Floor SpeechNeutral2024-12-19

Text of Senate Amendment 3348

EconomySocial Security

Context

On 2024-12-19, Senator Rand Paul (R-KY) delivered a floor speech titled "Text Of Senate Amendment 3348" in the Senate. The speech addressed the economy and also covered Social Security. It referenced legislation including HR82, S7244.

Full Text

Text of Senate Amendment 3348

Congressional Record, Volume 170 Issue 189 (Thursday, December 19, 2024) [Congressional Record Volume 170, Number 189 (Thursday, December 19, 2024)] [Senate] [Page S7244] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 3348. Mr. PAUL submitted an amendment intended to be proposed by him to the bill H.R. 82, to amend title II of the Social Security Act to repeal the Government pension offset and windfall elimination provisions; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. __. LIMITATION ON SOCIAL SECURITY BENEFITS FOR CERTAIN INDIVIDUALS. (a) In General.--Section 215 of the Social Security Act (42 U.S.C. 415) is amended by adding at the end the following: ``Limitation on Benefits for Certain Individuals ``(j)(1) In the case of an applicable individual, the primary insurance amount of such individual shall not exceed an amount equal to the quotient of-- ``(A) the total amount of taxes paid under sections 1401(a), 3101(a), 3111(a), 3201(a), 3211(a), and 3221(a) of the Internal Revenue Code of 1986 with respect to any self- employment income, wages, or compensation paid to or received by such individual; divided by ``(B) the total number of months of remaining life expectancy of such individual, as determined by the Commissioner of Social Security using reasonable actuarial assumptions. ``(2) For purposes of this subsection, the term `applicable individual' means an individual whose primary insurance amount would be computed or recomputed pursuant to subsection (a)(7), (d)(3), or (f)(9) of this section (as in effect on the day prior to the date of enactment of the Social Security Fairness Act of 2023).''. (b) Effective Date.--The amendments made by this section shall apply with respect to benefits payable for months after December 2024. ______

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Text of Senate Amendment 3348 Congressional Record, Volume 170 Issue 189 (Thursday, December 19, 2024) [Congressional Record Volume 170, Number 189 (Thursday, December 19, 2024)] [Senate] [Page S7244] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 3348. Mr. PAUL submitted an amendment intended to be proposed by him to the bill H.R. 82, to amend title II of the Social Security Act to repeal the Government pension offset and windfall elimination provisions; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. __. LIMITATION ON SOCIAL SECURITY BENEFITS FOR CERTAIN INDIVIDUALS. (a) In General.--Section 215 of the Social Security Act (42 U.S.C. 415) is amended by adding at the end the following: ``Limitation on Benefits for Certain Individuals ``(j)(1) In the case of an applicable individual, the primary insurance amount of such individual shall not exceed an amount equal to the quotient of-- ``(A) the total amount of taxes paid under sections 1401(a), 3101(a), 3111(a), 3201(a), 3211(a), and 3221(a) of the Internal Revenue Code of 1986 with respect to any self- employment income, wages, or compensation paid to or received by such individual; divided by ``(B) the total number of months of remaining life expectancy of such individual, as determined by the Commissioner of Social Security using reasonable actuarial assumptions. ``(2) For purposes of this subsection, the term `applicable individual' means an individual whose primary insurance amount would be computed or recomputed pursuant to subsection (a)(7), (d)(3), or (f)(9) of this section (as in effect on the day prior to the date of enactment of the Social Security Fairness Act of 2023).''. (b) Effective Date.--The amendments made by this section shall apply with respect to benefits payable for months after December 2024. ______