PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Committee on Ways and Means, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Congressional Research Service
No official summary is available in the imported record yet.
People & committees
Rep. Malliotakis, Nicole [R-NY-11] · R–NY
Legislative record
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Referred to the Committee on Ways and Means, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
Source last updated: Aug 27, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-03-21 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
For tax years beginning after December 31, 2025, this proposal would change how much Social Security income is taxable. It would set base amounts of $34,000 generally and $68,000 for joint returns, with inflation adjustments for tax years beginning after 2025 and a separate zero-base rule for certain married taxpayers filing separately. The amount included in income would be the smaller of 85% of benefits received or 85% of an excess calculated under a referenced provision. The bill would replace resulting lost transfers to Social Security and railroad retirement funds with Treasury money. Starting in fiscal year 2027, it would cancel appropriated funding proportionally to cover a cost calculated under the bill, while exempting discretionary appropriations in the statutory security category.
Gross income for the taxable year of any taxpayer described in subsection (b) (notwithstanding section 207 of the Social Security Act) includes Social Security benefits in an amount equal to the lesser of— (1) 85 percent of the Social Security benefits received during the taxable year, or (2) 85 percent of the excess described in subsection (b)(1).
For purposes of this section, the term base amount means— (A) except as otherwise provided in this subsection, $34,000, (B) $68,000 in the case of a joint return, and (C) zero in the case of a taxpayer who— (i) is married as of the close of the taxable year (within the meaning of section 7703) but does not file a joint return for such year, and (ii) does not live apart from his spouse at all times during the taxable year.
In the case of any taxable year beginning after 2025, each of the dollar amounts in paragraph (1) shall 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, determined by substituting calendar year 2024 for calendar year 2016 in subparagraph (A)(ii) thereof.
The amendments made by this section shall apply to taxable years beginning after December 31, 2025.
There are hereby appropriated (out of any money in the Treasury not otherwise appropriated) for each fiscal year to each fund under the Social Security Act or the Railroad Retirement Act of 1974 an amount equal to the reduction in the transfers to such fund for such fiscal year by reason of the amendments made by this section.
Subject to subsection (c), for fiscal year 2027, and each fiscal year thereafter, effective on the day after the date on which appropriations are made available through September 30 of the applicable fiscal year for the entire Federal Government, there is rescinded an amount equal to the total cost for such fiscal year, on a pro rata basis, from amounts made available through regular appropriation Acts.
Subsection (a) shall not apply with respect to any discretionary appropriations included in the security category (as defined in Section 250(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900(c))).
Section 1 would give the bill the short title “RETIREES FIRST Act.”
This Act may be cited as the Reducing Excessive Taxation and Inefficiencies by Reforming Elder Exemptions to Support Fairness, Inflation Relief, and Simpler Taxes Act or the RETIREES FIRST Act.
For taxpayers covered by the referenced subsection (b), the proposal would include in gross income the smaller of 85% of Social Security benefits received or 85% of the excess calculated under subsection (b)(1). This determines the amount of benefits included in income; it does not impose an 85% tax rate. The referenced calculation is not reproduced in the bundle.
Gross income for the taxable year of any taxpayer described in subsection (b) (notwithstanding section 207 of the Social Security Act) includes Social Security benefits in an amount equal to the lesser of— (1) 85 percent of the Social Security benefits received during the taxable year, or (2) 85 percent of the excess described in subsection (b)(1).
The proposal would set the base amount used in the benefit-tax calculation at $34,000 generally and $68,000 for a joint tax return, subject to the separate rule for certain married taxpayers and the inflation adjustment described below.
For purposes of this section, the term base amount means— (A) except as otherwise provided in this subsection, $34,000, (B) $68,000 in the case of a joint return
In the case of any taxable year beginning after 2025, each of the dollar amounts in paragraph (1) shall 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, determined by substituting calendar year 2024 for calendar year 2016 in subparagraph (A)(ii) thereof.
The base amount would be zero for a taxpayer who is married at the end of the tax year, does not file jointly, and has not lived apart from their spouse throughout the entire year.
(C) zero in the case of a taxpayer who— (i) is married as of the close of the taxable year (within the meaning of section 7703) but does not file a joint return for such year, and (ii) does not live apart from his spouse at all times during the taxable year.
For tax years beginning after 2025, the dollar thresholds would be adjusted for inflation using the referenced tax-code formula with 2024 substituted for its 2016 reference year. The calculated adjustment would be rounded to the nearest $1,000.
In the case of any taxable year beginning after 2025, each of the dollar amounts in paragraph (1) shall 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, determined by substituting calendar year 2024 for calendar year 2016 in subparagraph (A)(ii) thereof.
If any amount determined under subparagraph (A) is not a multiple of $1,000, such amount shall be rounded to the nearest multiple of $1,000.
