To provide for an indefinite freeze on increases in the monthly premiums for Medicare, and for other purposes.

September 15, 2004

Mr. FRANK of Massachusetts introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

To provide for an indefinite freeze on increases in the monthly premiums for Medicare, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Medicare Equity Act of 2004'.

SEC. 2. FREEZE IN MONTHLY PREMIUMS FOR MEDICARE.

(a) In General- Paragraph (3) of section 1839(a) of the Social Security Act (42 U.S.C. 1395r(a)) is amended by adding at the end the following new sentence: `Notwithstanding the preceding provisions of this paragraph, the monthly premium rate for any period after December 31, 2004, shall be the monthly premium rate in effect for a month in 2004.'.

(b) Effective Date- The amendment made by subsection (a) shall apply to periods beginning after December 31, 2004.

SEC. 3. INCREASE IN TOP RATE OF INDIVIDUAL INCOME TAX.

(a) In General- The table contained in paragraph (2) of section 1(i) of the Internal Revenue Code of 1986 (relating to reductions in rates after June 30, 2001) is amended by striking the last row and inserting the following:

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`2003 and 2004       25.0% 28.0% 33.0%   35.0% 

 2005 and thereafter 25.0% 28.0% 33.0% 36.0%'. 

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(b) Effective Date- The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2004.

END