H.R. 4121 · 116th Congress
Social Security for Future Generations Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LawsonSponsor4 cosponsors · 4 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases specified benefits and taxes related to the Old-Age, Survivors, and Disability Insurance (OASDI) program and otherwise modifies the program. Changes to benefits include
What it does: CRS summary · Introduced in House · Jul 30, 2019
Social Security for Future Generations Act of 2019
This bill increases specified benefits and taxes related to the Old-Age, Survivors, and Disability Insurance (OASDI) program and otherwise modifies the program.
Changes to benefits include
- increasing the primary insurance amount for certain beneficiaries;
- revising the method for calculating cost-of-living adjustments by using a price index that tracks the spending patterns of older consumers;
- extending benefits through age 22 to full-time students who are eligible children of deceased, disabled, or retired workers;
- establishing a new minimum benefit for certain lifetime low-earners; and
- establishing an alternative benefit based on combined household benefits for widows or widowers in two-income households.
Changes to taxes include subjecting earnings in excess of $250,000 to Social Security taxes. No taxes shall be applied to earnings between the contribution base (the maximum amount subject to the Social Security payroll tax, set at $137,700 for 2020) and $250,000.
In addition, the bill preserves eligibility for Supplemental Security Income payments and other means-tested programs by limiting the amount of OASDI payments considered in eligibility determinations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Social Security for Future Generations Act of 2019
Latest action (Jul 31, 2019): Referred to the Subcommittee on Health.
Policy area: Social Welfare · Origin: House · Introduced: Jul 30, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.