S. 1422 - Strengthening the Medicare Trust Fund Act

116TH CONGRESS
1ST SESSION

S. 1422

To transfer revenues from the net investment income tax
to the Federal Hospital Insurance Trust Fund.

IN THE SENATE OF THE UNITED STATES

MAY 13, 2019

Mr. CASEY introduced the following bill; which was read twice
and referred to the Committee on Finance

A BILL

To transfer revenues from the net investment income tax to the Federal Hospital Insurance Trust Fund.

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 " Strengthening the Medicare Trust Fund Act".

SEC. 2. TRANSFER OF NET INVESTMENT INCOME TAX REVENUES TO THE FEDERAL HOSPITAL INSURANCE TRUST FUND.

Section 1817(a) of the Social Security Act (42 U.S.C. 1395i(a)) is amended by striking "and" at the end of paragraph (1), by striking the period at the end of paragraph (2) and inserting "; and", and by inserting after paragraph (2) the following new paragraph:

"(3) the taxes imposed by section 1411 of the Internal Revenue Code of 1986 for any taxable year beginning after December 31, 2018, as determined by the Secretary of the Treasury or the Secretary's  delegate based on tax returns under subtitle F of such Code.".