A bill to establish for the year 1974, under chapters 2 and 21 of the Internal Revenue Code of 1954, more equitable rates and schedules of social security taxes on employees and self-employed individuals (with partial income tax deductibility therefor), and to provide for a method for the development of similar rates and schedules for years after 1974.

[AI summary unavailable — showing source text] Establishes for the year 1974, under the Internal Revenue Code, more equitable rates and schedules of social security taxes on employees and self-employed individuals with partial income tax deductibility therefor. Directs the Secretary of Health, Education, and Welfare to undertake the development of revised rates and schedules for years after 1974.…