S.Amdt. 123

SA 123. Mr. BUNNING submitted an amendment intended to be proposed to
amendment SA 98 proposed by Mr. Inouye (for himself and Mr. Baucus) to
the bill H.R. 1, making supplemental appropriations for job
preservation and creation, infrastructure investment, energy efficiency
and science, assistance to the unemployed, and State and local fiscal
stabilization, for fiscal year ending September 30, 2009, and for other
purposes; which was ordered to lie on the table; as follows:

On page 570, between lines 8 and 9, insert the following:

SEC. __. TEMPORARY REPEAL OF 1993 INCOME TAX INCREASE ON
SOCIAL SECURITY BENEFITS.

(a) In General.--Paragraph (2) of section 86(a) (relating
to social security and tier 1 railroad retirement benefits)
is amended by adding at the end the following new flush
sentence:
``This paragraph shall not apply to any taxable year
beginning in 2009.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2008.
(c) Maintenance of Transfers to Hospital Insurance Trust
Fund.--There are hereby appropriated to the Federal Hospital
Insurance Trust Fund established under section 1817 of the
Social Security Act (42 U.S.C. 1395i) amounts equal to the
reduction in revenues to the Treasury by reason of the
amendment made by subsection (a). Amounts appropriated by the
preceding sentence shall be transferred from the general fund
at such times and in such manner as to replicate to the
extent possible the transfers which would have occurred to
such Trust Fund had such amendment not been enacted.
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