year, and (II) in the case of any calendar year in which such contribution and benefit base equals or exceeds $400,000, clause (i) shall not apply. . (ii) Exclusion of remuneration which is not treated as compensation Section 3231(e)(2)(A)(ii) of the Internal Revenue Code of 1986 is amended by inserting or (iv) after under clause (i) . (D) Conforming amendment Section 3231(e)(2)(C) of the Internal Revenue Code of 1986 is amended by striking the second sentence of section 3121(a)(1) and inserting section 3121(aa)(2) . (2) Amendment to the Social Security Act Section 209(a)(1)(I) of the Social Security Act ( 42 U.S.C. 409(a)(1)(I) ) is amended by inserting before the semicolon at the end the following: except that this subparagraph shall apply only to calendar years for which the contribution and benefit base (as so determined) is less than $400,000, and, for such calendar years, only to the extent that remuneration with respect to employment paid to such employee does not exceed $400,000 . (b) Determination of self-Employment income above contribution and benefit base after 2024 (1) Amendments to Internal Revenue Code of 1986 (A) In general Section 1402(b) of the Internal Revenue Code of 1986 is amended to read as follows: (b) Self-Employment income (1) In general The term self-employment income means the net earnings from self-employment derived by an individual, except that such term shall not include net earnings from self-employment if such net earnings for the taxable year are less than $400. (2) Limitation on OASDI tax For purposes of section 1401(a), the term self-employment income shall not exceed the sum of— (A) the total compensation not in excess of the contribution and benefit base (as determined under section 230 of the Social Security Act) which is effective for the calendar year in which such taxable year begins, reduced by the amount of wages not in excess of such base paid to such individual during the taxable year, plus (B) the total compensation in excess of the greater of— (i) $400,000, or