A bill to amend title II of the Social Security Act to make it clear that social security benefits are and will continue to be exempt from all taxation, and to provide that automatic cost-of-living increases in such benefits shall be made on a semiannual basis (rather than only on an annual basis as at present).

[AI summary unavailable — showing source text] Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) prohibit the taxation of any title II benefits; and (2) provide that the automatic cost-of-living increases in benefits be made on a semi-annual basis (rather than only on an annual basis as at present).…