H.R. 5215 · 117th Congress
Social Security Stabilization and Enhancement Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DeFazioSponsorNo cosponsors.
This bill increases benefits and certain taxes related to the Social Security program.
What it does: CRS summary · Introduced in House · Sep 10, 2021
Social Security Stabilization and Enhancement Act
This bill increases benefits and certain taxes related to the Social Security program.
Changes to benefits include (1) increasing the primary insurance amount for certain beneficiaries; (2) revising the method of calculating cost-of-living adjustments; (3) establishing a new minimum benefit for certain low earners; and (4) allowing certain children of retired, deceased, or disabled workers to receive benefits until age 22 if they are a full-time student.
Changes to taxes include increasing the net investment income tax for certain taxpayers and extending payroll taxes on wages, salaries, and self-employment earnings to income above $250,000. Under current law, the maximum amount subject to the Social Security payroll tax is $142,800 for 2021.
The bill also combines the existing Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a single Social Security Trust Fund.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Social Security Stabilization and Enhancement Act
Latest action (Sep 13, 2021): Referred to the Subcommittee on Social Security.
Policy area: Social Welfare · Origin: House · Introduced: Sep 10, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.