Govwatch

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 5084 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 5084

     To amend the Internal Revenue Code of 1986 to apply inflation 
adjustments to the base amount and adjusted base amount for purposes of 
             determining taxable social security benefits.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             July 22, 2026

  Mr. Kennedy introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
     To amend the Internal Revenue Code of 1986 to apply inflation 
adjustments to the base amount and adjusted base amount for purposes of 
             determining taxable social security benefits.

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

SECTION 1. INFLATION ADJUSTMENT.

    Section 86 of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new subsection:
    ``(g) Inflation Adjustments.--
            ``(1) In general.--In the case of any taxable year 
        beginning after 2026, each of the dollar amounts in paragraphs 
        (1)(A), (1)(B), (2)(A), and (2)(B) of subsection (c) shall be 
        increased by an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section (1)(f)(3) for the calendar year in which 
                the taxable year begins, determined by substituting 
                `calendar year 2025' for `calendar year 2016' in 
                subparagraph (A)(ii) thereof.
            ``(2) Rounding.--If any amount as adjusted under paragraph 
        (1) is not a multiple of $100, such amount shall be rounded to 
        the next highest multiple of $100.''.
                                 <all>
A bill to amend the Internal Revenue Code of 1986 to apply inflation adjustments to the base amount and adjusted base amount for purposes of determining taxable social security benefits.

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