To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of social security benefits, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of social security benefits, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Labor, Healthcare.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H13E1A53028054139ACDA0B324469492C: 1. Short title This Act may be cited as the You Earned It, You Keep It Act.
- Section H030E6463F22E4351BAAF82333F4E2371: 2. Repeal of inclusion in gross income of Social Security benefits Section 86 of the Internal Revenue Code of 1986 (relating to social security benefits) is...
- Section H29FCE4D32A3445A79001A8912EA4935A: 3. Determining wages and self-employment income above contribution and benefit base after 2024 Section 3121(a) of the Internal Revenue Code of 1986 is amended...
- Section H653702B54DD144B6BBB91224A6771C42: 3103. Special rules for remuneration from multiple employers In the case of an employee receiving wages from more than one employer during a calendar year,...
- Section H7C83C4CF82424632BA81ED4B40CC61C0: 4. Including earnings over $250,000 in Social Security benefit formula Section 215(a)(1)(A) of the Social Security Act (42 U.S.C. 415(a)(1)(A)) is amended— in...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of social security benefits, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Labor, Healthcare
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of social security benefits, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Craig (for herself, Mr. Khanna, Ms. Caraveo, Mr. Davis …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → The Secretary identified in the operative section
Key Definitions
Terms defined in this bill
that portion of the wages of an individual paid in a year after 2024 in excess of the higher of $250,000 or the contribution and benefit base for the year
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology