,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #efj  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #bj1 #bjbe,mr4
 ,bacon introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to exclude comp5sation f 
second>y employm5t = c]ta9 taxpay]s f ! 
income tax & payroll taxes4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,second 
,job ,tax ,relief ,act ( #bjbe4  #b4    
,exclusion ( comp5sation = c]ta9        
second>y employm5t f income & payroll   
tax  7a7 ,9 g5]al ,"p ,,iii ( sub*apt]  
,b ( *apt] #a ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by ins]t+ aft] section
 #aci;,i ! foll[+ new section3  #aci;,j4
 ,e>n$ income f additional employm5t    
7a7 ,9 g5]al ,9 ! case ( a qualify+     
taxpay]1 gross income %all n include    
second>y employm5t comp5sation4  7b7    
,phase-,out ,! am\nt ( comp5sation      
exclud$ f gross income "u subsection 7a7
 7det]m9$ )\t reg>d to ?is subsection7  
%all be r$uc$ 7b n bel[ z]o7 by ! am\nt 

:i* be>s ! same ratio to ! am\nt :i* is 
s excludable z-- 7#a7 ! excess 7if any7 
(-- 7,a7 ! taxpay]'s modifi$ adju/$     
gross income 7z def9$ 9 section         
#cf7;b77#b77;,b77 = su* taxable ye>1 ov]
  7,b7 #ajj1jjj 7#aej1jjj 9 ! case ( a  
m>ri$ c\ple fil+ jo9tly71 be>s to  7#b7 
#ej1jjj4  7c7 ,second>y employm5t       
comp5sation  7#a7 ,9 g5]al ,= purposes (
 ?is section1 ! t]m second>y employm5t  
comp5sation means comp5sation receiv$ = 
employm5t dur+ a taxable ye> ) respect  
to :i* an individual has made an        
election "u p>agraph 7#b7 = an employ]  
o!r ?an ! prim>y employ] ( su*          
individual4  7#b7 ,prim>y employ]  7,a7 
,election ,a taxpay] may elect to       
designate1 ) respect to a taxable ye>1 a
 prim>y employ] if su* individual 0     
comp5sat$ on an h\rly basis = n less ?an
 #bjhj h\rs ( "w by su* employ]4  7,b7  
,def9ition ,= purposes ( ?is section1 ! 
t]m prim>y employ] means1 ) respect to a
 taxable ye>1 an employ] designat$ by ! 
taxpay] "u subp>agraph 7,a74  7d7       

,sunset ,subsection 7a7 %all n apply to 
comp5sation e>n$ 9 taxable ye>s beg9n+  
aft] ! date is t is #e ye>s aft] ! date 
( ! enactm5t ( ?is section4  4  7b7     
,application to employm5t taxes  7#a7   
,social security taxes  7,a7 ,9 g5]al   
,section #caba7;a7 ( su* ,code is am5d$ 
by /rik+ or at ! end ( p>agraph 7#bb71  
by /rik+ ! p]iod at ! end ( p>agraph    
7#bc7 & ins]t+ 2 or1 & by ins]t+ aft]   
p>agraph 7#bc7 ! foll[+ new p>agraph3   
7#bd7 any am\nt ( comp5sation :i* is    
excludable f gross income "u section    
#aci;,j4  4  7,b7 ,tru/ funds held      
h>mless ,!re are h]eby appropriat$ to ! 
,f$]al ,old-,age & ,survivors ,insurance
 ,tru/ ,fund1 ! ,f$]al ,disability      
,insurance ,tru/ ,fund1 & ! ,f$]al      
,hospital ,insurance ,tru/ ,fund am\nts 
equival5t to ! r$uction 9 rev5ues to ea*
 su* ,tru/ ,fund1 respectively1 by      
reason ( ! am5dm5t made by subp>agraph  
7,a7 7det]m9$ )\t reg>d to ?is          
subp>agraph74 ,am\nts appropriat$ by !  
prec$+ s5t5ce %all be transf]r$ f !     

g5]al fund at su* times & 9 su* mann] z 
to replicate to ! ext5t possible !      
transf]s :i* w\ld h occurr$ to su* ,tru/
 ,fund _h ?is section n be5 enact$4     
7#b7 ,unemploym5t ,taxes ,section       
#ccjf7;b7 ( su* ,code is am5d$ by /rik+ 
or at ! end ( p>agraph 7#ai71 by /rik+ !
 p]iod at ! end ( p>agraph 7#bj7 &      
ins]t+ 2 or1 & by ins]t+ aft] p>agraph  
7#bj7 ! foll[+ new p>agraph3  7#ba7 any 
am\nt ( comp5sation :i* is excludable f 
gross income "u section #aci;,j4  4     
7#c7 ,wage )hold+ ,section #cdja7;a7 (  
su* ,code is am5d$ by /rik+ or at ! end 
( p>agraph 7#bb71 by /rik+ ! p]iod at ! 
end ( p>agraph 7#bc7 & ins]t+ 2 or1 & by
 ins]t+ aft] p>agraph 7#bc7 ! foll[+ new
 p>agraph3  7#bd7 any am\nt (           
comp5sation :i* is excludable f gross   
income "u section #aci;,j4  4  7c7      
,cl]ical am5dm5t ,! table ( sections =  
"p ,,iii ( sub*apt] ,b ( *apt] #a ( su* 
,code is am5d$ by ins]t+ aft] ! item    
relat+ to section #aci;,i ! foll[+ new  
item3  ,sec4 #aci;,j4 ,e>n$ income f    

additional employm5t4  4  7d7 ,effective
 date ,! am5dm5ts made by ?is section   
%all apply to am\nts receiv$ aft] ! date
 ( ! enactm5t ( ?is ,act4