Sec. 5. Internal Revenue Code provisions
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Section 3101 of the Internal Revenue Code of 1986 is amended— by redesignating subsection
(c)as subsection (d), and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed on the income of every individual a tax equal to the applicable percentage of the wages (as defined in section 3121(a)) received by the individual with respect to employment (as defined in section 3121(b)). For purposes of paragraph (1), the term applicable percentage means 0.3 percent in the case of wages received in any calendar year after 2021. . Section 3111 of such Code is amended— by redesignating subsection
(c)and
(d)as subsection
(d)and (e), respectively, and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed on every employer an excise tax, with respect to having individuals in his employ, equal to the applicable percentage of the wages (as defined in section 3121(a)) paid by the employer with respect to employment (as defined in section 3121(b)). For purposes of paragraph (1), the term applicable percentage means 0.3 percent in the case of wages paid in any calendar year after 2021. . Section 1401 of such Code is amended— by redesignating subsection
(c)as subsection (d), and by inserting after subsection
(b)the following: In addition to other taxes, there is hereby imposed for each taxable year, on the self-employment income of every individual, a tax equal to the applicable percentage of the amount of the self-employment income for such taxable year. For purposes of paragraph (1), the term applicable percentage means 0.6 percent in the case of self-employment income in any taxable year after 2021. . Section 3121(u) of such Code is amended— in the heading, by striking hospital insurance tax and inserting hospital insurance tax and long-term care insurance tax ; by striking sections 3101(b) and 3111(b) each place it appears and inserting subsections
(b)and
(c)of section 3101 and subsections
(b)and
(c)of section 3111 ; and in paragraph (2)(C), in the matter preceding clause (i), by inserting (except for purposes of the taxes imposed by sections 3101(c) and 3111(c)) after subparagraph
(A). Section 3201(a) of such Code is amended by striking subsections
(a)and
(b)and inserting subsections (a), (b), and
(c). Section 3211(a) of such Code is amended by striking subsections
(a)and
(b)each place it appears and inserting subsections (a), (b), and
(c). Section 3221(a) of such Code is amended by striking subsections
(a)and
(b)and inserting subsections (a), (b), and
(c). Section 3231(e)(2)(A)(iii) of such Code is amended— in the heading, by inserting and long-term care insurance taxes after Hospital insurance taxes , in subclause (I), by striking the rate of tax in effect under section 3101(b) and inserting the sum of the rates of tax in effect under subsections
(b)and
(c)of section 3101 , and in subclause (II), by striking the rate of tax in effect under section 1401(b) and inserting the sum of the rates of tax in effect under subsections
(b)and
(c)of section 1401 . Section 15(a) of the Railroad Retirement Act of 1974 ( 45 U.S.C. 231n(a) ) is amended by inserting (other than sections 3201(c), 3211(c), and 3221(c)) before the period at the end. The Internal Revenue Code of 1986 is amended by inserting after section 86 the following: Gross income shall not include any amount received by the taxpayer by reason of entitlement to a benefit under section 235 of the Social Security Act. . The following sections of the Internal Revenue Code of 1986 are amended as follows: Section 1402(a)(12)(B) is amended by striking subsections
(a)and
(b)and inserting subsections (a), (b), and
(c). Section 3121(z)(5) is amended by striking sections 3101(c) and 3111(c) and inserting sections 3101(d) and 3111(d) . The last sentence of section 6051(a) is amended by striking sections 3101(c) and 3111(c) and inserting sections 3101(d) and 3111(d) . Section 6413(c) is amended— in paragraph (1)— by inserting , section 3101(c), after by section 3101(a) ; and by striking both and inserting each ; and in paragraph (2), by inserting or 3101(c) after 3101(a) each place it appears. The amendments made by this section shall apply with respect to taxable years beginning after 2021.
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Sec. 5
Internal Revenue Code provisions
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