A bill to amend the Internal Revenue Code of 1954 and title II of the Social Security Act to provide a full exemption (through credit or refund) from the employees' tax under the Federal Insurance Contributions Act, and an equivalent reduction in the self-employment tax, in the case of individuals who have attained age 65.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code and title II of the Social Security Act with respect to an individual who has attained age 65 to provide for: (1) a reduced OASDI tax rate and a zero hospital tax rate on self-employment income; and (2) a full credit or refund of any FICA taxes and certain other employment taxes paid on wages received in or after the month of such 65th birthday.…