans' disability compensation, Visas, Wages, Welfare
Latest Action: 06/12/2007 - Sponsor introductory remarks on measure. (CR S7548) Bill TextA bill to amend the Internal Revenue Code of 1986 to provide tax relief and protections to military personnel, and for other purposes. 6/12/2007--Introduced. Defenders of Freedom Tax Relief Act of 2007 - Amends Internal Revenue Code provisions relating to military personnel to: (1) extend the limitation period for filing tax refund claims resulting from Department of Veterans Affairs (VA) disability determinations; (2) make permanent the taxpayer election to treat combat zone compensation as earned income for purposes of the earned income tax credit; (3) treat differential wage payments made to active duty members of the uniformed services as wages for retirement plan purposes; (4) make permanent the exemption from the 10% penalty for premature retirement plan distributions made by active duty military personnel; (5) treat state payments to members of the uniformed services as qualified military benefits for purposes of the tax exclusion of such benefits; (6) make permanent [...] show full description
Latest Action: 05/08/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. 5/8/2007--Introduced. Retirement Security for Life Act of 2007 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as guaranteed payments from certain annuity or life insurance contracts. Limits the amount of such exclusion to $20,000 in any taxable year. Provides for an inflation adjustment of the $20,000 limitation beginning in 2009.
Also tagged in: Aged, Business, Children, Civil service retirement, Congress, Congressional voting, Corporation taxes, Cost of living adjustments, Economic policy, Estate tax, Excise tax, Executive compensation, Flat-rate tax, Gift tax, Government employees, House rules and procedure, Income tax, Indexing (Economic policy), Individual retirement accounts, Labor, Legislation, Legislative amendments, Legislative resolutions, Local employees, Minimum tax, Pension funds, Pensions, Self-employed, Senate rules and procedure, Social security, State and local government, State employees, Tax credits, Tax deductions, Tax exclusion, Tax expenditures, Tax penalties, Tax rates, Tax simplification, Tax-deferred compensation plans, Tax-exempt organizations, Taxation, Unemployment insurance
Latest Action: 03/29/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to repeal the current Internal Revenue Code and replace it with a flat tax, thereby guaranteeing economic growth and greater fairness for all Americans. 3/29/2007--Introduced. Tax Simplification Act of 2007 - Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 19 percent (17 percent after December 31, 2009) on individual taxable income. Redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. Increases the basic standard deduction and includes an additional standard deduction for dependents. Includes in taxable income the taxable income of each dependent child under the age of 14. Replaces the current tax on corporations with a tax on every person engaged in a business activity equal to 19 percent (17 percent after December 31, 2009) of the business taxable income of such person. Makes the person engaged in the business activity [...] show full description
Latest Action: 03/28/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. 3/28/2007--Introduced. Retirement Security for Life Act of 2007 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as guaranteed payments from certain annuity or life insurance contracts. Limits the amount of such exclusion to $20,000 in any taxable year. Provides for an inflation adjustment of the $20,000 limitation beginning in 2009.
Also tagged in: Aged, Earnings, Families, Labor, Old age, survivors and disability insurance, Older workers, Pensions, Social security, Widowers, Widows, Women
Latest Action: 02/27/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title II of the Social Security Act to provide for increases in widow's and widower's insurance benefits by reason of delayed retirement. 2/16/2007--Introduced. Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to provide for: (1) increases in widow's and widower's insurance benefits by reason of delayed retirement; and (2) the treatment of delayed retirement in cases of simultaneous entitlement to OASDI benefits and widow's or widower's insurance benefits.
Also tagged in: Administrative fees, Aged, Aliens, Annuities, Bonds, Budget deficits, Budget reconciliation, Budget resolutions, Budget surpluses, Budgets, Caregivers, Children, Civil service retirement, Congress, Congressional reporting requirements, Congressional voting, Cost of living adjustments, Death, Disabled, Divorce, Earnings, Economic policy, Estate tax, Estates (Law), Executive departments, Executive reorganization, Families, Finance, Financial statements, Government employees, Government information, Government paperwork, Government publicity, Government trust funds, House rules and procedure, Indexing (Economic policy), Investments, Labor, Law, Legislation, Legislative amendments, Legislative resolutions, Marriage, Married people, Mutual funds, Old age, survivors and disability insurance, Older workers, Pensions, Senate rules and procedure, Social security, Social Security Administration, Social security beneficiaries, Social security eligibility, Social security finance, Social security taxes, Stocks, Survivors' benefits, Tax credits, Tax exemption, Tax refunds, Taxation, Widowers, Widows, Women
Latest Action: 03/13/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend the Social Security Act and the Internal Revenue Code of 1986 to preserve and strengthen the Social Security Program through the creation of personal Social Security guarantee accounts ensuring full benefits for all workers and their families, restoring long-term Social Security solvency, to make certain benefit improvements, and for other purposes. 2/15/2007--Introduced. Social Security Guarantee Plus Act of 2007 - Amends the Internal Revenue Code (IRC) and title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to establish a Social Security Guarantee Program, to be administered by a Social Security Guarantee Board established within the Social Security Administration. Authorizes any individual age 18 with a Social Security number to elect to enroll as a covered individual and receive in the Social Security guarantee account established for him or her by the Board a calendar year payment of Social Security guarantee refundable [...] show full description
Also tagged in: Aged, Earnings, Labor, Old age, survivors and disability insurance, Older workers, Pensions, Railroad retirement plans, Social security, Social security beneficiaries, Transportation Latest Action: 01/18/2007 - Referred to the Subcommittee on Social Security. Bill TextTo amend title II of the Social Security Act to remove the limitation upon the amount of outside income which an individual may earn while receiving benefits under such title, and for other purposes. 1/4/2007--Introduced. Social Security Earnings Test Repeal Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to remove the limitation on the amount of outside income which a beneficiary may earn (earnings test) without incurring a reduction in benefits.
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