Medicare and Social Security Fair Share Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3271 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3271 To amend the Internal Revenue Code of 1986 to increase funding for Social Security and Medicare. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 8, 2025 Mr. Boyle of Pennsylvania introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to increase funding for Social Security and Medicare. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Medicare and Social Security Fair Share Act''. SEC. 2. MODIFICATION OF PAYROLL TAXES. (a) Wage Base for Taxes Funding Social Security.-- (1) In general.--Paragraph (1) of section 3121(a) of the Internal Revenue Code of 1986 is amended to read as follows: ``(1) in the case of taxes imposed by sections 3101(a) and 3111(a), for any calendar year in which the contribution and benefit base (as determined under section 230 of the Social Security Act) is less than $400,000, so much of the remuneration (other than remuneration referred to in the succeeding paragraphs of this subsection) with respect to employment that has been paid to an individual by an employer during the calendar year as exceeds such contribution and benefit base but does not exceed $400,000;''. (2) Conforming amendments.-- (A) Successor employers.--Section 3121 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: ``(aa) Special Rules for Successor Employers.--For purposes of subsection (a)(1), if an employer (hereinafter referred to as successor employer) during any calendar year acquires substantially all the property used in a trade or busine