S. 4365 · 117th Congress
Social Security Expansion 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.
I
SandersSponsor7 cosponsors · 7 D
7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases benefits and certain taxes related to the Social Security program.
What it does: CRS summary · Introduced in Senate · Jun 9, 2022
Social Security Expansion 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 (1) increasing the net investment income tax and making active trade or business income subject to this tax; and (2) extending payroll taxes on wages, salaries, and self-employment earnings to income above $250,000 (the maximum amount subject to the Social Security payroll tax is currently $147,000 for 2022).
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 Expansion Act
Latest action (Jun 9, 2022): Read twice and referred to the Committee on Finance.
Policy area: Social Welfare · Origin: Senate · Introduced: Jun 9, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.