H.R. 1129

Summary

H.R. 1129, the Tax Relief Unleashed for Seniors by Trump Act, was introduced in the House on Feb 7, 2025 by Rep. Nicole Malliotakis (R). It was referred to Ways And Means, and last saw action on Feb 7, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 1129 has no co-sponsors and has not gone to a roll call.

119 HR 1129 IH: Tax Relief Unleashed for Seniors by Trump Act
 U.S. House of Representatives
 2025-02-07
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 1129  IN THE HOUSE OF REPRESENTATIVES   February 7, 2025   Ms. Malliotakis  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 the exclusion from gross income of social security benefits.
1.
Short title
This Act may be cited as the   Tax Relief Unleashed for Seniors by Trump Act  .
2.
Increase in exclusion from gross income of social security benefits
(a)
In general
 Section 86(c)  of the Internal Revenue Code of 1986 is amended—
(1)
by striking  $25,000  in paragraph (1)(A) and inserting  $50,000 ,
(2)
by striking  $32,000  in paragraph (1)(B) and inserting  $64,000 ,
(3)
by striking  $34,000  in paragraph (2)(A) and inserting  $59,000 , and
(4)
by striking  $44,000  in paragraph (2)(B) and inserting  $76,000 .
(b)
Inflation adjustment
Section 86(c) of such Code is amended by adding at the end the following new paragraph:
(3)
Inflation adjustment
(A)
In general
In the case of any taxable year beginning after December 31, 2026, the dollar amounts in paragraphs (1)(A), (1)(B), (2)(A), and (2)(B) shall each be increased by an amount equal to—
(i)
such dollar amount, multiplied by
(ii)
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins by substituting  calendar year 2025  for  calendar year 2016  in subparagraph (A)(ii) thereof.
(B)
Rounding
If any increase determined under subparagraph (A) is not a multiple of $100, such increase shall be rounded to nearest multiple of $100.
 .
(c)
Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2025.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

To amend the Internal Revenue Code of 1986 to increase the exclusion from gross income of social security benefits.

Sponsors

Rep. Nicole Malliotakis (R) sponsors H.R. 1129 alone.

Nicole Malliotakis

Rep. · R–NY-11 · Sponsor

Show 1 of 1 row

PreviousNext

Committees

H.R. 1129 went before 1 committee: Ways and Means.

Ways and Means

Ways and Means

Referred To · Feb 7, 2025 · 1,160 Bills

Actions

H.R. 1129 has taken 2 actions since Feb 7, 2025.

Votes

H.R. 1129 has not gone to a roll call.

Titles

H.R. 1129 goes by 3 titles, 1 of them short titles.

• Tax Relief Unleashed for Seniors by Trump Act — Display Title
• Tax Relief Unleashed for Seniors by Trump Act — Short Title(s) as Introduced
• To amend the Internal Revenue Code of 1986 to increase the exclusion from gross income of social security benefits. — Official Title as Introduced

Lobbying

1 client hired 1 firm and 28 registered lobbyists who named H.R. 1129 in 1 quarterly filing, 2025. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Agriculture, Budget/Appropriations, Civil Rights/Civil Liberties, Consumer Issues/Safety/Products, Disaster Planning/Emergencies, Family issues/Abortion/Adoption, Financial Institutions/Investments/Securities, Health Issues.

Clients

Who paid to be heard, by how many filings named the bill.

Firms

Registrants who filed on the bill, by filings.

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 28.

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

Classification

The Congressional Research Service files H.R. 1129 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 1129’s is Taxation.

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 1129, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 26 (Friday, February 7, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. MALLIOTAKIS:H.R. 1129.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, clause 1[Page H585]

Source: congress.gov · legiscan.com