Lance Gooden (R-TX)

No Tax on Restored Benefits Act

H.R. 7361 · House bill Taxation

A Republican bill with 6 Democratic cosponsors · See all 7 cosponsors

Last activity — Referred to the House Committee on Ways and Means.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "No Tax on Restored Benefits Act," aims to amend the Internal Revenue Code of 1986. It specifically targets the exclusion of certain benefits from an individual's gross income. These benefits are related to the Social Security Fairness Act of 2023. The amendment applies to monthly insurance benefits under title II of the Social Security Act. The rule covers payments for months starting after December 31, 2024, and ending before January 1, 2026.

Yes· 3 of 7

  • Scored +6

    Would retired people be better off under this?

    Retirees will see an increase in net income due to the tax exclusion on specific benefits.

  • Scored +5

    Would people over 65 be better off under this?

    The bill provides direct financial benefits to retirees receiving Social Security.

  • Scored +5

    Does this strengthen Social Security?

    The bill increases the net value of Social Security benefits by making them tax-exempt for a specific period.

The opposite

  • Scored -1

    Does this reduce what the federal government owes?

    Excluding income from taxation may slightly decrease federal tax revenue.