The bill would directly appropriate Treasury money each fiscal year to replace reductions in transfers to funds under the Social Security Act or Railroad Retirement Act of 1974 caused by section 2's amendments. The amount would equal the reduction for each fund, rather than a fixed dollar allocation.
There are hereby appropriated (out of any money in the Treasury not otherwise appropriated) for each fiscal year to each fund under the Social Security Act or the Railroad Retirement Act of 1974 an amount equal to the reduction in the transfers to such fund for such fiscal year by reason of the amendments made by this section.
The tax amendments would apply to tax years beginning after December 31, 2025.
The amendments made by this section shall apply to taxable years beginning after December 31, 2025.
Starting in fiscal year 2027 and continuing each fiscal year thereafter, section 3 would cancel funding proportionally from covered appropriations in an amount equal to its defined annual cost. This cancellation would take effect the day after appropriations covering the entire federal government through September 30 become available. The provision specifies no final fiscal year.
Subject to subsection (c), for fiscal year 2027, and each fiscal year thereafter, effective on the day after the date on which appropriations are made available through September 30 of the applicable fiscal year for the entire Federal Government, there is rescinded an amount equal to the total cost for such fiscal year, on a pro rata basis, from amounts made available through regular appropriation Acts.
The funding subject to cancellation would include qualifying annual appropriations, qualifying portions of larger laws or resolutions, and continuing appropriations that fund all or part of a fiscal year. Annual appropriations are covered when they provide new spending authority for programs, projects, and activities under a Senate Appropriations subcommittee's jurisdiction.
means an annual appropriation Act (as described in section 105 of title 1, United States Code) providing new budget authority (as defined in section 3 of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 622)) for the programs, projects, and activities under the jurisdiction of a subcommittee of the Committee on Appropriations of the Senate
includes— (A) a title, division, or other subdivision of an Act or resolution that, if it were a separate Act, would be an Act described in paragraph (1); and (B) a resolution or Act, or a title, division, or other subdivision of a resolution or Act, making continuing appropriations for all, or a portion of, a fiscal year.
Discretionary appropriations in the legally defined “security category” would be exempt from the funding cancellations. The bill refers to an existing statutory definition without reproducing which programs it covers.
Subsection (a) shall not apply with respect to any discretionary appropriations included in the security category (as defined in Section 250(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900(c))).
The Treasury Secretary would determine the annual amount to cancel using lost transfers caused specifically by section 2(b), which changes the base amounts and adds inflation adjustments. The calculation would disregard the replacement appropriations under section 2(c). This cost definition is narrower than the replacement-funding provision, which refers to amendments throughout section 2.
the term total cost means, with respect to a fiscal year, an amount (as determined by the Secretary of the Treasury) equal to the total reduction in the transfers to each fund under the Social Security Act or the Railroad Retirement Act of 1974 for such fiscal year by reason of the amendments made by section 2(b) (as determined without respect to any appropriation made pursuant to section 2(c)).
(b) Base amount Subsection (c) of section 86 of such Code is amended to read as follows:
For purposes of this section, the term base amount means— (A) except as otherwise provided in this subsection, $34,000, (B) $68,000 in the case of a joint return
In the case of any taxable year beginning after 2025, each of the dollar amounts in paragraph (1) shall 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, determined by substituting calendar year 2024 for calendar year 2016 in subparagraph (A)(ii) thereof.
an amount equal to the reduction in the transfers to such fund for such fiscal year by reason of the amendments made by this section.
The Office of Management and Budget Director would have to publish a report by January 1, 2028, and annually afterward, detailing funding cancellations for the most recently completed fiscal year.
Not later than January 1, 2028, and annually thereafter, the Director of the Office of Management and Budget shall publish a report detailing any rescissions made under this section with respect to the most recently completed fiscal year.
The supplied official-actions snapshot, updated August 27, 2026, records introduction in the House and referral to the Ways and Means and Appropriations committees on March 21, 2025. These entries establish those actions, not the bill's eventual outcome.
Source snapshot updated 2026-08-27T16:28:34Z.
2025-03-21: Introduced in House
2025-03-21: Referred to the Committee on Ways and Means, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
A closer look
Reviewed version: Introduced in House · 2025-03-21. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or policy rider was identified after reviewing the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials, or establish an amendment's attachment history.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places qualifying as an earmark was identified after reviewing the complete supplied introduced text. Formula allocations do not automatically constitute earmarks. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials; formal earmark status cannot be established from this source set.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow carve-out, special exemption, or preferential benefit warranting a finding was identified after reviewing the complete supplied introduced text. Broad coverage or a broad spending-category exemption does not alone warrant such a finding. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Full text preserved for this analysis. Legislative record snapshot: Aug 27, 2026. How PlainBill uses AI