H.R. 5725 · 111th Congress
Senior Citizens Income Security Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PoseySponsor3 cosponsors · 3 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Senior Citizens Income Security Act of 2010 - Amends the Internal Revenue Code to: (1) to replace the formula for including social security benefits in gross income for income tax purposes with the formula in existence prior to the enactment of the Omnibus Budget Reconciliation Act of 1993; (2) eliminate mandatory withdrawals from retirement accounts after…
What it does: CRS summary · Introduced in House · Jul 13, 2010
Senior Citizens Income Security Act of 2010 - Amends the Internal Revenue Code to: (1) to replace the formula for including social security benefits in gross income for income tax purposes with the formula in existence prior to the enactment of the Omnibus Budget Reconciliation Act of 1993; (2) eliminate mandatory withdrawals from retirement accounts after age 70-1/2; (3) eliminate employment taxes on individuals receiving social security retirement and Medicare benefits; and (4) allow an exclusion from gross income, up to $250 ($500 for joint returns), for dividends, interest, and capital gains. Appropriates additional amounts to the Hospital Insurance Trust Fund to compensate for losses in revenue resulting from the revision of the formula for including social security benefits in gross income.
Amends title II (Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require the Secretary of Health and Human Services (HHS) to establish a procedure for allowing Medicare beneficiaries to waive Medicare entitlements and be automatically enrolled in the Medicare Alternative Voucher Program established by this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Senior Citizens Income Security Act of 2010
Latest action (Jul 13, 2010): Referred to House Energy and Commerce
Policy area: Taxation · Origin: House · Introduced: Jul 13, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.