To enhance Social Security benefits and ensure the long-term solvency of the Social Security program.
USA115th CongressHR-1114| House
| Updated: 3/1/2017
Peter A. DeFazio
Democratic Representative
Oregon
Cosponsors (39)
Tim Ryan (Democratic)Marcy Kaptur (Democratic)Robert C. "Bobby" Scott (Democratic)Barbara Lee (Democratic)Raúl M. Grijalva (Democratic)Mark Pocan (Democratic)Eliot L. Engel (Democratic)Bobby L. Rush (Democratic)Gregorio Kilili Camacho Sablan (Democratic)Carol Shea-Porter (Democratic)Steve Cohen (Democratic)Tony Cárdenas (Democratic)Paul Tonko (Democratic)Donald M. Payne (Democratic)Wm. Lacy Clay (Democratic)Michael E. Capuano (Democratic)Ro Khanna (Democratic)Henry C. "Hank" Johnson (Democratic)Al Green (Democratic)Brendan F. Boyle (Democratic)Stephen F. Lynch (Democratic)Keith Ellison (Democratic)John Conyers (Democratic)
Ways and Means Committee, Social Security Subcommittee, Education and Workforce Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Social Security Expansion Act This bill amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) increase the primary insurance amount for all eligible beneficiaries, beginning in 2023; (2) revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers; and (3) increase the special minimum primary insurance amount for lifetime low earners based on years in the workforce. This bill amends the Internal Revenue Code to: (1) apply employment and self-employment taxes to remuneration up to the contribution and benefit base and to remuneration in excess of $250,000, and (2) increase the tax rate on investment gain from 3.8% to 10% and allocate specifed amounts of such tax revenue to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.
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Timeline
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
Referred to the Subcommittee on Social Security.
Social Welfare
AgingEmployment taxesGovernment trust fundsInflation and pricesInterest, dividends, interest ratesSelf-employedSocial security and elderly assistanceWages and earnings
To enhance Social Security benefits and ensure the long-term solvency of the Social Security program.
USA115th CongressHR-1114| House
| Updated: 3/1/2017
Social Security Expansion Act This bill amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) increase the primary insurance amount for all eligible beneficiaries, beginning in 2023; (2) revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers; and (3) increase the special minimum primary insurance amount for lifetime low earners based on years in the workforce. This bill amends the Internal Revenue Code to: (1) apply employment and self-employment taxes to remuneration up to the contribution and benefit base and to remuneration in excess of $250,000, and (2) increase the tax rate on investment gain from 3.8% to 10% and allocate specifed amounts of such tax revenue to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.
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Timeline
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
Referred to the Subcommittee on Social Security.
Peter A. DeFazio
Democratic Representative
Oregon