H.R. 671 · 118th Congress
Social Security Enhancement and Protection Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MooreSponsor2 cosponsors · 2 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases certain Social Security taxes and benefits.
What it does: CRS summary · Introduced in House · Jan 31, 2023
Social Security Enhancement and Protection Act of 2023
This bill increases certain Social Security taxes and benefits.
Under current law, Social Security has a taxable earnings base, which refers to the maximum amount of a worker's earnings that are subject to Social Security payroll taxes (set at $160,200 in 2023). Additionally, the taxable earnings base serves as the maximum amount of earnings used to calculate a worker's Social Security benefits.
This bill gradually increases the Social Security payroll tax rate from 6.2% to 6.5% over six years. It also phases out the taxable earnings base, thereby applying the payroll taxes to a greater amount of a worker's earnings, and revises the method to calculate a worker's Social Security benefits to account for earnings in excess of the taxable earnings base.
Other changes to benefits include establishing a new method to calculate benefits for lifetime low earners and increasing benefits for certain beneficiaries on account of long-term eligibility. In addition, an eligible child of a retired, disabled, or deceased worker may continue to receive benefits through age 26, provided the child is a full-time student.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Social Security Enhancement and Protection Act of 2023
Latest action (Dec 17, 2024): Referred to the Subcommittee on Social Security.
Policy area: Social Welfare · Origin: House · Introduced: Jan 31, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.