,,ii  #aai? ,,congress  #a/ ,session    
,s4 #aaji  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #be1 #bjbe,mr4    
,ricketts introduc$ ! foll[+ bill2 :i* 0
 read twice & ref]r$ to ! ,committee on 
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide = a    
tempor>y r$uction ( ! inclusion 9 gross 
income = old-age & survivors insurance  
b5efit paym5ts "u ! ,social ,security   
,act1 z well z ti] #a railroad retirem5t
 b5efits4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,social ,security ,*eck    
,tax ,cut ,act4  #b4 ,tempor>y r$uction 
( inclusion 9 gross income = old-age &  
survivors insurance b5efit paym5ts  7a7 
,9 g5]al ,section #hf ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new subsection3  7g7  
,special rules = taxable ye>s #bjbf &   
#bjbg  7#a7 ,9 g5]al ,9 ! case ( a      
taxable ye> beg9n+ aft] ,decemb] #ca1   
#bjbe1 & be=e ,janu>y #a1 #bjbh1 ?is    
section %all be appli$ z provid$ 9      
p>agraphs 7#b7 & 7#c74  7#b7 ,sep>ate   

application = retirem5t & disability    
b5efits ,subsection 7a7 %all be appli$  
sep>ately ) respect to-- 7,a7 any social
 security b5efits receiv$ by ! taxpay]  
by reason ( entitlem5t to-- 7i7 a mon?ly
 b5efit "u section #bjb ( ! ,social     
,security ,act 7#db ,u4,s4,c4 #djb71 or 
7ii7 a ti] #a railroad retirem5t b5efit1
 &  7,b7 any social security b5efits    
receiv$ by ! taxpay] by reason (        
entitlem5t to a mon?ly b5efit "u section
 #bbc ( ! ,social ,security ,act 7#db   
,u4,s4,c4 #dbc74  7#c7 ,r$uction (      
inclusion 9 gross income = old-age &    
survivors insurance b5efit paym5ts ,=   
purposes ( any social security b5efits  
:i* are describ$ 9 p>agraph 7#b77;,a71 9
 lieu ( ! am\nt det]m9$ "u subsection   
7a7 7aft] ! application ( p>agraph 7#b77
 ) respect to su* b5efits1 ! am\nt ( su*
 b5efits :i* are includ$ 9 ! gross      
income ( ! taxpay] "u ?is section %all  
be equal to-- 7,a7 ! am\nt o!rwise      
det]m9$ "u subsection 7a7 7aft] !       
application ( p>agraph 7#b77 ) respect  

to su* b5efits1 m9us  7,b7 an am\nt     
equal to-- 7i7 9 ! case ( a taxable ye> 
beg9n+ aft] ,decemb] #ca1 #bjbe1 & be=e 
,janu>y #a1 #bjbg1 #aj p]c5t ( ! am\nt  
det]m9$ "u subp>agraph 7,a71 &  7ii7 ,9 
! case ( a taxable ye> beg9n+ aft]      
,decemb] #ca1 #bjbf1 & be=e ,janu>y #a1 
#bjbh1 #bj p]c5t ( ! am\nt det]m9$ "u   
subp>agraph 7,a74  4  7b7 ,protection ( 
tru/ funds ,!re are h]eby appropriat$ to
 ! ,f$]al ,old-,age & ,survivors ,tru/  
,fund & ! ,f$]al ,disability ,insurance 
,tru/ ,fund e/abli%$ "u section #bja ( !
 ,social ,security ,act 7#db ,u4,s4,c4  
#dja71 z well z ! ,m$ic>e ,hospital     
,insurance ,tru/ ,fund e/abli%$ "u      
section #ahag7;a7 ( ! ,social ,security 
,act 7#db ,u4,s4,c4 #acie;i7a771 am\nts 
equal to ! r$uction 9 rev5ues to !      
,treasury by reason ( ! am5dm5t made by 
subsection 7a74 ,am\nts appropriat$ 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 ea* su*  

,tru/ ,fund _h su* am5dm5t n be5 enact$4
  7c7 ,effective date ,! am5dm5t made by
 subsection 7a7 %all apply to taxable   
ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4